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Case Status:    SETTLED
On or around 09/22/2016 (Ongoing date of last review)

Filing Date: June 05, 2015

According to the law firm press release, the lawsuit alleges defendants made false and/or misleading statements and/or failed to disclose that: (1) China Finance Online’s Chairman of the Board of Directors and Chief Executive Officer Zhiwei Zhao had an indirect equity interest in Langfang Developer at the time of the Company’s investment; (2) Zhiwei Zhao suddenly resigned from his positions at three key Chinese Variable Interest Entities of China Finance Online; and (3) as a result of the foregoing, China Finance Online’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On October 6, 2015, this case was transferred to the Southern District of New York.

Plaintiffs filed a consolidated complaint on November 13. This was followed by an amended complaint on December 28.

The parties entered into a Stipulation of Settlement on August 15, 2016.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: JRJC
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 15-CV-04256
JUDGE: Hon. Percy Anderson
DATE FILED: 06/05/2015
CLASS PERIOD START: 05/06/2014
CLASS PERIOD END: 06/03/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New Los Angeles)
    355 South Grand Ave, Suite 2450, The Rosen Law Firm, P.A. (New Los Angeles), CA 90071
    (213) 785-2610 (213) 226-4684 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 15-CV-07894
JUDGE: Hon. Percy Anderson
DATE FILED: 12/28/2015
CLASS PERIOD START: 04/29/2013
CLASS PERIOD END: 06/03/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date