On or around 08/21/2018 (Other)
Filing Date: June 23, 2015
According to the law firm press release, the lawsuit alleges Defendants during the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company does not have an advanced cyber security product offering, and (2) a substantial portion of the Company’s Cyber Solutions business consists of a one-time low margin hardware installation. When the true details entered the market, the lawsuit claims that investors suffered damages.
On September 29, 2015, this case was transferred to the District of Colorado.
Plaintiffs filed an amended complaint on January 4, 2016.
On September 21, 2016, the Court issued an Order granting Defendants' Motion to Dismiss. This case was closed. On October 20, Plaintiffs filed a Notice appealing the decision of the District Court to Dismiss the case. On July 30, 2018, the Court of Appeals affirmed the decision of the District Court.
Company & Securities Information
Defendant: Root9b Technologies, Inc.
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: RTNB
Company Market: OTC-BB
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.
First Identified Complaint
Ty Messerli, et al. v. Root9b Technologies, Inc., et al.