Soufun Holdings Limited : American Depositary Shares Securities Litigation
On or around 11/04/2016 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: October 30, 2015
According to the law firm press release, the lawsuit alleges throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) SouFun employees routinely created “fake contracts”; (2) Defendants were aware that SouFun employees routinely created “fake contracts”; and (3) as a result, the Company’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Plaintiffs filed an amended complaint on March 25, 2016.
On October 18, 2016, the Court issued an Order granting Defendants' motion to dismiss. Plaintiffs were given 14 days to amend their complaint.
This case was voluntarily dismissed with prejudice on October 27, 2016.
Company & Securities Information
Defendant: Soufun Holdings Limited
Industry: Software & Programming
Ticker Symbol: SFUN
Company Market: New York SE
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
L and G Rubin Family Trust, et al. v. Soufun Holdings Limited, et al.