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Case Status:    ONGOING    
On or around 03/03/2016 (Ongoing date of last review)

Filing Date: September 11, 2015

According to a law firm press release, SFX is engaged in the production and promotion of live music festivals and events, production of music tours, selling event tickets through a ticketing platform, merchandising and related services.

The complaint alleges that, throughout the Class Period, SFX and certain of its executive officers made a series of materially false and misleading statements in connection with a proposed acquisition of SFX by Defendant. For example, the complaint alleges that although Defendant repeatedly affirmed his commitment to acquire SFX, he and other SFX executive officers knew or recklessly disregarded, and failed to disclose to shareholders, that Defendant did not have the requisite financing in place at the time he made his proposal to acquire SFX, and knew or recklessly disregarded that Defendant would not be able to obtain the required financing to consummate the transaction.

The Complaint further alleges that, given the Company's growing debt and decreasing margins, it was not feasible that Defendant was ever going to buy the Company. Rather, Defendant initiated and maintained a sham process designed to lure third party buyout offers for SFX, all in an attempt to shed his personal SFX investment before the truth about the deterioration of the Company's finances could no longer be concealed.

COMPANY INFORMATION:

Sector: Services
Industry: Recreational Activities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SFXE
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-07192
JUDGE: Hon. Colleen McMahon
DATE FILED: 09/11/2015
CLASS PERIOD START: 02/25/2015
CLASS PERIOD END: 08/17/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Spanier Rodd & Abrams, LLP (New York)
    212 East 39th Street, Abbey Spanier Rodd & Abrams, LLP (New York), NY 10016
    212-889-3700 212-684-519 · info@abbeyspanier.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 15-CV-07192
JUDGE: Hon. Colleen McMahon
DATE FILED: 12/23/2015
CLASS PERIOD START: 02/25/2015
CLASS PERIOD END: 11/17/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brower Piven (New York)
    488 Madison Avenue. Eighth Floor, Brower Piven (New York), NY 10022
    212.501.9000 212.501.0300 · info@browerpiven.com
No Document Title Filing Date