Case Page

 

Case Status:    SETTLED
On or around 10/11/2017 (Settlement preliminarily approval)

Filing Date: January 20, 2016

According to the law firm press release, the complaint charges Cnova and certain of its officers, directors, and underwriters of the Company’s IPO with violations of the federal securities laws. Specifically, the complaint alleges that, within the Company’s IPO registration statement, and/or throughout the Class Period, defendants failed to disclose: (1) that the Company overstated net sales; (2) that the Company failed to properly write-off the value of certain returned items; (3) that there was a material discrepancy in accounts receivable related to the damaged/returned items; (4) that, as such, the Company’s EBIT was overstated; (5) that the company lacked adequate internal controls; and (6) that, as a result of the foregoing, the Company’s financial statements and Defendants’ statements about Cnova’s business, operations, and prospects, were materially false and misleading at all relevant times.

On April 15, 2016, the Court issued an Order appointing Lead Plaintiff and Lead Counsel. Lead Plaintiffs filed an amended complaint on June 13.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Specialty)
Headquarters: Netherlands

SECURITIES INFORMATION:

Ticker Symbol: CNV
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 #: 16-CV-00444
JUDGE:
DATE FILED: 01/20/2016
CLASS PERIOD START: 11/19/2014
CLASS PERIOD END: 12/18/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  2. Law Offices of Howard G. Smith
    3070 Bristol Pike, Suite 112, Law Offices of Howard G. Smith, PA 19020
    215.638.4847 215.638.4867 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 16-CV-00444
JUDGE:
DATE FILED: 06/13/2016
CLASS PERIOD START: 11/19/2014
CLASS PERIOD END: 12/18/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brower Piven (Stevenson)
    1925 Old Valley Road, Brower Piven (Stevenson), MD 21153
    (410) 332-0030 (410) 685-1300 · piven@abrowerpiven.com
No Document Title Filing Date