Daimler AG : American Depositary Receipts Securities Litigation
On or around 09/22/2020 (Settlement preliminarily approval)
Filing Date: April 29, 2016
According to the law firm press release, the lawsuit alleges throughout the Class Period defendants issued false and misleading statements about Daimler’s compliance with emissions standards and Daimler’s purported eco-friendly BlueTEC diesel engines. The lawsuit claims that when the true fact entered the market, the value of Daimler shares fell, damaging investors.
Plaintiffs filed a consolidated Complaint on October 11, 2016. Defendants filed a Motion to Dismiss the consolidated Complaint on January 20, 2017. On May 31, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.
On April 29, 2020, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on September 22.
Company & Securities Information
Defendant: Daimler AG
Sector: Consumer Cyclical
Industry: Auto & Truck Manufacturers
Ticker Symbol: DDAIF
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
Vancouver Alumni Asset Holdings, Inc., et al. v. Daimler AG, et al.