On or around 07/11/2018 (Date of order of distribution of settlement)
Filing Date: May 10, 2016
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period issued false and misleading statements to investors and/or failed to disclose that: (1) Code Rebel’s financial statements contained errors concerning its assets and financial condition; and (2) as a result of the foregoing, Code Rebel’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.
On March 2, 2017, the Court appointed Lead Plaintiffs and Counsel. Also on that date, the Court granted a temporary stay of this action pending bankruptcy litigation. On June 26, Lead Plaintiffs filed an Amended Complaint; on June 27, Lead Plaintiffs filed a Corrected Amended Complaint.
On May 12, 2017, the parties entered into a Settlement Agreement. This Settlement was preliminarily approved on June 28. On April 10, 2018, the Court granted final approval of the Settlement and entered Final Judgment. On July 11, the Court issued an Order granting the Motion for Final Distribution of net Settlement Fund.
Company & Securities Information
Defendant: Code Rebel Corporation
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: CDRB
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.
First Identified Complaint
Robert Springer, et al. v. Code Rebel Corporation, et al.