Code Rebel Corporation is a software and information technology services company headquartered in Hawaii.

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.