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RiT Technologies Ltd.

Case Summary

RiT Technologies Ltd. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 02/22/2019 (Court's order of dismissal)

Filing Date: July 28, 2016

According to the law firm press release, the lawsuit alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) RiT CIS Ltd. was RiT Technologies’ major distributor in Russia and the Commonwealth of Independent States region; (2) RiT CIS was vital to the viability of RiT Technologies; and (3) as a result, RiT Technologies’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On February 14, 2017, Lead Plaintiffs and Counsel were appointed. Lead Plaintiffs filed an amended Complaint on April 16, 2018. Defendants filed a Motion to Dismiss the amended Complaint on June 15. On February 22, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiffs were given leave to amend the Complaint.

Company & Securities Information

Defendant: RiT Technologies Ltd.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: Israel

SECURITIES INFORMATION:

Ticker Symbol: RITT
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

Stephen Padgett, et al. v. RiT Technologies Ltd., et al.

COURT: D. New Jersey
DOCKET #: 16-CV-04579
JUDGE: Hon. Kevin McNulty
DATE FILED: 07/28/2016
CLASS PERIOD START: 03/03/2015
CLASS PERIOD END: 07/01/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm (New Jersey)
    236 Tillou Road, The Rosen Law Firm (New Jersey), NJ 07079
    (973) 313-1887 (973) 833-0399 · lrosen@rosenlegal.com
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violations of Federal Securities Laws 07/28/2016
2 U.S. District Court Civil Docket 07/29/2016
3 Order Appointing Lead Plaintiff and Lead Counsel 02/14/2017

Reference Complaint

Martin Smilovich, et al. v. RiT Technologies Ltd., et al.

COURT: D. New Jersey
DOCKET #: 16-CV-04579
JUDGE: Hon. Kevin McNulty
DATE FILED: 04/16/2018
CLASS PERIOD START: 03/03/2015
CLASS PERIOD END: 07/01/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (Lake Hiawatha)
    144 North Beverwyck Road Suite 187, Bronstein, Gewirtz & Grossman, LLC (Lake Hiawatha), NJ 07034
    973.335.6409 973.335.3717 · info@bgandg.com
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Class Action Complaint for Violations of Federal Securities Laws 04/16/2018
2 U.S. District Court Civil Docket 02/22/2019
3 Memorandum Opinion 02/22/2019
4 Order 02/22/2019

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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