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Case Status:    DISMISSED    
On or around 11/25/2019 (Court's order of dismissal)

Filing Date: July 28, 2016

RiT Technologies Ltd. is headquartered in Israel and provides clients with advanced network management systems.

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, dismissing the case without prejudice. The Court denied Plaintiffs' Motion to Amend the Complaint on November 25 and dismissed the case with prejudice. Plaintiffs appealed the Magistrate Judge's decision on December 9. On September 1, 2020, the Court affirmed the Magistrate Judge's Order.

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