On or around 06/13/2018 (Other)
Filing Date: November 08, 2016
According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) InfuSystem lacked effective internal control over financial reporting; (2) InfuSystem’s financial statements dating back to the beginning of 2015 overstated the estimated accounts receivable collections which in turn overstated revenues and pre-tax income by a corresponding amount; (3) InfuSystem’s financial statements dating back to the beginning of 2015 could no longer be relied upon; and (4) as a result of the foregoing, the InfuSystem’s financial 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 17, 2017, the Court appointed Lead Plaintiffs and Counsel. Lead Plaintiff filed an amended Complaint on April 18, 2017. Defendants filed a Motion to Dismiss the amended Complaint on June 19. On December 15, the Court issued an Order granting Defendants' Motions to Dismiss. Plaintiffs were given leave to file an amended Complaint. Plaintiffs did not file an amended Complaint, and the Court dismissed the case on January 29, 2018. Lead Plaintiff filed a Notice appealing this decision on February 28, 2018. On June 13, Lead Plaintiff dismissed the appeal.
Company & Securities Information
Defendant: InfuSystem Holdings, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: INFU
Company Market: New York SE
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
John Lechner, et al. v. InfuSystem Holdings, Inc., et al.