On or around 06/04/2018 (Date of order of distribution of settlement)
Filing Date: November 09, 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) Defendants engaged in trading to artificially inflate Agria’s stock price in order to meet NYSE’s continuing listing standards and avoid delisting from the NYSE; (2) Agria lacked effective internal controls over financial reporting; and (3) as a result of the foregoing, Defendants’ public statements about Agira’s business, operations, and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On March 6, 2017, the Court appointed Lead Plaintiffs and Counsel. Lead Plaintiff filed an amended complaint on March 8.
On June 30, 2017, the parties entered into a Stipulation of Settlement. The Settlement was preliminarily approved on August 8. On December 12, the Court granted final approval of the settlement and entered Final Judgment. On June 4, 2018, the Court issued an Order granting distribution of Class Settlement funds.
Company & Securities Information
Defendant: Agria Corporation
Sector: Consumer Non-Cyclical
Headquarters: Hong Kong
Ticker Symbol: GRO
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
Etienne Balon, et al. v. Agria Corporation, et al.