Case Page

 

Case Status:    ONGOING    
On or around 08/21/2018 (Ongoing date of last review)

Filing Date: January 27, 2018

According to the Complaint, Ballard engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cells worldwide.

The Complaint alleges that throughout the Class Period, Defendants made statements that were materially false and/or misleading because they misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operational and financial results, which were known to Defendants or recklessly disregarded by them. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Ballard overstated the operations of its China-based partners Broad Ocean and Synergy; (2) there are no demonstration lines operating in Guangdong and no bus lines are in service in Sanshui or Yunfu; (3) Foshan has produced far fewer buses than Ballard has indicated, and only 11 are licensed; and (4) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

This case was voluntarily dismissed on April 12, 2018. A related case continues under Docket 18-CV-01137 in the Southern District of New York.

On April 3, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 22.

COMPANY INFORMATION:

Sector: Energy
Industry: Alternative Energy
Headquarters: Canada

SECURITIES INFORMATION:

Ticker Symbol: BLDP
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.
COURT: S.D. New York
DOCKET #: 18-CV-00719
JUDGE: Hon. Percy Anderson
DATE FILED: 01/27/2018
CLASS PERIOD START: 09/30/2016
CLASS PERIOD END: 01/25/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New Los Angeles)
    355 South Grand Ave, Suite 2450, The Rosen Law Firm, P.A. (New Los Angeles), CA 90071
    (213) 785-2610 (213) 226-4684 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 18-CV-01137
JUDGE: Hon. Percy Anderson
DATE FILED: 06/22/2018
CLASS PERIOD START: 07/18/2016
CLASS PERIOD END: 05/01/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date