Case Page

 

Case Status:    ONGOING    
On or around 10/30/2018 (Ongoing date of last review)

Filing Date: July 23, 2018

According to the Complaint, Diamond Resorts International, Inc. ("Diamond" or the "Company") is a global leader in the hospitality and vacation ownership industry, with a worldwide resort network of 420 vacation destinations located in 35 countries throughout the world. The Company owns a network of international vacation destinations and sells vacation ownership "points," which entitle the owner to reserve rooms in one of Diamond's resort or hotel properties.

This is a securities class action on behalf of shareholders who held, sold or tendered Diamond common stock, or derivative securities convertible into, exercisable for, or exchangeable against Diamond common stock, from the period beginning on July 14, 2016, through September 1, 2016, against Diamond and certain officers and directors of Diamond (the "Individual Defendants" or "Board" and collectively with Diamond, the "Defendants"), for their violations of Sections 14(e) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act"), 78n(e), 78t(a).

The Complaint alleges that on July 14, 2016, Defendants caused the materially incomplete and misleading Recommendation Statement to be filed with the SEC. While the Recommendation Statement provided a detailed recitation of the process the Board undertook prior to voting to enter into the Merger Agreement with Apollo Global Management LLC ("Apollo"), it omitted certain pieces of critical and material information which render portions of the Recommendation Statement materially incomplete and misleading.

On September 26, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel.

COMPANY INFORMATION:

Sector: Services
Industry: Hotels & Motels
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DRII
Company Market: New York SE
Market Status:

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: D. Nevada
DOCKET #: 18-CV-01355
JUDGE: Hon. Andrew P. Gordon
DATE FILED: 07/23/2018
CLASS PERIOD START: 07/14/2016
CLASS PERIOD END: 09/01/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Albright, Stoddard, Warnick & Albright
    801 South Rancho Drive, Quail Park Suite D-4, Albright, Stoddard, Warnick & Albright, NV 89106
    702.384.7111 ·
  2. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available