Securities
Violations of Exchange Act
Securities Fraud
James Rose v. Deer Consumer Products Inc., Ying He, Edward Hua, Man Wai James Chiu, Zongshu Nie, Arnold Staloff, Yongmei Wang, Yuehua Xia, Qi Hua Xu and Walter Zhao
Published: Aug. 24, 2013 | Result Date: Aug. 9, 2013 | Filing Date: Jan. 1, 1900 |Case number: 2:11-cv-3701 Settlement – $2,125,000
Court
USDC Central
Attorneys
Plaintiff
Laurence M. Rosen
(The Rosen Law Firm PA)
Defendant
Annah S. Kim
(Law Office of Annah S. Kim)
William H. Forman
(Scheper, Kim & Harris LLP)
Facts
James Rose filed a securities class action against Deer Consumer Products Inc. and several other defendants. The complaint alleged that the company made materially false and misleading statements and omissions related to the company's financial performance, business prospects, and financial condition, causing investors damages when the company's stock price fell following the revelation of the company's true financial condition.
Result
The parties agreed to settle the matter for $2.125 million.
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