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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of October 23, 2017 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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August 8, 2017 - The court preliminarily approved the settlement.
June 30, 2017 - A stipulation of settlement was filed by the parties.
March 8, 2017 - An amended complaint was filed.
November 9, 2016 - An investor in shares of Agria Corporation (ADR) (NYSE: GRO) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Agria Corporation in connection with certain allegedly false and misleading statements made between December 16, 2011 through November 4, 2016.
According to the complaint the plaintiff alleges on behalf of purchasers of Agria Corporation (ADR) (NYSE: GRO) common shares between December 16, 2011 through November 4, 2016, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between December 16, 2011 through November 4, 2016 the defendants throughout the class period made false and/or misleading statements and/or failed to disclose that defendants engaged in trading to artificially inflate Agria Corporation’s stock price in order to meet NYSE’s continuing listing standards and avoid delisting from the NYSE, that Agria Corporation lacked effective internal controls over financial reporting, and that as a result of the foregoing, defendants’ public statements about Agria Corporation’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.
Agria Corporation reported that its Total Revenue declined from $944.71 million for the 12 months period that ended on June 30, 2015 to $807.68 million for the 12 months period that ended on June 30, 2016 and that its Net Loss for those respective time periods increased from $0.45 million to $9.23 million.
On November 4, 2016, Agria Corporation announced it had received a letter stating the New York Stock Exchange planned to commence proceedings to delist Agria Corporation’s American Depositary Shares ( ADSs ). According to Agria Corporation, the NYSE letter stated that it had identified evidence indicating that a top executive and other intermediaries engaged in trading intended to artificially inflate Agria Corporation's stock price, and that the Company provided incomplete, misleading, or false information in connection with investigations related to these issues.
Trading of the Company’s ADSs was suspended on November 3, 2016.