March 25, 2017 - The court granted defendants' motion to dismiss with prejudice and closed the case.
March 10, 2016 - Defendants filed a motion to dismiss.

January 15, 2016 - The lead plaintiff filed an amended complaint on behalf of investors who purchased American Depositary Receipts of AirMedia Group Inc (ADR) (NASDAQ: AMCN) between April 7, 2015 and June 15, 2015. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between April 7, 2015 and June 15, 2015.

November 10, 2015 - Lead plaintiff and lead counsel were appointed.

August 24, 2015 - Lead plaintiff motions were filed.

June 25, 2015 - An investor in American Depositary Receipts of AirMedia Group Inc (ADR) (NASDAQ: AMCN) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by AirMedia Group Inc in connection with certain allegedly false and misleading statements made between April 15, 2015 and June 15, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of AirMedia Group Inc (ADR) (NASDAQ: AMCN) common shares between April 15, 2015 and June 15, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that defendants made allegedly false and misleading statements regarding the purported sale of a 5% interest in AirMedia Group Inc’s advertising subsidiary, AirMedia Group Co., Ltd. (“AM Advertising”), to Shenzhen Liantronics Co. Ltd. (“Liantronics”), and the valuation of the subsidiary negotiated in the deal. AirMedia Group Inc’s press release announcing the sale stated that the deal “reflected the total valuation of AM Advertising of RMB3 billion,” or $500 million. The complaint alleges that defendants made additional statements between April 15, 2015 and June 15, 2015 claiming that RMB3 billion/$500 million was a solid valuation of the AM Advertising subsidiary and that as a result of defendants’ statements between April 15, 2015 and June 15, 2015, between April 15, 2015 and June 15, 2015 ADRs traded at allegedly artificially inflated prices, reaching a high price of $7.70 per ADR in intraday trading on June 15, 2015.

AirMedia Group Inc reported that its annual Total Revenue declined from $272.27 million in 2013 to $252.48 million in 2014 and that its respective Net Loss increased from $10.63 million to $25.70 million. Shares of AirMedia Group Inc (ADR) (NASDAQ: AMCN) declined from $3.21 per share in November 2014 to as low as $1.84 per share in late March 2015.

Since then NASDAQ: AMCN shares increased from under $2 in March 2015 to as high as $5.23 per share on April 24, 2015.

Then on April 24, 2015, a report was published on AirMedia Group Inc, which asserts that the touted investment by Shenzhen Liantronics into AirMedia Group Inc was a sham transaction.

Shares of AirMedia Group Inc (ADR) (NASDAQ:AMCN) declined on April 28, 2015, to $4.18 per share.

Later on June 15, 2015, AirMedia Group Inc issued a press release announcing that it had entered into a definitive agreement to sell a 75% equity interest in AM Advertising to Beijing Longde Wenchuang Fund Management Co., Ltd. (“Longde”) for RMB2.1 billion/$344.4 million.

Shares of AirMedia Group Inc (ADR) (NASDAQ: AMCN) declined from$7.70 per share on June 15, 2015, to as low as $3.51 per share on June 18, 2015.