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If you purchased shares of China Green Agriculture Inc (NYSE: CGA), you might have certain options and should contact 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 12, 2014 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
July 22, 2014 - The court held a final settlement hearing.
March 20, 2014 - The court preliminarily approved the settlement.
March 18, 2014 - Parties filed a stipulation of settlement.
November 2, 2012 - The court granted in part and denied in part the defendants' motions to dismiss, dismissed all claims against certain defendants.
October 7, 2011 - The defendants filed motions to dismiss.
June 13, 2011 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased China Green Agriculture Inc (NYSE: CGA) common shares between May 12, 2009 and January 4, 2011. The lead plaintiffs allege that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between May 12, 2009 and January 4, 2011.
April 27, 2011 - The lead plaintiffs and lead counsel were appointed.
December 14, 2010 - Lead plaintiff motions were filed.
October 15, 2010 - An investor in shares of China Green Agriculture Inc (NYSE: CGA) filed a lawsuit in the U.S. District Court for the District of Nevada against China Green Agriculture Inc over alleged violations of Federal Securities Laws.
According to the complaint the plaintiff alleges that China Green Agriculture Inc and certain of its officers and directors violated federal securities laws by issuing between November 12, 2009 through September 1, 2010 misleading statements about its financial performance. The complaint further alleges that China Green Agriculture Inc's financial statements filed with the U.S. Securities and Exchange Commission for fiscal 2010 are materially false and misleading because China Green Agriculture Inc’s financial statements filed with Chinese authorities for the comparable periods are materially different. China Green Agriculture Inc’s 12 month total revenue went from $15.18million reported on June 30, 2007 to $22.61million reported on June 30, 2008, to $35.21million reported on June 30, 2009, and to $52.09million reported on June 30, 2010. Its Net Income went from $6.92million reported on June 30, 2007 to $21.29million reported on June 30, 2010.
Shares of China Green Agriculture Inc (NYSE: CGA) traded in 2006 at over $20 per share and increased in 2007 to over $23 per share. CGA shares dropped from $23 to under $12 per share in October 07. Since then shares of China Green Agriculture Inc dropped to recently under $10 per share.
China Green Agriculture Inc is engaged in the research, development, production and sale of various types of fertilizers and agricultural products in the People’s Republic of China.