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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 July 24, 2018 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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April 30, 2018 - The court preliminarily approved the settlement.
March 27, 2018 - A stipulation of settlement filed by the parties.
March 6, 2017 - A notice of appeal was filed.
March 1, 2017 - The court dismissed the case.
January 9, 2017 - The court granted the motion to dismiss.
October 14, 2016 - A motion to dismiss the second amended complaint was filed.
September 14, 2016 - A second amended complaint was filed.
August 15, 2016 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.
April 4, 2016 - A motion to dismiss the amended complaint was filed.
February 19, 2016 - An amended complaint was filed.
October 9, 2015 - An investor in shares of ChinaCache International Holdings Ltd (ADR) (NASDAQ: CCIH) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by ChinaCache International Holdings Ltd in connection with certain allegedly false and misleading statements made between April 11, 2015 and August 20, 2015.
According to the complaint the plaintiff alleges on behalf of purchasers of ChinaCache International Holdings Ltd (ADR) (NASDAQ: CCIH) common shares between April 11, 2015 and August 20, 2015, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between April 11, 2015 and August 20, 2015 issued materially false and misleading statements to investors and/or failed to disclose that the platform migration to High Performance Cloud Cache was not successful, that the platform migration to High Performance Cloud Cache posed the risk of a negative impact on the Company’s financial performance, that as a result of the unsuccessful migration, the Company’s revenue for the second quarter of 2015 would be below expectations, and that as a result, ChinaCache International Holdings Ltd’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. ChinaCache International Holdings Ltd reported that its annual Total Revenue increased from over $1.1 billion in 2013 to $1.38 billion in 2014 and that its Net Loss declined from $34.23 million in 2013 to $6.84 million in 2014. Shares of ChinaCache International Holdings Ltd (ADR) (NASDAQ: CCIH) grew to as high as $15.53 per share on June 10, 2015.
On August 20, 2015, ChinaCache International Holdings Ltd announced its second quarter 2015 financial results. Chairman and Chief Executive Officer of ChinaCache International Holdings Ltd, Mr. Song Wang, disclosed that ChinaCache International Holdings Ltd is currently experiencing some platform issues, which have impacted its top-line recently.
Shares of ChinaCache International Holdings Ltd (ADR) (NASDAQ: CCIH) declined to as low as $4.69 per share on August 24, 2015.