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Deer Consumer Products Inc (NASDAQ: DEER) Investor Securities Lawsuit 03/08/2013

  • If you purchased shares of Deer Consumer Products Inc (NASDAQ: DEER), you might have certain options and should contact the Shareholders Foundation, Inc.

  • 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

Company
Deer Consumer Products, Inc.
Security
NASDAQ: DEER

Case Name
Deer Consumer Products Shareholder Class Action Lawsuit 03/08/2013
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Central District of California

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
deer_consumer_products_inc_settlement_notice_11_2015.pdf
Settlement Proof
deer_consumer_products_inc_settlement_proof_11_2015.pdf
Filed Complaint
deer_consumer_products_inc_original_filing_edited_3_2013.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$1,425,000.00
Deadline to Participate in Settlement

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Summary

October 20, 2016 - The court ordered the authorization of the distribution of the net settlement fund.
March 18, 2016 - The court approved the settlement and the plan of allocation and entered the order approving the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.

November 3, 2015 - The court preliminarily approved the settlement.

September 30, 2015 - Parties filed a stipulation of settlement.

June 19, 2014 - The lead plaintiffs filed a second amended complaint.

May 21, 2014 - The court granted the defendants' motion to dismiss and granted lead plaintiffs leave to file a second amended complaint.

September 13, 2013 - The defendants filed a motion to dismiss.

July 30, 2013 - The lead plaintiffs filed an amended complaint.

May 31, 2013 - The lead plaintiffs and lead counsel were appointed.

May 8, 2013 - A lead plaintiff motion was filed.

March 8, 2013 - An investor in shares of Deer Consumer Products Inc (NASDAQ: DEER now trading on the OTC sheets as DEER) filed a lawsuit in the U.S. District Court for the Central District of California against Goldman Kurland and Mohidin LLP, Deer Consumer Products Inc’s auditor over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between March 2, 2010 and March 21, 2011.

According to the complaint the plaintiff alleges on behalf of investors who purchased common stock of Deer Consumer Products Inc (NASDAQ: DEER) from March 2, 2010 to March 21, 2011, that Goldman Kurland and Mohidin LLP falsely stated that Deer Consumer Products Inc’s financial statements in its 2009 and 2010 10-Ks comported with U.S. Generally Accepted Accounting Principles while in reality Deer Consumer Products Inc’s revenues were overstated.

The plaintiff says that on March 9, 14, and 21, 2011, analyst Alfred Little issued a series of reports disclosing defendants' alleged fraud, which caused the stock price to drop, damaging investors.

Shares of Deer Consumer Products Inc (NASDAQ: DEER) declined from over $11 in May 2011 to as low as $0.13 on March 8, 2013.

deer_consumer_products_inc_original_filing_edited_3_2013.pdf
Date Settled