-
You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of May 26, 2015 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.
-
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
You must register to view and download the Settlement Notice and Settlement Proof.
February 11, 2015 - The court preliminarily approved the partial settlement.
January 16, 2015 - An additional stipulation of settlement was filed by the parties.
June 30, 2014 - A notice withdrawing the appeal was filed.
December 26, 2013 - A notice of appeal was filed.
November 27, 2013 - The court approved the settlement.
August 2, 2013 - A modified stipulation of settlement was filed by the parties.
August 1, 2013 - The court preliminarily approved the settlement.
June 28, 2013 - A stipulation of settlement was filed by the parties.
October 29, 2012 - A motion to dismiss the consolidated complaint was filed.
February 16, 2012 - A consolidated complaint.
September 20, 2010 - An investor in shares of Duoyuan Printing Inc (NYSE: DYP now trading on the OTC sheets as OTC: DYNP) filed a lawsuit in the U.S. District Court for the Southern District of New York against Duoyuan Printing Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 6, 2009 and September 13, 2010.
The plaintiff alleges that Duoyuan Printing Inc and certain of its top officials violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder and Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 by issuing 6, 2009 through and including September 13, 2010 false and/or misleading statements. Duoyuan Printing Inc reported an revenue increase of 100% over the past four years.
Duoyuan Printing Inc reported on June 30, 2006 for the past 12months total revenue of $43.75million and on June 30, 2009 $106.59million total revenue. Its Net Income went over the same time period from $12.90million to $32.60million. Duoyuan Printing Inc’s Chairman, Wenhua Guo, is also Chief Executive Officer of Beijing-based Duoyuan Global Water Inc, a manufacturer of water treatment equipment.
Then, on September 13, 2010, Duoyuan Printing Inc announced in connection with Duoyuan Printing Inc's desire to resolve open issues and file our 10-K on a timely basis the dismissal findings of its independent registered public accounting firm, Deloitte Touche Tohmatsu CPA Ltd. and several other management changes including the resignations of the Company’s CEO, CFO and the head of the Company’s Audit Committee. The Audit Committee has undertaken an independent investigation into Deloitte Touche Tohmatsu CPA Ltd.’s suggestion that certain expenses be investigation. Upon this news, Duoyaun Printing Inc’s common stock declined by about 55%, or $3.60 per share, to close at $2.99 per share.