September 17, 2014 - The court ordered the authorization of the distribution of the net settlement fund.
June 10, 2014 - The court approved the settlement.

February 6, 2014 - The court preliminarily approved the settlement. The securities included in the settlement are: NYSE: GFC, GFC.WS, GFC.U, CIO, CIO.WS, CIO.U

February 4, 2014 - Parties filed a stipulation of settlement.

March 6, April 3, April 23, 2012 - The court granted in part and denied in part defendants' motions to dismiss.

December 7, 2011 - Defendants filed motions to dismiss.

October 26, 2011 - The lead plaintiffs filed a amended consolidated complaint on behalf of investors who purchased Gerova Financial Group Ltd (NYSE: GFC) common shares between January 8, 2010 and February 23, 2011. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between January 8, 2010 and February 23, 2011.

October 7, 2011 - The court ordered the transfer of the actions to the U.S. District Court for the Southern District of New York and consolidated into a multi-district case.

September 26, 2011 - The lead plaintiffs and lead counsel were appointed in a related action.

May 24, 2011 - A lead plaintiff motion was filed.

March 22, 2011 - An investor in shares of funds managed by Gerova Financial Group Ltd (NYSE: GFC now trading on the OTC sheets as GVFG) filed a lawsuit in the U.S. District Court for the Eastern District of New York against Gerova Financial Group Ltd on behalf of investors in Stillwater Funds investments who acquired shares of Gerova Financial Group Ltd pursuant to a share exchange agreement dated December 23, 2009, and that was completed on January 20, 2010.

According to the complaint the plaintiff alleges behalf of investors who exchanged the following Stillwater Funds investments for shares of Gerova Financial Group Ltd (NYSE: GFC) in the share exchange transaction on January 20, 2010 that Stillwater Capital Partners, Gerova Financial Group Ltd and certain of their current and former officers and directors violated Federal Securities Laws and breached fiduciary duties by failing to disclose material adverse facts, including related party transactions, in connection with the share exchange, resulting in substantial losses for Stillwater Funds' investors.

The Stillwater Funds included in the lawsuit are:

Stillwater Asset Backed Fund, , LP,
Stillwater Asset Backed Fund II, LP, a Delaware Partnership
Stillwater Real Estate Fund, LP, a Delaware Partnership
Stillwater WPB Venture Partners, LP, a Delaware Partnership
Stillwater WPB Venture Partners II, LP, a Delaware Partnership
Stillwater Market Neutral Fund, LP, a Delaware Partnership
Stillwater Market Neutral Fund II, LP, a Delaware Partnership
Stillwater Market Neutral Fund III, a Cayman Islands exempted company
Stillwater Matrix Fund, LP, a Delaware Partnership
Stillwater Loan Opportunities Fund LLC, a Delaware Partnership
Stillwater Loan Opportunities Fund SPC, a Cayman Islands exempted company
Stillwater Asset-Backed Offshore Fund, a Cayman Islands exempted company
Stillwater Asset-Backed Fund SPV, A Cayman Islands exempted company
Stillwater Asset-Backed Fund II Onshore SPV, a Cayman Islands exempted company
Stillwater Trade Capital, LLC

On Feb 10, 2011, Gerova Financial Group Ltd announced a reorganization of its board of directors and the management of Gerova Financial Group Ltd. It said it also accepted the resignation of four of the members of its board of directors, its Chairman and President.

Then on February 23, 2011, the New York Stock Exchange (NYSE) announced in a press release that it has suspended trading in Gerova Financial Group Ltd securities following “recent events at and public disclosures by the Company,” and that the NYSE is “evaluating both the need for further disclosure, as well as the overall suitability for continued listing of the Company’s securities.” Shares of Gerova Financial Group Ltd (NYSE: GFC) traded during December 2010 as high as $30 per share and fell until February 23 to $5.28 per share when the NYSE halted trading for GFC shares.