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IBSG International Inc (OTC: IBIN) Investor Securities Class Action Lawsuit 01/30/2009

  • If you purchased shares of IBSG International Inc (OTC: IBIN), 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

Case Dismissed
Company
IBSG International, Inc.
Security
OTC: IBIN

Case Name
IBSG International Shareholder Class Action Lawsuit 01/30/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

March 1, 2011 - The court dismissed the case with prejudice.
December 23, 2010 - The parties filed a stipulation of settlement.

November 15, 2010 - One lead plaintiff filed a second amended complaint.

October 8, 2010 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased IBSG International Inc (OTC: IBIN) common shares between February 2008 and January 12, 2009. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between February 2008 and January 12, 2009.

September 2, 2010 - The court granted defendants' motions to dismiss with leave to amend.

December 10, 2009 - Defendants filed motions to dismiss.

September 10, 2009 - The case was transferred to the U.S. District Court for the Southern District of Florida.

July 8, 2009 - Lead plaintiffs and lead counsel were appointed.

March 30, 2009 - Lead plaintiff motion was filed.

January 30, 2009 - An investor in shares of IBSG International Inc (OTC: IBIN) filed a lawsuit in the U.S. District Court for the Eastern District of New York on behalf of all persons or entities who acquired IBSG International Inc (OTC: IBIN) common stock between April 1, 2008 and January 12, 2009 over allegedly securities laws violations.

According to the complaint the plaintiff alleges that IBSG International Inc (OTC: IBIN) and senior management issued false and misleading financial statements in violation of the Securities Exchange Act of 1934. IBSG International Inc is a holding company for four software subsidiaries. Through these subsidiaries, IBSG International Inc provides various software solutions and services.