October 13, 2015 - The court approved the settlement with the individual defendant and entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.
June 23, 2015 - The court preliminarily approved the settlement.

June 19, 2015 - Parties (lead plaintiff and one individual defendant) filed a stipulation of settlement.

April 8, 2013 - The court granted the defendants motion to dismiss.

March 22, 2013 - The lead plaintiff filed another amended consolidated complaint.

January 25, 2013 - Defendant filed a motion to dismiss.

December 14, 2012 - The lead plaintiff filed a second amended consolidated complaint.

November 14, 2012 - The court granted the defendants motion to dismiss.

September 10, 2012 - Another defendant filed a motion to dismiss.

June 29, 2012 - The court denied the defendants motion to dismiss.

April 23, 2012 - Defendant filed a motion to dismiss.

February 29, 2012 - The court granted the lead plaintiff's notice.

February 28, 2012 - The lead plaintiff filed a notice of voluntary dismissal without prejudice against certain defendants.

November 18, 2011 - The lead plaintiff filed an amended consolidated complaint.

September 21, 2011 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

September 20, 2011 - The plaintiff who filed the complaint in the U.S. District Court for the Central District of California on May 23, 2011 filed a notice of voluntary dismissal without prejudice.

July 22, 2011 - Lead plaintiff motions were filed.

June 2, 2011 - Another investor filed a complaint in the U.S. District Court for the Central District of California.

May 27, 2011 - Another investor filed a complaint in the U.S. District Court for the Southern District of New York.

May 23, 2011 - An investor in American Depositary Shares of Longtop Financial Technologies Ltd (NYSE: LFT) filed a lawsuit in the U.S. District Court for the Central District of California against Longtop Financial Technologies Ltd over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between June 29, 2009 and May 17, 2011.

Longtop Financial Technologies Ltd reported an increase in its 12months Total Revenue from $8.65million on March 31, 207 to a 12months Total Revenue of $169.06million reported on March 31, 2010. Its Net Income rose over the same time frame from $0.77million to $59.09million.

Shares of Longtop Financial Technologies Ltd (ADR) rose from as low as $11.99 in 2008 to over $40 in 2010. However LFT shares decreased from over $40 per share during Nov 2010 to recently under $23 per share.

On April 26, 2011, Citron Research published a report raising certain concerns regarding Longtop Financial Technologies Ltd’s financial statements since its initial public offering in 2007. Among other things, the report highlights that in the fiscal year ended March 2010, Longtop Financial Technologies Ltd reported gross margins of 69% and non-GAAP operating margins of 49% compared to peers that “report gross margins between 15-50% and operating margins of 10-25% or even lower Among other things the report alleged Longtop Financial Technologies Ltd failure to disclose in its prospectus past misdeeds by the Chairman and the Chief Executive Officer, and engaging in off balance sheet transactions that created outsized margins.

On April 27, 2011, Longtop Financial Technologies Ltd issued a press release announcing that it will release its financial results on May 23, 2011 for its fourth quarter and full year ended March 31, 2011. In the April 27, 2011 press release Longtop Financial Technologies Ltd stated, in part, the following: “…Longtop states that its policy is not to comment on uusual market activity or rumors. In view of the unusual market activity in the stock of Longtop Financial Tech Limited, the NYSE has contacted the company in accordance with its usual practice; as a result of the market activity in the stock; the company has stated to the NYSE that its policy is not to comment on unusual market activity or rumors.”

On May 17, 2011, trading in Longtop Financial Technologies Ltd's stock was halted.

On May 23, 2011, Longtop Financial Technologies Ltd announced in a press release that its Chief Financial Officer Derek Palaschuk and outside auditor, Deloitte Touche Tohmatsu Ltd. ( Deloitte ), had both resigned. In its resignation letter dated May 22, 2011, Deloitte identified matters that may materially impact the fairness and reliability of Longtop Financial Technologies Ltd's quarterly and annual financial information for prior period financial reports and Deloitte declined to be associated with any of the Company's financial communications in 2010 and 2011.