August 31, 2015 - Parties filed a stipulation of settlement.
February 20, 2015 - The court denied the defendants' motions to dismiss.

July 7, 2014 - The defendants filed motions to dismiss.

June 10, 2014 - The case was transferred to the U.S District Court for the District of New Jersey and given a new case number of 14-CV-03620.

May 1, 2014 - The court denied the defendants' motion to dismiss.

June 20, 2013 - The defendants filed a motion to dismiss.

May 1, 2013 - The lead plaintiffs filed an amended consolidated complaint on behalf of investors who purchased Tibet Pharmaceuticals Inc (OTC: TBET) common shares between January 24, 2011 and April 3, 2012. The plaintiffs allege that the defendants violated the Securities Act of 1933 by issuing false and misleading statements between January 24, 2011 and April 3, 2012.

February 27, 2013 - Lead plaintiffs and lead counsel were appointed.

January 9, 2013 - All cases were consolidated.

August 31, 2012 - Another investor filed a complaint.

July 25, 2012 - Lead plaintiff motions were filed.

May 25, 2012 - An investor in shares of Tibet Pharmaceuticals Inc (OTC: TBET) filed a lawsuit in the U.S. District Court of the Virgin Islands against Tibet Pharmaceuticals Inc over alleged securities laws violations in connection with certain allegedly false and misleading statements made between December 28, 2010 and April 2, 2012.

According to the complaint the plaintiff alleged on behalf of investors who purchased the securities of Tibet Pharmaceuticals Inc (OTC: TBET) between December 28, 2010 and April 2, 2012, that Tibet Pharmaceuticals Inc, certain of its officers and directors, and underwriters violated Federal Securities Laws. Specifically, the plaintiff alleges that defendants issued between December 28, 2010 and April 2, 2012 allegedly inaccurate statements of material fact about Tibet Pharmaceuticals Inc’s true financial and business condition, which ultimately caused its stock (OTC: TBET) to be halted and delisted, causing investors to lose nearly their entire investment.

Tibet Pharmaceuticals Inc reported that its annual Revenue rose from $15.58 million in ’08 to $32.26 million in 2010 and its Net Income increased from $5.93 million in 2008 to $13.14 million in 2010.

For the first three quarters in 2011 Tibet Pharmaceuticals Inc reported a combined nine months Revenue of $25.57 million and a combined nine months Net Income of $7.75 million.

However, shares of Tibet Pharmaceuticals Inc (OTC: TBET) declined from $5.53 per share in January 2011 to as low as $0.72 per share in February 24, 2012.

Tibet Pharmaceuticals Inc (OTC: TBET) shares closed on April 2, 2012 at $1.29 per share. The next day the stock market announced that it had halted trading in Tibet Pharmaceuticals Inc stock for “additional information requested.”

The trading halt has rendered Tibet Pharmaceuticals stock illiquid.