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Puda Coal, Inc.

Case Summary

Puda Coal, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 10/20/2015 (Ongoing date of last review)

Filing Date: April 14, 2011

On April 14, 2011, a Class Action Complaint was filed against Puda Coal, Inc. in the Central District of California. The Complaint alleges that throughout the Class Period Defendants misrepresented and/or failed to disclose, among other things: that the Company's Chairman, had transferred ownership/shares of SPCG to himself through a series of transactions; (49% of SPCG were sold); that, as a result, Puda did not possess the ownership interests in SPCG that the Company claimed to possess; (4) that the Company lacked adequate internal and financial controls; and (5) that, as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

Similar, purported class action complaints have also been filed in the U.S. District Courts for the Southern District of New York and the Central District of California.

On July 27, 2011, the Court issued an Order transferring this case to the Southern District of New York.

On December 6, 2011, the Court issued and Order consolidating cases, appointing lead plaintiffs, and approving the selection of lead counsel. On January 27, 2012, lead plaintiffs filed a consolidated complaint. On February 9, the lead plaintiffs filed a corrected version of their consolidated complaint.

On March 18, 2013, the Court issued an Order on defendants' motions to dismiss. The Court granted the motions of certain defendants and denied the motions of others.

On April 21, 2014, the plaintiffs filed a Second Consolidated Amended Complaint.

On July 14, 2014, the Court issued an Order denying the underwriter defendants' motions to dismiss.

On October 16, 2015, the Plaintiffs entered a Stipulation of Settlement with underwriter defendants.

Company & Securities Information

Defendant: Puda Coal, Inc. website

COMPANY INFORMATION:

Sector: Energy
Industry: Coal
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: PUDA
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Yanli Lin, et al. v. Puda Coal Inc., et al.

COURT: S.D. New York
DOCKET #: 11-CV-03177
JUDGE: Hon.Jacqueline H. Nguyen
DATE FILED: 04/14/2011
CLASS PERIOD START: 11/13/2009
CLASS PERIOD END: 04/08/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. The Rosen Law Firm, P.A.
    333 South Grand Avenue, 25th Floor, The Rosen Law Firm, P.A., CA 90071
    213.785.2610 213.226-4684 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Complaint - Demand for Jury Trial 04/14/2011
2 Order Granting Joint Stipulation and Transferring Case to Southern District of New York 07/27/2011
3 U.S. District Court Civil Docket 07/28/2011
4 U.S. District Court Civil Docket 07/28/2011

Reference Complaint

In Re Puda Coal Securities Inc. et al. Litigation

COURT: S.D. New York
DOCKET #: 11-CV-02598
JUDGE: Hon.Jacqueline H. Nguyen
DATE FILED: 01/27/2012
CLASS PERIOD START: 11/13/2009
CLASS PERIOD END: 10/03/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Kaplan Fox & Kilsheimer, LLP (New York)
    850 Third Avenue, 14th Floor, Kaplan Fox & Kilsheimer, LLP (New York), NY 10022
    212.687.1980 212.687.1980 ·
  3. Kirby McInerney LLP (New York)
    825 Third Avenue, Kirby McInerney LLP (New York), NY 10022
    212.371.6600 212.371.6600 ·
  4. Pomerantz Grossman Hufford Dahlstrom & Gross LLP (New York)
    600 Third Avenue, Pomerantz Grossman Hufford Dahlstrom & Gross LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  5. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Memorandum and Order 12/06/2011
2 Consolidated Complaint for Violations of the Federal Securities Laws 01/27/2012
3 Consolidated Complaint for Violations of the Federal Securities Laws [Corrected] 02/09/2012
4 Order 03/15/2013
5 U.S. District Court Civil Docket 03/25/2013
6 Opinion & Order 10/01/2013
7 U.S. District Court Civil Docket 10/15/2013
8 Notice of Appeal 10/28/2013
9 U.S. District Court Civil Docket 04/16/2014

Related District Court Filings

No Document Title Filing Date
1 Complaint For Violation Of The Federal Securities Laws 04/14/2011
2 Class Action Complaint For Violations Of Federal Securities Laws 04/19/2011
3 Class Action Complaint 04/19/2011
 
 

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