Portfolio Categories Archives: Litigation

Ocwen Financial Securities Litigation

This is an abbreviated version of Battea’s Ocwen Financial securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: April 21, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons, other than defendants, who purchased or otherwise acquired Ocwen securities between May 11, 2015 and April 19, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934. To read more about the Ocwen Financial securities litigation, visit Battea’s Ocwen Financial news article.

NYSE:OCN
Lead Plaintiff Deadline6/20/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) Ocwen engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process; (ii) the foregoing conduct, when it became known would subject the company to heightened regulatory scrutiny and potential criminal sanctions; and (iii) as a result of the foregoing, Ocwen’s public statements were materially false and misleading.

Brief Company Profile

Ocwen Financial Corporation, a financial services holding company, engages in the servicing and origination of mortgage loans in the United States. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate. Ocwen Financial Corporation was founded in 1988 and is headquartered in West Palm Beach, Florida.

Class Period5/11/15 - 4/19/17
CourtS.D. Florida
Docket #17-cv-80500
JudgeRobin L. Rosenberg, presiding
Plaintiff(s)KAREN A. CARVELLI
Defendant(s)OCWEN FINANCIAL CORPORATION, RONALD M.
FARIS, and MICHAEL R. BOURQUE JR

Ocwen Financial Securities Litigation Price Chart

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Platinum Pari-Mutuel Holdings Securities Litigation

This is an abbreviated version of Battea’s Platinum Pari-Mutuel Holdings securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: March 3, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons and entities other than defendants who purchased or otherwise acquired the publicly traded securities of Platinum Pari from July 12, 2016 throught February 15, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.

OTC:PPMH
Lead Plaintiff Deadline5/2/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Platinum’s press releases and financial information lacked veracity; (2) Platinum’s disclosure controls and procedures were inadequate; and (3) as a result defendants’ public statements were materially false and misleading.

Brief Company Profile

Platinum Pari-Mutuel Holdings, through its subsidiary, develops software designed to enable users to follow and share information regarding the global financial markets.

Class Period7/12/16 - 2/15/17
CourtD. New Jersey
Docket #17-CV-01465
JudgeHon. Madeline Cox Arleo
Plaintiff(s)DANIEL ZAMPIRRI
Defendant(s)PLATINUM PARI-MUTUEL HOLDINGS, INC.,
PAUL BAIONI, JOHN MILLER, and JOHN WHITTAKER

Platinum Pari-Mutuel Holdings Securities Litigation Price Chart

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Lion Biotechnologies Securities Litigation

This is an abbreviated version of Battea’s Lion Biotechnologies securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: April 14, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons and entities other than defendants who purchased or otherwise acquired the publicly traded securities of Lion Biotechnologies between November 14, 2013 and April 10, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.

NASDAQ:LBIO
Lead Plaintiff Deadline6/13/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the company, through defendants, engaged in a scheme to mislead investors by commissioning over 10 internet publications and 20 widely distributed emails promoting Lion to potential investors that purported to be independent from the company when, in fact, they were paid promotions; (2) defendants engaged notorious stock promotion firm to pay writers to publish articles about Lion on investment websites as well as to coordinate distribution of articles to thousands of electronic mailboxes; and (3) defendants actively participated in Lidingo’s promotional work for Lion and understood that Lidingo was using writer who would not disclose that Lion was indirectly compensating them
for their publications.

Brief Company Profile

Lion Biotechnologies, Inc., a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient’s immune system to eradicate cancer cells. The company was formerly known as Genesis Biopharma Inc. and changed its name to Lion Biotechnologies, Inc. in September 2013. Lion Biotechnologies, Inc. was founded in 2007 and is headquartered in New York, New York.

Class Period11/14/13 - 4/10/17
CourtN.D. California
Docket #17-cv-02086
JudgeSusan Illston, presiding
Plaintiff(s)LEONARD DESILVIO,
Defendant(s)LION BIOTECHNOLOGIES, INC., MANISH
SINGH, MICHAEL HANDELMAN, and
ELMA HAWKINS

Lion Biotechnologies Securities Litigation Price Chart

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Insys Therapeutics Securities Litigation

This is an abbreviated version of Battea’s Insys Therapeutics securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: March 17, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons other than defendants who purchased or otherwise acquired Insys securities between February 23, 2016 and March 15, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.

NASDAQ:INSY
Lead Plaintiff Deadline5/16/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Insys had overstated its 2015 net revenue; (2) Insys had misstated its sales allowances for 2016; (3) accordingly, the company lacked effective internal controls over financial reporting; and (4) as a result, Insys’s public statements were materially false and misleading.

Brief Company Profile

Insys Therapeutics, Inc., a specialty pharmaceutical company, develops and commercializes supportive care products. The company markets Subsys, a proprietary sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant cancer patients. The company is headquartered in Chandler, Arizona.

Class Period2/23/16 - 3/15/17
CourtS.D. New York
Docket #17-CV-01954
JudgeHon. Paul A. Crotty
Plaintiff(s)KAYD CURRIER
Defendant(s)INSYS THERAPEUTICS, INC., SANTOSH J.
VETTICADEN and DARRYL S. BAKER
PASQUALE CONTE

Insys Therapeutics Securities Litigation Price Chart

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TherapeuticsMD Securities Litigation

This is an abbreviated version of Battea’s TherapeuticsMD securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: April 17, 2017

Case Summary

Securities class action on behalf of all investors who purchased or otherwise acquired TherapeuticsMD common stock between July 7, 2016 and April 9, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.

NYSE:TXMD
Lead Plaintiff Deadline6/16/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the company’s NDA submission for TX 004HR was deficient; (ii) the company’s NDA submission for TX 004HR was not supported by the complete TX 0004HR clinical program and/or the clinical program was deficient; (iii) the company’s deficient NDA would likely cause a delay of the FDA’s potential approval of the TX 004HR NDA; and (iv) as a result, defendants’ statements about TherapeuticsMD’s business, operations and prospects were false and misleading.

Brief Company Profile

TherapeuticsMD, Inc. operates as a women’s health care product company. The company manufactures and distributes prescription and over-the-counter product lines, including prenatal vitamins, iron supplements, and natural menopause relief products under the vitaMedMD brand, as well as generic formulations of its prescription prenatal vitamins products under the BocaGreenMD Prena1 name. TherapeuticsMD, Inc. was founded in 2008 and is headquartered in Boca Raton, Florida.

Class Period7/7/16 - 4/9/17
CourtS.D. Florida
Docket #17-cv-80473
JudgeNA
Plaintiff(s)JOSEPH PAOLI
Defendant(s)THERAPEUTICSMD, INC., ROBERT G. FINIZIO AND BRIAN BERNICK

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Endo International Securities Litigation

This is an abbreviated version of Battea’s Endo International securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: March 31, 2017

Case Summary

Class action on behalf of persons or entities that purchased or otherwise acquired Endo common stock pursuant to the company’s registration statement issued in connection with the June 5, 2015 secondary public offering of common stock pursuant to sections 11, 12(a) and 15 of the Securities Act of 1933.

NASDAQ:ENDP
Lead Plaintiff Deadline5/30/2017

Preliminary Allegations

The complaint alleges that rather than disclose the eroding market for Endo’s most important generic medications, the Prospectus stated that Endo’s generic division was capitalizing on encouraging demand trends for a different portfolio of controlled substances and liquids.

Brief Company Profile

Endo International plc develops, manufactures, and distributes pharmaceutical products and devices worldwide. Its U.S. Generic Pharmaceuticals segment provides tablets, capsules, powders, injectables, liquids, nasal sprays, ophthalmics, and transdermal patches for pain management, urology, central nervous system disorders, immunosuppression, oncology, women’s health, and cardiovascular disease markets. Endo International plc was founded in 1920 and is headquartered in Dublin, Ireland.

Class PeriodJune 5, 2015 Secondary Public Offering
CourtSupreme Ct of PA
Docket #17-cv-01466
JudgeNA
Plaintiff(s)Public Employees' Retirement System of Mississippi
Defendant(s)ENDO INTERNATIONAL PLC; RAJIV KANISHKA
LIYANAARCHCHIE DE SILVA; SUKETU P.
UPADHYAY; DANIEL A. RUDIO; ROGER H.
KIMMEL; SHANE M. COOKE; JOHN J. DELUCCA;
ARTHUR J. HIGGINS; NANCY J. HUTSON; MICHAEL
HYATT; WILLIAM P. MONTAGUE; JILL D.
SMITH; WILLIAM F. SPENGLER; GOLDMAN,
SACHS & CO.; J.P. MORGAN SECURITIES LLC;
BARCLAYS CAPITAL INC.; DEUTSCHE BANK
SECURITIES INC.; RBC CAPITAL MARKETS, LLC;
CITIGROUP GLOBAL MARKETS, LLC; MORGAN
STANLEY & CO. LLC; SUNTRUST ROBINSON
HUMPHREY, INC.; TD SECURITIES (USA) LLC;
and MITSUBISHI UFJ SECURITIES (USA) INC.,

Endo International Securities Litigation Price Chart

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FTD Securities Litigation

This is an abbreviated version of Battea’s FTD securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: March 20, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons other than defendants who purchased or otherwise acquired FTD securities between March 13, 2015 and March 14, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934. To read more about the FTD securities litigation, visit Battea’s FTD news article.

NASDAQ:FTD
Lead Plaintiff Deadline5/19/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) FTD’s financial statements contained errors relating to the assessment of cross border indirect taxes; (2) in turn, the company lacked effective internal controls over financial reporting; and (3) FTD had overstated the benefits of the Provide acquisition.

Brief Company Profile

FTD Companies, Inc., through its subsidiaries, operates as a floral and gifting company primarily in the United States, Canada, the United Kingdom, and the Republic of Ireland.
The company was formerly known as UNOL Intermediate, Inc. FTD Companies, Inc. is headquartered in Downers Grove, Illinois.

Class Period3/13/15 - 3/14/17
CourtN.D. Illinois
Docket #17-CV-02135
JudgeHon. Elaine E. Bucklo
Plaintiff(s)ROBERT WINOGRAD
Defendant(s)FTD COMPANIES, INC., ROBERT S. APATOFF,
CHRISTOPHER W. SHEAN, and BECKY A. SHEEHAN

FTD Securities Litigation Price Chart

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FusionPharm Securities Litigation

This is an abbreviated version of Battea’s FusionPharm securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: February 17, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons other than defendants who purchased or otherwise acquired FusionPharm securities between March 31, 2012 and May 16, 2014, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.

OTC:FSPM
Lead Plaintiff Deadline4/18/2017

Preliminary Allegations

The complaint alleges that defendants caused the company to issue materially misleading statements and/or omit material information regarding the company’s purported revenues. Specifically, defendants engaged in a fraudulent scheme by utilizing backdated convertible notes and preferred FusionPharm stock in order to cause the company to issue common stock to entities owned and/or controlled by defendants.

Brief Company Profile

FusionPharm, Inc. develops, manufactures, and sells a line of cultivation containers under the PharmPod brand name in the United States. Its PharmPods cultivation container system is used in the indoor plant cultivation. FusionPharm, Inc. was formerly known as Baby Bee Bright Corp. and changed its name to FusionPharm, Inc. in April 2011. The company was founded in 1998 and is based in Commerce City, Colorado.

Class Period3/31/12 - 5/16/14
CourtD. Colorado
Docket #17-CV-00454
JudgeHon. Kristen L. Mix
Plaintiff(s)JOSEPH SOLIMAN
Defendant(s)FUSIONPHARM, INC., SCOTT M. DITTMAN, and
WILLIAM J. SEARS

FusionPharm Securities Litigation Price Chart

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U.S. Physical Therapy Securities Litigation

This is an abbreviated version of Battea’s U.S. Physical Therapy securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: March 31, 2017

Case Summary

Securities class action on behalf of all persons and entities that acquired USPH’s securities between May 8, 2014 and March 16, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.

NYSE:USPH
Lead Plaintiff Deadline5/30/2017

Preliminary Allegations

The complaint alleges that defendants failed to disclose: (1) that the company had a material weakness in its internal controls over accounting and financial reporting; (2) that the company improperly accounted for redeemable non controlling interests of acquired partnerships in violation of Generally Accepted Accounting Principles; and (3) as a result, the company’s financial statements for the years ended December 31, 2015 and 2014, and all quarters within 2014 & 2015, and the first 3 quarters of 2016 contained material errors.

Brief Company Profile

U.S. Physical Therapy, Inc., through its subsidiaries, operates outpatient physical therapy clinics in the United States. Its clinics provide pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries. U.S. Physical Therapy, Inc. was founded in 1990 and is based in Houston, Texas.

Class Period5/8/14 - 3/16/17
CourtS.D. New York
Docket #17-CV-02347
JudgeHon. Naomi Reice Buchwald
Plaintiff(s)MAURA CULHANE
Defendant(s)U.S. PHYSICAL THERAPY, INC., CHRISTOPHER J.
READING, LAWRANCE W. MCAFEE, and
JON C. BATES

U.S. Physical Therapy Securities Litigation Price Chart

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Wins Finance Securities Litigation

This is an abbreviated version of Battea’s Wins Finance securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: April 4, 2017

Case Summary

Securities class action on behalf of all persons who purchased or otherwise acquired the securities of Wins Finance Holdings between October 29, 2015 and March 29, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.

NASDAQ:WINS
Lead Plaintiff Deadline6/3/2017

Preliminary Allegations

The complaint alleges that defendants made numerous materially false and misleading statements and omitted material facts concerning Wins’ business, operational and compliance policies, and particularly, the company’s projected earnings, valuation and future business operations.

Brief Company Profile

Wins Finance Holdings Inc., through its subsidiaries, provides financing solutions to small and medium enterprises in the Peoples Republic of China. It offers financial guarantee, leasing, and advisory and agency services primarily in Jinzhong City, Shanxi Province and Beijing. The company is headquartered in Beijing, the Peoples Republic of China.

Class Period10/29/15 - 3/29/17
CourtS.D. New York
Docket #17-CV-02434
JudgeHon. George B. Daniels
Plaintiff(s)DEBASISH DUTT
Defendant(s)WINS FINANCE HOLDINGS, INC., JIANMING HAO,
RENHUI MU, AND JUNFENG ZHAO

Wins Finance Securities Litigation Price Chart

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