Diodes Incorporated (NASDAQ: DIOD) Investor Securities Class Action Lawsuit 03/15/2013

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Company Name(s): 
Diodes
Case Name: 
Diodes Shareholder Class Action Lawsuit 03/15/2013
Case Status: 
Case Dismissed
Affected Securities
NASDAQ: DIOD
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
03/15/2013
Class Period Begin: 
02/09/2011
Class Period End: 
06/09/2011
Court of Filing: 
U.S. District Court for the Eastern District of Texas
Deadline To File for Lead: 
05/14/2013
Case Dismissed: 
01/13/2016
Summary: 

January 13, 2016 - The U.S. Court of Appeals for the Fifth Circuit affirmed the judgement of the District Court.

October 13, 2015 - The lead plaintiff filed a notice of appeal.

September 15, 2014 - The court granted defendants' motion to dismiss and ordered the case dismissed.

September 16, 2013 - The defendants filed a motion to dismiss.

August 1, 2013 - The lead plaintiff filed an amended complaint.

June 14, 2013 - The lead plaintiff and lead counsel were appointed.

May 14, 2013 - A lead plaintiff motion was filed.

March 15, 2013 - An investor in shares of Diodes Incorporated (NASDAQ: DIOD) filed a lawsuit in the U.S. District Court for the Eastern District of Texas against Diodes Incorporated over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 9, 2011 and June 9, 2011.

According to the complaint the plaintiff alleges on behalf of purchasers of Diodes Incorporated (NASDAQ: DIOD) common stock during the period between February 9, 2011 and June 9, 2011, that Diodes Incorporated and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding Diodes Incorporated's financial performance and future prospects.

Diodes Incorporated reported that its annual Revenue increased from $432.79 million in 2008 to $635.25 million in 2011. However, Diodes Incorporated reported that its Net Income fell from $76.73 million in 2010 to $50.74 million in 2011.

On June 9, 2011, Diodes Incorporated updated its financial guidance for the second quarter of 2011.

Shares of Diodes Incorporated (NASDAQ: DIOD) declined from as high as $34.22 per share in April 2011 to as low as $13.36 per share in November 2012.

On March 15, 2012, Diodes Incorporated (NASDAQ: DIOD) shares traded at slightly above $21 per share.