Everyware Global Inc (NASDAQ: EVRY) Investor Securities Class Action Lawsuit 10/07/2014

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Company Name(s): 
Everyware Global
Case Name: 
Everyware Global Shareholder Class Action Lawsuit 10/07/2014
Case Status: 
Case Dismissed
Affected Securities
NASDAQ: EVRY
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
10/07/2014
Class Period Begin: 
06/18/2013
Class Period End: 
05/16/2014
Court of Filing: 
U.S. District Court for the Southern District of Ohio
Deadline To File for Lead: 
12/08/2014
Case Dismissed: 
02/21/2017
Summary: 

February 21, 2017 - The U.S. Court of Appeals for the Sixth Circuit affirmed the judgement of the district court.

April 29, 2016 - The lead plaintiff filed a notice of appeal.

March 30, 2016 - The court granted defendants' motions to dismiss and dismissed the case with prejudice.

August 14, 2015 - Defendants filed motions to dismiss.

May 15, 2015 - The lead plaintiff filed an amended complaint.

March 3, 2015 - The lead plaintiff and lead counsel were appointed.

December 8, 2014 - A lead plaintiff motion was filed.

October 7, 2014 - An investor in shares of Everyware Global Inc (NASDAQ: EVRY) filed a lawsuit in the U.S. District Court for the District Court for the Southern District of Ohio against Everyware Global Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between June 18, 2013 and May 16, 2014.

According to the complaint the plaintiff alleges on behalf of purchasers of Everyware Global Inc (NASDAQ: EVRY) common shares between June 18, 2013 and May 16, 2014, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between June 18, 2013 and May 16, 2014 E Everyware Global Inc made allegedly false and/or misleading statements, as well as allegedly failed to disclose material adverse facts about EveryWare's business, operations, and prospects, and that when this adverse information became known, the Company's share prices declined significantly.

Everyware Global Inc reported that its annual Total Revenue rose from $421.69 million in 2012 to $439.81 million in 2013 while its respective Net Loss increased from $3.96 million to $17.40 million.

On May 15, 2014, Everyware Global Inc announced its first quarter 2014 financial results. Everyware Global Inc announced that its total revenue for the first quarter of 2014 decreased $4.5 million, or 4.5%, to $94.8 million from $99.3 million in the first quarter of 2013 and that its Net loss totaled $38.4 million for the first quarter of 2014, compared to net income of $0.2 million for the first quarter of 2013.

Shares of Everyware Global Inc (NASDAQ: EVRY) declined from $12.95 per share in September 2013 to as low as $0.939 per share on May 16, 2014.

On October 7, 2014, Everyware Global Inc (NASDAQ: EVRY) shares closed at $2.11 per share.