Sonar Capital Management LLC (NASDAQ: SIGM) Investor Securities Class Action Lawsuit 12/29/2011

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Company Name(s): 
Sonar Capital
Case Name: 
Sonar Capital Shareholder Class Action Lawsuit 12/29/2011
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: SIGM
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
12/29/2011
Class Period Begin: 
07/13/2007
Class Period End: 
11/28/2007
Court of Filing: 
U.S. District Court for the Eastern District of New York
Date Settled: 
03/08/2013
Settlement Amount: 
$550,000
Summary: 

August 19, 2015 - The lead plaintiffs filed a notice of appeal.

July 30, 2015 - The court granted defendants' motion to dismiss with prejudice and closed the case.

December 30, 2014 - The lead plaintiffs filed a third amended complaint.

November 1, 2013 - The court denied the defendants' motion to dismiss.

August 30, 2013 - The defendants filed a motion to dismiss.

July 22, 2013 - The lead plaintiffs filed a second amended complaint.

June 13, 2013 - The court granted defendants' motions to dismiss without prejudice to repleading.

March 13, 2013 - Parties filed an amended stipulation of partial settlement.

March 8, 2013 - The court preliminary approved the partial settlement.

February 8, 2013 - The court granted the defendants' motions to dismiss.

May 15, 2012 - The defendants filed motions to dismiss.

April 24, 2012 - The lead plaintiffs filed an amended complaint.

April 9, 2012 - The lead plaintiffs and lead counsel were appointed.

March 16, 2012 - An amended lead plaintiff motion was filed.

March 5, 2012 - Another lead plaintiff motion was filed.

March 2, 2012 - Lead plaintiff motion was filed.

December 29, 2011 - An investor in shares of Sonar Capital Management LLC (NASDAQ: SIGM) filed a lawsuit in the U.S. District Court Southern District of New York against Sonar Capital Management over alleged Violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between July 13, 2007 and November 28, 2007.

The lawsuit was filed on behalf of all persons and entities who sold shares of Sigma Designs Inc common stock between July 13, 2007 and November 28, 2007, both dates inclusive.

The plaintiff alleges that in 2006 and 2007, Sonar Capital Management LLC, Noah Freeman, a managing director of Sonar, and Neil Druker, the Chief Executive Officer and portfolio manager of Sonar Capital Management LLC, repeatedly and unlawfully purchased or caused the purchase of shares of Sigma Designs Inc while in possession of material, positive non-public information concerning Sigma Designs Inc.