TCP International Holdings Ltd (NYSE: TCPI) Investor Securities Class Action Lawsuit 11/11/2015

You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of March 5, 2018 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, FOLLOW THE DIRECTIONS IN THE "PROOF".

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Company Name(s): 
TCP International
Case Name: 
TCP International Shareholder Class Action Lawsuit 11/11/2015
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NYSE: TCPI
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
11/11/2015
Class Period Begin: 
05/09/2015
Class Period End: 
11/05/2015
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
01/11/2016
Settlement Amount: 
$1,100,000
Deadline to Participate in Settlement: 
03/05/2018
Summary: 

The settlement includes all persons who purchased or otherwise acquired TCP International Holdings Ltd common stock (ticker symbol: TCPI) on the public market between May 9, 2015, and November 5, 2015.

July 24, 2017 - Parties filed a stipulation of settlement.

March 18, 2016 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

November 11, 2015 - An investor in shares of TCP International Holdings Ltd (NYSE: TCPI) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by TCP International Holdings Ltd in connection with certain allegedly false and misleading statements made between May 8, 2015 and November 5, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of TCP International Holdings Ltd (NYSE: TCPI) common shares between May 8, 2015 and November 5, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between May 8, 2015 and November 5, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that TCP International Holdings Ltd’s Chairman, defendant Ellis Yan (“Yan”), had made improper payments with his personal funds relating to TCP International Holdings Ltd’s business, that improper relationships existed between Yan and the Company’s Vice-Chairman, Zhaoling Yan, and certain vendors, and that as a result of the foregoing, defendants’ statements about TCP International Holdings Ltd’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On November 5, 2015, TCP International Holdings Ltd announced that it will delay the release of its third quarter financial results due to a pending Audit Committee investigation. TCP International Holdings Ltd also announced that it does not anticipate filing its third quarter Form 10-Q by the extended due date of November 23, 2015.