Dartell v. Tibet Pharmaceuticals, Inc. et al

  1. July 23, 2019

    3rd Circ. Says Board Observers Not Same As Directors

    The Third Circuit threw out on Tuesday investors' last remaining claim against two men allegedly liable for misrepresentations about a company's financial well-being ahead of its public debut, finding that board observers, who don't have voting rights, are distinct from directors.

  2. July 27, 2018

    Tibet Pharma Investors Escape Dismissal For Now In IPO Row

    A New Jersey federal judge on Friday rejected a bid to remove three lead plaintiffs from a class action alleging Tibet Pharmaceuticals Inc. lied about its financial health before its 2011 initial public offering, saying discovery was needed to determine whether they have standing to remain in the case.

  3. June 04, 2018

    Investors Denied Default $11.1M Award In Tibet Pharma Suit

    A New Jersey federal judge on Friday declined to enter an $11.1 million default judgment against Tibet Pharmaceuticals Inc. for allegedly lying about its financial health before its 2011 initial public offering, saying that while the company has yet to appear in the class action, the claims against its co-defendants are ongoing.

  4. February 22, 2018

    2 Tibet Pharma Defendants May Appeal Last Count In IPO Suit

    A New Jersey federal judge ruled Wednesday that two defendants in a class action accusing Tibet Pharmaceuticals Inc. of lying about its financial health before its 2011 initial public offering can appeal the judge's May opinion that dropped all but one count against them, saying the appellate court could end litigation for the pair.

  5. April 03, 2017

    Tibet Pharmaceuticals Exec Escapes Class Action Over IPO

    A New Jersey federal judge has allowed a director of a Tibetan pharmaceutical company to escape an investor class action alleging the company lied about its financial health ahead of a 2011 initial public offering, saying investors waited too long to serve him a copy of the suit.

  6. July 14, 2016

    Tibet Pharma Investors Ask Court To Dismiss IPO Suits

    Investors in a Tibetan pharmaceutical company that accused it of lying about its financial health ahead of a 2011 initial public offering told a New Jersey court Thursday that they had reached a $14 million settlement with the company's bankrupt underwriter last year, and that they are seeking a default judgment in their class action against the company itself.

  7. February 23, 2016

    Shareholders Win Cert. In Suit Over Tibetan Pharma Co.'s IPO

    A New Jersey federal judge on Monday granted class certification to investors claiming the parent company of a Tibetan pharmaceutical company misrepresented its financial health ahead of a 2011 initial public offering, ruling the investors purchased qualifying stock.