Gulf Resources Seeks OK On $2M Investor Class Deal

Law360, Los Angeles (August 5, 2013, 7:03 PM EDT) -- Gulf Resources Inc. urged a California federal judge on Monday to give preliminary approval to a $2.1 million settlement of a putative securities class action alleging the China-based chemical producer overstated its revenue, arguing the deal is a fair one for shareholders.

At a hearing, Stephen D. Hibbard, a lawyer representing Gulf Resources, said that “for the benefit of the class, [plaintiffs' counsel] made a very sage decision” to settle the case, given that the insurance policy covering the company's legal defense would have been depleted...
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Case Information

Case Title

Albert Snellink v. Gulf Resources, Inc. et al

Case Number



California Central

Nature of Suit

Other Statutory Actions


Otis D. Wright, II

Date Filed

April 29, 2011

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