Chinese Water Co. To Pay $5.1M In Shareholder Action

Law360, New York (September 13, 2013, 2:28 PM EDT) -- The plaintiffs in a proposed shareholder class action against Duoyuan Global Water Inc. asked a New York federal judge on Thursday to approve a $5.1 million settlement, possibly terminating claims the China-based water treatment company distorted its financial disclosures before going public.  

The proposed settlement follows nearly three years of litigation stemming from DGW's 2009 initial public offering. The IPO painted a company poised for success, an illusion later destroyed by a series of “devastating disclosures,” the plaintiffs alleged in their 2010 complaint. Under the settlement...
To view the full article, register now.




Case Information

Case Title

Li v. Duoyuan Global Water, Inc. et al

Case Number



New York Southern

Nature of Suit



George B. Daniels

Date Filed

September 20, 2010

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.