China Dragon Reaches Deal With Investors Over Inflated IPO

Law360, New York (October 11, 2013, 7:17 PM EDT) -- A California federal judge on Thursday approved a settlement between shareholders and some of the defendants in a class action claiming U.S advertising company China Century Dragon Media Inc. inflated revenues from its Chinese television commercials to boost its stock price for a 2011 initial public offering.

U.S. District Judge John A. Kronstadt gave final approval for the $778, 333 settlement between shareholders of China Dragon and seven of the named defendants, including one of China Dragon’s officers, the company’s auditor MaloneBailey LLP, the four underwriters...
To view the full article, register now.