February 09, 2017
A Chinese coal company and its former chairman must jointly pay investors $228 million for lying about its assets in U.S. securities filings, a New York federal judge ruled Wednesday in putting magistratical findings into effect after the company and ex-executive failed to object.
January 06, 2017
A Manhattan federal judge said Friday that Puda Coal and its former chairman Ming Zhao should be ordered to cough up $228 million to investor classes who claim they were defrauded into backing the Delaware-incorporated Chinese mining and coking concern.
October 19, 2015
Puda Coal investors said Friday that a Macquarie Group unit and Brean Murray have agreed to pay a combined $8.6 million to resolve claims in New York federal court over their underwriting of a stock offering for Puda, which allegedly had secretly sold its key subsidiary to a private equity firm.
June 18, 2014
Auditor Moore Stephens PC won summary judgment on Tuesday in a class action alleging Puda Coal Inc. concealed a transaction stripping it of its assets, with a New York federal judge ruling that Puda investors had failed to show that a reasonable auditor would have been more stringent.
June 01, 2012
Two independent directors of scandal-plagued Puda Coal Inc. and a merchant bank asked a New York federal judge on Friday to dismiss shareholders' putative class action against them over the allegedly secret sale of the company to a Chinese private equity firm.