November 24, 2014
A former Longtop Financial Technologies Ltd. executive could pay around $5 million in damages after a New York federal jury found him liable in a rare securities class action trial over the Chinese software company's accounting shenanigans, a plaintiffs' attorney said Monday.
November 21, 2014
A New York federal jury on Friday found a former Longtop Financial Technologies Ltd. executive liable for recklessly making misstatements about the Chinese software company's financial health, marking a victory for investors in a rare class action trial.
November 19, 2014
The chief financial officer of Longtop Financial Technologies Ltd. misled investors about the Chinese software company's accounting practices before it was exposed as a fraud in 2011, a plaintiffs' attorney said on Wednesday at the start of a rare class action trial in New York federal court.
November 14, 2013
A New York federal judge sided against Longtop Financial Technologies Ltd. and its CEO on Thursday, awarding $882 million to a class of investors who accused the Hong Kong-based financial services software developer of exaggerating the size of its profit margins.
April 08, 2013
A New York federal judge Monday tossed Deloitte Touche Tohmatsu CPA Ltd. as a defendant in a proposed class action accusing Hong Kong-based financial services software developer Longtop Financial Technologies Ltd. of lying to investors and exaggerating the size of its profit margins.