Investors Allege CEO Broke 'Virtually Every' Securities Law

Law360, New York (April 11, 2017, 1:34 PM EDT) -- Investors in a now-dissolved e-waste recycling company accused its CEO of running afoul of “virtually every applicable law” during his “villainous reign of dominance,” including allegations that he sold off company inventory for personal gain, according to a complaint filed in New York federal court Tuesday.

Three Chinese shareholders hit GR Supply Chain Management Inc. CEO Zhiyu Luo with a host of allegations in a derivative suit, alleging Luo sold GR Supply’s inventory on websites like eBay to pad his own wallet and later dissolved the...
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Case Information

Case Title

Yang et al v. GR Supply Chain Management Inc et al


Case Number

1:17-cv-02577

Court

New York Southern

Nature of Suit

Stockholders Suits

Judge

Jed S. Rakoff

Date Filed

April 10, 2017

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