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id: 1202
Global Cord Blood Corporation (CO) Corporate Fraud Case
S.D. New York
Court1:24-cv-03071
Case number06/04/2019
Class period Start05/03/2022
Class period End06/24/2024
Lead Plaintiff motion deadline- $CO stockholder filed a claim vs. Global Cord Blood Corporation for fraudulent transactions intended to benefit insiders and related parties.
- On April 29, 2022 $CO fell 28.5%, on May 5, 2022 it fell 9%, on September 22, 2023 NYSE halted trading in $CO, and on June 22, 2023 NYSE struck $CO from listing.
- Global Cord Blood Corporation investors can join this case to be notified about potential recovery.
On April 29, 2022, Global Cord announced major acquisition for over $1 billion, which was diluting shareholders by half and depleting Company's cash.
Evidence was later presented in court showing that the transaction was part of a cover-up to hide at least $606M of fraudulent payments to insiders and related parties during 2015-2022.
As the information about the fraud gradually became public, $CO suffered several significant falls and finally was delisted from NYSE in June 2023.
One of the investors has already filed a class action against the Company for overstating revenue guidance. in S.D. New York court.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
04/29/2022
Filing date
04/22/2024
Lead Plaintiff Deadline
06/24/2024