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id: 1202

Global Cord Blood Corporation (CO) Corporate Fraud Case

S.D. New York
Court
1:24-cv-03071
Case number
04 Jun 2019
Class period Start
03 May 2022
Class period End
24 Jun 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 Submission
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
29 April 2022
Filing date
22 April 2024
Lead Plaintiff Deadline
24 June 2024
Collecting participants…
    Ticker
    CO.US