Telestone Technologies Securities Litigation

Case No. 2:15-cv-00703-JMV-MF
United States District Court District Of New Jersey

Frequently Asked Questions



Footnotes:

  • 4. On January 19, 2016, in response to a letter from Lead Counsel, the Court dismissed without prejudice Telestone, certain of Telestone’s officers and directors, Mazars Scrl and Weisermazars LLP. As a result, the only remaining defendants are Daqing Han, Xiaoli Yu and Mazars CPA. [Return to Text]

  • 5. Pursuant to Section 21(D)(e)(1) of the Private Securities Litigation Reform Act of 1995, “in any private action arising under this title in which the plaintiff seeks to establish damages by reference to the market price of a security, the award of damages to the plaintiff shall not exceed the difference between the purchase or sale price paid or received, as appropriate, by the plaintiff for the subject security and the mean trading price of that security during the 90-day period beginning on the date on which the information correcting the misstatement or omission that is the basis for the action is disseminated.” The mean (average) closing price of Telestone common stock during the 90-day period beginning on June 3, 2013 (the date when Telestone common stock resumed trading over the counter after the end of the Class Period) and ending on August 29, 2013 was $0.60 per share. [Return to Text]

  • 6. Pursuant to Section 21(D)(e)(2) of the Private Securities Litigation Reform Act of 1995, “in any private action arising under this title in which the plaintiff seeks to establish damages by reference to the market price of a security, if the plaintiff sells or repurchases the subject security prior to the expiration of the 90-day period described in paragraph (1), the plaintiff’s damages shall not exceed the difference between the purchase or sale price paid or received, as appropriate, by the plaintiff for the security and the mean trading price of the security during the period beginning immediately after dissemination of information correcting the misstatement or omission and ending on the date on which the plaintiff sells or repurchases the security.” [Return to Text]

  • 7. The “Total Purchase Amount” is the total amount the Claimant paid (excluding commissions and other charges) for all Telestone common stock purchased or acquired during the Class period. [Return to Text]

  • 8. The Claims Administrator shall match any sales of Telestone common stock during the Class period, first against the Claimant’s opening position in Telestone common stock (the proceeds of those sales will not be considered for purposes of calculating market gains or losses). The total amount received (excluding commissions and other charges) for the remaining sales of Telestone common stock sold during the Class period shall be the “Total Sales Proceeds”. [Return to Text]

  • 9. The Claims Administrator shall ascribe a holding value of $0.30 per share to all Telestone common stock purchased during the Class period and still held as of the close of trading on June 3, 2013, which is the day Telestone’s shares resumed trading on the over-the-counter market following its NASDAQ delisting on April 17, 2013. The total calculated holding value for all Telestone common stock shall be the Claimant’s “Total Holding Value.” [Return to Text]

DO NOT CALL OR WRITE THE COURT, THE OFFICE OF THE CLERK OF THE COURT, MAZARS CPA OR THEIR COUNSEL REGARDING THE NOTICE.

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