In re SMART Technologies, Inc. Shareholder Litigation

http://www.smarttechnologiesshareholderlitigation.com/

Court: United States District Court, Southern District of New York
Case Number: 11ā€CVā€7673ā€(KBF)
Judge: Hon. Katherine B. Forrest
Case Contacts: Hannah Ross, Jeremy P. Robinson

The In re SMART Technologies, Inc. Shareholder Litigation, No. 11-CV-7673-(KBF) (the “Action”) is a class action lawsuit brought by Lead Plaintiff the City of Miami General Employees’ and Sanitation Employees’ Retirement Trust.  This Action, which was brought in the United States District Court for the Southern District of New York, alleged that there were materially untrue statements and omissions in the public offering materials issued in connection with the July 14, 2010 Initial Public Offering of SMART Technologies Inc. (“SMART”) common stock. 

SMART is a Canadian company with its principal executive offices in Calgary, Alberta.  SMART’s primary business is the manufacture and sale of its “interactive whiteboard” products, which are modern replacements for the traditional chalkboards used in schools.  The Action alleged that that SMART and the other defendants made misrepresentations in the public offering materials concerning, among other things, the demand for SMART’s interactive whiteboard products and the demand for products manufactured by SMART’s “NextWindow” subsidiary.

The parties to the Action, together with the parties to a related class action pending in the Ontario Superior Court of Justice, Tucci v. SMART Technologies Inc., et al., Court File No. CV-12-447546-00CP, reached a global settlement (the “Settlement”) of the actions for $15,250,000 in U.S. dollars in cash that has resolved all claims asserted in the respective actions.  In September 2013, the U.S. and Canadian courts approved the Settlement.

For more information about the Settlement, please read the Notice, which can be obtained from the Case Documents page, or visit the SMART Technologies Shareholder Litigation website (www.SMARTTechnologiesShareholderLitigation.com).

Other Cases of Interest

  • Novo Nordisk
    District of New Jersey Salvatore J. Graziano, Hannah Ross, Katherine M. Sinderson, Adam Hollander, James M. Fee, Emily Strickland, Sandy Yaklin
  • Facebook, Inc. (Securities)
    Northern District of California John C. Browne, Jeremy P. Robinson, Kate Aufses, Alexander T. Payne, Damian Puniello
  • Symantec Corporation
    Northern District of California Salvatore J. Graziano, Jeroen van Kwawegen, Jeremy P. Robinson, Rebecca E. Boon, R. Ryan Dykhouse
  • HP Inc.
    Northern District of California Jeremy P. Robinson, Jonathan D. Uslaner, Hannah Ross, Avi Josefson, Michael D. Blatchley, Will Horowitz, Alexander T. Payne
  • EQT Corporation
    Western District of Pennsylvania Salvatore J. Graziano, Hannah Ross, Adam H. Wierzbowski, Jai K. Chandrasekhar, Alexander T. Payne, Jared Hoffman, Emily Strickland, Thomas Sperber, Jesse L. Jensen
  • Evoqua Water Technologies Corp.
    Southern District of New York Jeremy P. Robinson, Jai K. Chandrasekhar, Christopher Miles, Damian Puniello
  • Energy Transfer LP
    Eastern District of Pennsylvania John C. Browne, Hannah Ross, Michael D. Blatchley, Adam H. Wierzbowski, Michael Mathai, James M. Fee
  • AnaptysBio, Inc.
    Southern District of California John C. Browne, Hannah Ross, Lauren McMillen Ormsbee, Jonathan D. Uslaner, Alexander T. Payne
  • Myriad Genetics, Inc.
    District of Utah Hannah Ross, Adam H. Wierzbowski, Abe Alexander, Matthew Traylor, Nicholas Gersh
  • Citigroup, Inc.
    Southern District of New York John C. Browne, David Wales, John Rizio-Hamilton, Jeremy P. Robinson, Laura Lefkowitz, Catherine E. van Kampen