Nova Lifestyle, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Nova Lifestyle, Inc
Date Filed:December 28th, 2018
Sector:Consumer Durables
Industry:Home Furnishings

According to the Complaint, Nova Lifestyle purports to design, manufacture, and sell residential and commercial furniture to middle and upper middle-income consumers worldwide.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Nova Lifestyle overstated its purported "strategic alliance" with Shanxi Wanginq to operate as lead designer and manufacturer for all furnishings in Shanxi Wanginq's planned $460 million senior care center in China; (2) Nova Lifestyle inflated its reported sales in 2016 and 2017 with Shanxi Wangqing and Merlino Lewis LLP; and (3) as a result, Nova Lifestyle's public statements were materially false and misleading at all relevant times.

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First Identified Complaint

George Barney, et al. v. Nova Lifestyle, Inc., et al.

Date Filed:December 28th, 2018
Class Period Start:December 3rd, 2015
Class Period End:December 20th, 2018
First Identified Complaint Filings
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