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1 day ago · The two investors filed suit against Qihoo, led by Chinese billionaire Zhou Hongyi, before the New York court in 2019. They claim the company failed to warn them of its intention to pull out of the regulated New York Stock Exchange (NYSE) and relist on the Shanghai Stock Exchange (SSE) in 2015 to seek a lower price for their shares.
The lawsuit has thus far completely backfired on Qihoo, ordering the company to pay a fine and post a public apology. The court dismissed all of Qihoo’s claims, which it is now appealing.
Briefing. December 03 2021. New US decision affecting Chinese companies going private and relisting . The United States Court of Appeals for the Second Circuit recently revived a securities class action lawsuit against Beijing-based Qihoo 360 Technology by investors who claim the company misled them regarding its plans to relist when seeking approval of a take-private transaction.
1 day ago · The company, Bobba, sells a bottled version of boba tea, or bubble tea, which is typically made of cold tea and chewy tapioca pearls. It originated in Taiwan during the 1980s before it became ...
Pomerantz achieved a significant victory for investors when the Second Circuit Court of Appeals vacated the district court’s dismissal of a securities fraud class action against Qihoo 360 Technology Co. Ltd. (“Qihoo”) on November 24, 2021. Qihoo is a leading technology company in China that provides internet security services and other ...
Jun 18, 2015 · Updated 4:43 AM PDT, June 18, 2015. BEIJING (AP) — China’s Qihoo 360 Technology Co. Ltd., a provider of Internet security products and popular mobile browser, has received a $9.1 billion offer from a group led by its chief executive to buy out its public shareholders. The offer for Qihoo’s U.S.-traded shares is the biggest yet in a wave ...
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3 days ago · On an episode of Canada’s "Dragons' Den," the actor criticized two business owners who claimed to have "transformed" boba tea. He later urged people to stop harassing the entrepreneurs.
