Cases & Investigations

Medi-Hut Co., Inc. Securities Litig. (Medi-Hut I and II)

CASE NUMBER: 02-881; 03-4425
CASE STATUS: Settled
SETTLEMENT AMOUNT: $4.9 million
COURT: United States District Court for the District of New Jersey
TICKER SYMBOL: MHUT

This litigation involved two related class actions, both of which have been settled. The first was against Medi-Hut Co., Inc. and several of its officers, captioned In re: Medi-Hut Inc. Securities Litigation, U.S.D.C., D.N.J., No. 02-881 (“Medi-Hut I”). The second was against Medi-Hut’s auditing firm, Rosenberg, Rich, Baker, Berman and Co., captioned Smith et al. v. Rosenberg, Rich, Baker, Berman and Co.,  U.S.D.C., D.N.J., No. 03-4425 (“Medi-Hut II”). These cases involved fraudulent misstatements in Medi-Hut’s financial statements.

Medi-Hut I settled in 2004 for $400,000 in cash plus 861,990 shares of Medi-Hut common stock. Medi-Hut II settled in 2006 for $4.5 million.

Lead Attorneys

Sherrie Savett Headshot

Sherrie R. Savett

Chairwoman of the Firm & Managing Shareholder
Robin Switzenbaum Headshot

Robin Switzenbaum

Of Counsel
Jon Lambiras Headshot

Jon J. Lambiras

Shareholder

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