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