TCPI Sohal Securities Litigation
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Welcome to the TCPI Sohal Securities Litigation Website

The Settlement Hearing scheduled for August 1, 2017 at 12:00 PM EDT, has been rescheduled for August 1, 2017 at 11:00 AM EDT.

This website has been established to provide general information related to the proposed settlement ("Settlement") of the action entitled Sohal v. Yan, et al., Case No. 1:15-cv-00393-DAP (N.D. Ohio) (the "Litigation"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated April 11, 2017, which can be found and downloaded by clicking on the Case Documents tab above. 

This Litigation is currently pending before the Honorable Dan A. Polster in the United States District Court for the Northern District of Ohio (the "Court").

The Court ordered that the law firm of Robbins Geller Rudman & Dowd LLP represents the Class Members, including you. These lawyers are called Lead Counsel. If you want to be represented by your own lawyer, you may hire one at your own expense.

The Settlement provides that, in exchange for the release of the Released Claims and dismissal of the Litigation, Defendants have agreed to pay (or cause to be paid) $7.175 million in cash to be distributed after taxes, fees, and expenses, pro rata, to eligilble Class Members who send in a valid Proof of Claim pursuant to the Court-approved Plan of Allocation. The Plan of Allocation is described in more detail in the Notice of Pendency and Proposed Settlement of Class Action (the "Notice").

Background and Description of the Litigation

Lead Plaintiff alleges that Defendants (the TCPI Defendants and the Underwriter Defendants) made false and misleading statements and/or failed to disclose adverse facts in TCPI’s offering materials and other public statements pertaining to, among other things, the regulatory certification processes for TCPI’s products. Specifically, Lead Plaintiff alleges that Defendants failed to disclose that: (i) driven by the desire to increase production, lower costs and improve margins, the TCPI Defendants were bypassing the Underwriters Laboratory (“UL”) and Energy Star certification process by placing non-compliant products into the marketplace; and (ii) the Company’s CEO had been consistently overriding and/or disregarding Company policies regarding, among other things: capital expenditures, customer credit and operating expenditure approvals, new product development processes, product design and safety certification, and the Company’s code of ethics for principal executive and senior financial officers.

Additional Information

The Class is defined as all Persons who purchased or otherwise acquired TCPI common stock at any time during the period from June 26, 2014, through and including February 26, 2015, including purchasers of TCPI common stock pursuant and/or traceable to the Registration Statement for TCPI's June 25, 2014 initial public offering, except those Persons and entities that are excluded.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation, both of which can be found and downloaded from the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

Your Legal Rights and Options in This Settlement

Submit a Proof of Claim The only way to be eligible to receive a payment from the Settlement. Proof of Claim forms must be postmarked or submitted online on or before September 6, 2017.
Exclude Yourself Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against TCPI or the other Released Persons about the legal claims being resolved by this Settlement. Requests for exclusion must be postmarked on or before July 7, 2017.
Object Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees, costs, and expenses. You will still be a Member of the Class. Objections must be received by the Court and counsel on or before July 7, 2017.
Go to the Hearing on August 1, 2017 Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel on or before July 7, 2017.
Do Nothing Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to sue about the claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court pertaining to the Litigation.

Important Dates & Deadlines

Submit a Proof of Claim September 6, 2017
Exclude Yourself July 7, 2017
Object July 7, 2017
Settlement Hearing August 1, 2017 at 11:00 AM EDT