Recent Security Class Actions

Nova Lifestyle Inc. Common Stock (NASDAQ: NVFY)

Company Name:Nova Lifestyle Inc. Common Stock
Stock Symbol:NASDAQ: NVFY
Class Period Start:12/03/2015
Class Period End (inclusive):12/20/2018
Filing Deadline:02/26/2019

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.