I don't think the lawsuit has any grounds.. When the company is about to go IPO, it is required to disclose it to the market. And if that resulted in the share price going up, so be it..
The management reserves the right to cancel IPO if there are sudden changes to the circumstances. And that's exactly what happened in 2012.
The share price dropped 24% in that short period to $5.87.. BUT, those who persevere and hold has been rewarded. Look at the share price now.. It's $17.81.. Almost 300% up from the drop.. Now, who's complaining?
