Overview of the Proposed Settlement for Sea Limited Shareholders
This notice concerns all individuals and entities who purchased Sea Limited's publicly-traded American Depositary Shares during the specified period. It is essential for all shareholders to carefully review this information, as it outlines their rights and options regarding the proposed settlement.
Details of the Class Action
The class action involves all persons and entities that acquired Sea Limited shares between November 15, 2022, and August 14, 2023. The United States District Court will oversee the proposed settlement, with a hearing scheduled to assess the settlement's fairness and adequacy. Shareholders who are part of this class should be aware of the implications of this litigation.
Settlement Hearing Information
A hearing is set to discuss the approval of a $46 million cash settlement that is intended to resolve any claims related to the litigation. This hearing will also consider the attorneys’ fees and expenses from the settlement fund. It aims to ensure that all procedures are fair and reasonable to all parties involved.
What to Expect at the Hearing
The Honorable Douglas L. Rayes will preside over the Settlement Hearing, which may be conducted via telephonic or video conference. Class Members should check the court's docket and related websites for any updates on the hearing's logistics.
Important Dates for Class Members
Shareholders must submit a Proof of Claim by June 23, 2025, to be eligible for any settlement benefits. This requirement is crucial, as failure to submit a claim may result in the loss of potential compensation. Additionally, Class Members who wish to object to the settlement must have their objections filed by June 10, 2025.
Steps to Follow for Claim Submission
If you hold shares from the defined period, ensure that you establish your claims by submitting the necessary forms promptly. This involves either mailing the documents or utilizing the electronic submission methods provided.
Exclusion from the Class
Class Members have the right to request exclusion from the settlement but must ensure that their request is submitted in a timely manner. Those who choose exclusion will not benefit from the settlement but will preserve their right to pursue individual claims.
Additional Information and Inquiries
For further questions regarding the settlement, participating class members can reach out to the Claims Administrator. It’s essential to avoid contacting Sea Limited directly or any court officials regarding these matters.
Stay informed and proactive about your rights and options as a shareholder, as this proposed settlement could significantly impact you.
Frequently Asked Questions
What is the purpose of this settlement notice?
This notice informs shareholders of Sea Limited about a proposed class action settlement that impacts their rights.
When is the settlement hearing scheduled?
The hearing is scheduled for July 1, 2025, to discuss the approval of the settlement terms.
What must I do to participate in the settlement?
To benefit from the settlement, you must submit a Proof of Claim by June 23, 2025.
How can I obtain more information about the settlement?
More details are available on the official website providing updates on the settlement.
What happens if I miss the deadlines?
Missing the deadlines for filing a claim or requesting exclusion may forfeit your rights under the settlement.
