Settlement Proposed in Sea Limited Securities Litigation Case
Proposed Settlement Notification
Robbins Geller Rudman & Dowd LLP along with Abraham, Fruchter & Twersky, LLP has recently made public important information regarding a proposed settlement in the ongoing Sea Offerings Litigation.
Details Regarding the Class Action
In the Supreme Court of the State of New York, an action is pending related to the ongoing securities litigation involving Sea Limited.
Class Action Overview
This litigation pertains primarily to individuals and entities that purchased or acquired American Depositary Shares (ADSs) or 0.25% convertible senior notes that Sea Limited issued. The lawsuit has significant implications for various stakeholders involved with the company and its financial activities.
Proposed Settlement Amount
According to the latest updates, the plaintiffs, which include the City of Taylor Police and Fire Retirement System along with other entities, have reached a proposed settlement. The settlement is set at a substantial amount of $40,000,000 in cash. If approved, this sum will resolve all claims associated with this action.
Understanding Your Rights
If you qualify as a member of the Settlement Class, it’s essential to understand how your rights could be affected by this announcement. This proposed financial recompense is particularly relevant for anyone who participated in the aforementioned Sea offerings.
Upcoming Hearing
A crucial hearing is scheduled where the Court will assess the proposed settlement's fairness and adequacy. This hearing will take place in the New York County Courthouse. All interested parties are encouraged to attend, whether in person or virtually, to understand better the implications of this case.
Claim Submission Guidelines
If you are identified as a Settlement Class Member, you must take action to ensure eligibility for receiving a portion of the settlement funds. Specifically, a Claim Form must be submitted according to the prescribed guidelines, postmarked or submitted online before a designated deadline.
Requesting Additional Information
If you have not yet received the relevant notices or forms, you are advised to reach out to the Claims Administrator, Verita Global, for assistance. Contact methods include reaching out through their designated mailing address or via telephone.
Exclusion Requests
Should any member wish to exclude themselves from being part of the settlement, it is necessary to submit a request for exclusion. There is a strict deadline for this submission, and those who exclude themselves may miss the opportunity to share in the potential settlement proceeds.
Monitoring Developments
It is critical for all stakeholders to monitor updates concerning this case closely. Investigating the Court’s docket and the Claims Administrator's website will provide the latest information on the settlement and court proceedings.
Contact Information for Class Counsel
For any inquiries about this case or clarity on the settlement, class members should reach out to the respective Class Counsel noted in the settlement documents, ensuring that questions do not burden the court or defendants.
Frequently Asked Questions
What is the proposed settlement amount?
The proposed settlement amount is $40,000,000 in cash.
Who are the plaintiffs in this action?
The plaintiffs include the City of Taylor Police and Fire Retirement System and General Retirement System of the City of Detroit.
What should I do if I am a Settlement Class Member?
If you are a Settlement Class Member, ensure you submit your Claim Form by the established deadline to be eligible for benefits from the settlement.
How can I exclude myself from the settlement?
A request for exclusion must be postmarked by the specified deadline to ensure your exclusion from the settlement agreement.
Where can I find more information?
You can obtain additional information from the Claims Administrator or by monitoring the Court's docket for updates on the proceedings.
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