In re PPDAI Group Inc. Securities Litigation
| New York Eastern District Court | |
| Judge: | Taryn A Merkl |
| Referred: | Taryn A Merkl |
| Case #: | 1:18-cv-06716 |
| Nature of Suit | 850 Other Statutes - Securities/Commodities/Exchange |
| Cause | 15:77 Securities Fraud |
| Case Filed: | Nov 26, 2018 |
| Terminated: | Jan 27, 2022 |
| Last checked: Saturday May 25, 2019 5:47 AM EDT |
|
Defendant
Citigroup Global Markets Inc.
|
Represented By
|
|
Defendant
Jun Zhang
|
|
|
Defendant
Qiong Wang
|
|
|
Defendant
Neil Nanpeng Shen
|
|
|
Defendant
PPDAI Group Inc.
|
Represented By
|
|
Defendant
Zehui Liu
|
|
|
Defendant
Tiezheng Li
|
|
|
Defendant
Congliang Li
|
|
|
Defendant
Keefe, Bruyette & Woods, Inc.
|
Represented By
|
|
Defendant
Honghui Hu
|
|
|
Defendant
Simon Tak Leung Ho
|
|
|
Defendant
Shaofeng Gu
|
|
|
Defendant
Credit Suisse Securities (USA) LLC
|
Represented By
|
|
Defendant
Ronald Cao
|
|
|
Plaintiff
Kitty Fong
|
Represented By
|
|
Plaintiff
Golden Section Holding Corporation
|
Represented By
|
|
Plaintiff
Yogendra Goyal
|
Represented By
|
|
Plaintiff
Jing Lin
|
Represented By
|
|
Plaintiff
Weichen Lai
|
Represented By
|
GPO
Jan 21 2022
OPINION AND ORDER APPROVING SETTLEMENT AND AWARD OF FEES re Motion for Settlement Final Approval 76; Motion for Attorneys' Fees, Expenses, and Award to Plaintiffs 77. For the reasons discussed in the attached opinion and on the record during the 12/16/2021 Fairness Hearing, and as set forth in the attached orders, the Court certifies the class for the purposes of settlement and finds that the terms in the parties' Settlement Agreement 64 are fair, reasonable, and adequate. The Court also finds the requested attorneys' fees and expenses fair and reasonable given the contingent nature of the case and the substantial risks of non-recovery, the time and effort involved, and the result obtained for the Settlement Class. Therefore, the Court awards the requests for a fee in the amount of 33.33% (one-third) of the Settlement Amount and $69,681 in expenses. In addition, the Court approves of the requested award of $2,000 each for federal Plaintiffs Golden Section Holding Corporation and Weichen Lai, and state court Plaintiffs Ravindra Vora and Yizhong Huang, in consideration of their active participation in the respective actions. The Motion for Final Settlement Approval 76 is granted. The Motion for Attorneys' Fees, Expenses, and Award to Plaintiffs 77 is also granted. Concurrently with issuance of this opinion, the Court is issuing an Order and Judgment Granting Final Approval, an Order Approving the Plan of Allocation, and an Order Approving the Fees, Expenses, and Plaintiff Awards. The Clerk of Court is respectfully directed to enter judgment and close this case. So Ordered by Magistrate Judge Taryn A. Merkl on 1/21/2022. (Cahn, Gabriel) |
| Docket last updated: 79 minutes ago |
| Tuesday, August 16, 2022 | ||
| 88 | 88
4
pgs
order
Order on Motion for Disbursement of Funds
Tue 08/16 5:41 PM
ORDER: Plaintiffs' Unopposed Motion for Distribution of Class Action Settlement Fund86 is hereby granted. See attached Order. So Ordered by Magistrate Judge Taryn A. Merkl on 8/16/2022. (Cahn, Gabriel) |
|
| Friday, August 12, 2022 | ||
| 87 | 87
respm
Affidavit/Declaration in Support of Motion
Fri 08/12 4:28 PM
AFFIDAVIT/DECLARATION in Support re86 MOTION for Disbursement of Funds Plaintiffs' Unopposed Motion for Distribution of Class Action Settlement Fund Declaration of Jack Ewashko on Behalf of A.B. Data, Ltd. in Support of Plaintiffs' Motion for Distribution of Class Action Settlement Fund filed by Golden Section Holding Corporation, Weichen Lai. (Rosen, Laurence) |
|
|
Att: 1
Exhibits A-F
|
||
| 86 | 86
motion
Disbursement of Funds
Fri 08/12 4:25 PM
MOTION for Disbursement of Funds Plaintiffs' Unopposed Motion for Distribution of Class Action Settlement Fund by Golden Section Holding Corporation, Weichen Lai. (Rosen, Laurence) |
|
|
Att: 1
Memorandum in Support,
|
||
|
Att: 2
Proposed Order
|
||