Zolotukhin v. Qudian Inc. et al
| Kirill Zolotukhin |
| Stifel, Nicolaus and Company, Incorporated, Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Limited, Nomura Securities International, Inc., Min Luo, Li Du, Chao Zhu, UBS Securities LLC, Credit Suisse Securities (USA) LLC, Lianzhu Lv, Qudian Inc., Needham & Company, LLC, Morgan Stanley & Co. International PLC, Yi Cao, Carl Yeung and Shilei Li |
| 1:2017cv09894 |
| December 19, 2017 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| Jesse M Furman |
| Securities/Commodities |
| 15 U.S.C. § 77 |
| Plaintiff |
Docket Report
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Filing 8
ORDER PRELIMINARILY APPROVING SETTLEMENT AND PROVIDING FOR NOTICE. IT IS HEREBY ORDERED: Pursuant to Rule 23(a) and (b)(3) of the Federal Rules of Civil Procedure, the Court certifies, solely for purposes of effectuating the proposed Settlement, a Class consisting of all persons or entities that purchased or otherwise acquired Qudian American Depositary Shares ("ADS") in or traceable to Qudian's initial public offering (the "IPO") on or about October 18, 2017 (the "Class"). Excluded from the Class are as further set forth in this Order. The Court hereby finds and concludes that pursuant to Rule 23 of the Federal Rules of Civil Procedure, and for the purposes of the Settlement only, Lead Plaintiffs Alan B. Hertz and the Alan Hertz Family 2012 Trust, and additional named plaintiff Darwin Sutanto, are adequate class representatives and certifies them as Class Representatives for the Class. The Court also appoints Co-Lead Counsel as Class Counsel for the Class, pursuant to Rule 23(g) of the Federal Rules of Civil Procedure. The Court hereby preliminarily approves the Settlement, as embodied in the Stipulation, as being fair, reasonable, and adequate to the Class, subject to further consideration at the Settlement Hearing to be conducted as described below. The Court will hold a settlement hearing (the "Settlement Hearing") on April 27, 2021 at 4:00p.m. in Courtroom 1105, United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007, for the following purposes as further set forth in this Order. Co-Lead Counsel is hereby authorized to retain A.B. Data, Ltd. (the "Claims Administrator") to supervise and administer the notice procedure in connection with the proposed Settlement as well as the processing of Claims as more fully set forth below. Notice of the Settlement and the Settlement Hearing shall be given by Co-Lead Counsel as follows as further set forth in this Order. Until otherwise ordered by the Court, the Court stays all proceedings in the Action other than proceedings necessary to carry out or enforce the terms and conditions of the Stipulation. Pending final determination of whether the Settlement should be approved, the Court bars and enjoins Plaintiffs from commencing or prosecuting any and all of the Released Plaintiffs' Claims against each and all of Defendants' Releasees. The contents of the Settlement Fund held by Huntington National Bank (which the Court approves as the Escrow Agent) shall be deemed and considered to be in custodia legis of the Court, and shall remain subject to the jurisdiction of the Court, until such time as they shall be distributed pursuant to the Stipulation and/or further order(s) of the Court. Co-Lead Counsel shall file and serve the opening papers in support of the proposed Settlement, the Plan of Allocation, and Co-Lead Counsel's motion for an award of attorneys' fees and reimbursement of Litigation Expenses no later than thirty-five (35) calendar days prior to the Settlement Hearing, and reply papers, if any, shall be filed and served no later than fourteen (14) calendar days prior to the Settlement Hearing. Any opposition shall be filed no later than twenty-one (21) calendar days prior to the Settlement Hearing. The Court retains jurisdiction to consider all further applications arising out of or connected with the proposed Settlement. Lead Plaintiffs shall file a copy of the Supplemental Agreement described in Paragraph 37of the Stipulation under seal for the Court's consideration in camera.The Notices shall be modified to note that, due to the COVID-19 pandemic, the fairnesshearing may be conducted remotely and that class members should consult the docket.The pending motions to dismiss are denied as moot. The Clerk of Court is directed to terminate ECF Nos. 211, 216, and 225. SO ORDERED. (Signed by Judge Jesse M. Furman on 11/16/20) (yv)
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| NOTICE OF CASE REASSIGNMENT to Judge Jesse M. Furman. Judge Jed S. Rakoff is no longer assigned to the case. (jc) |
| NOTICE OF CASE REASSIGNMENT to Judge Jed S. Rakoff. Judge Kimba M. Wood is no longer assigned to the case. (jc) |
| NOTICE OF CASE REASSIGNMENT to Judge Kimba M. Wood. Judge Ronnie Abrams is no longer assigned to the case. (ma) |
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Filing 7
NOTICE OF VOLUNTARY DISMISSAL PURSUANT TO FED. R. CIV. P. 41(a)(1)(A): On December 19, 2017, Plaintiff Kirill Zolotukhin ("Zolotukhin") filed the above putative class action complaint against the Defendants. Notice is hereby given pursuant to Rule 41(a)(1)(A) of the Federal Rules of Civil Procedure that Plaintiff Zolotukhin voluntarily dismisses the Zolotukhin Action without prejudice. Because this notice of dismissal is being filed before service by the defendants of either an answer or a motion for summary judgment, Zolotukhin's dismissal of the Action is effective upon the filing of this notice. SO ORDERED. (Signed by Judge Ronnie Abrams on 2/02/2018) (ama)
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| Filing 6 NOTICE OF VOLUNTARY DISMISSAL Pursuant to Rule 41(a)(1)(A)(i) of the Federal Rules of Civil Procedure, the plaintiff(s) and or their counsel(s), hereby give notice that the above-captioned action is voluntarily dismissed, without prejudice against the defendant(s) Yi Cao, China International Capital Corporation Hong Kong Securities Limited, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Li Du, Shilei Li, Min Luo, Lianzhu Lv, Morgan Stanley & Co. International PLC, Needham & Company, LLC, Nomura Securities International, Inc., Qudian Inc., Stifel, Nicolaus and Company, Incorporated, UBS Securities LLC, Carl Yeung, Chao Zhu. Document filed by Kirill Zolotukhin. (Korsinsky, Eduard) |
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Filing 5
ORDER: In light of the hearing in these related actions scheduled for March 16, 2018 in order to consider any motions for appointment of lead plaintiff and for consolidation, the deadline in each action for Defendants to respond is extended sine die. The Court will establish a deadline after the forthcoming motions are resolved. (Docketed in 17cv9741, 17cv9796, 17cv9875, 17cv9894, 17cv9903.) (Signed by Judge Ronnie Abrams on 1/12/2018) (ap)
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Filing 4
ORDER: Accordingly it is hereby: ORDERED that a conference shall be held on March 16, 2018 at 2:00 p.m. in Courtroom 1506 of the United States Courthouse, 40 Foley Square, New York, New York 10007 to consider any motions for appointment of lead plaintiff and lead counsel and for consolidation. IT IS FURTHER ORDERED that the named plaintiffs shall promptly serve a copy of this Order on each of the Defendants. (Status Conference set for 3/16/2018 at 2:00 PM in Courtroom 1506, 40 Centre Street, New York, NY 10007 before Judge Ronnie Abrams.) (Signed by Judge Ronnie Abrams on 1/8/2018) (js)
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| Magistrate Judge Robert W. Lehrburger is so designated. Pursuant to 28 U.S.C. Section 636(c) and Fed. R. Civ. P. 73(b)(1) parties are notified that they may consent to proceed before a United States Magistrate Judge. Parties who wish to consent may access the necessary form at the following link: #http://nysd.uscourts.gov/forms.php. (wb) |
| CASE ACCEPTED AS RELATED. Create association to 1:17-cv-09741-RA. Notice of Assignment to follow. (wb) |
| NOTICE OF CASE REASSIGNMENT to Judge Ronnie Abrams. Judge Unassigned is no longer assigned to the case. (wb) |
| CASE OPENING INITIAL ASSIGNMENT NOTICE: The above-entitled action is assigned to Judge Unassigned. (sj) |
| Case Designated ECF. (sj) |
| CASE REFERRED TO Judge Ronnie Abrams as possibly related to 1:17cv9741. (sj) |
| Filing 3 STATEMENT OF RELATEDNESS re: that this action be filed as related to 1:17-CV-09741. Document filed by Kirill Zolotukhin.(Korsinsky, Eduard) |
| Filing 2 CIVIL COVER SHEET filed. (Korsinsky, Eduard) |
| Filing 1 COMPLAINT against Yi Cao, China International Capital Corporation Hong Kong Securities Limited, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Li Du, Shilei Li, Min Luo, Lianzhu Lv, Morgan Stanley & Co. International PLC, Needham & Company, LLC, Nomura Securities International, Inc., Qudian Inc., Stifel, Nicolaus and Company, Incorporated, UBS Securities LLC, Carl Yeung, Chao Zhu. (Filing Fee $ 400.00, Receipt Number 0208-14490875)Document filed by Kirill Zolotukhin. (Attachments: #1 Exhibit PSLRA Certification & Schedule A)(Korsinsky, Eduard) |
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