Perez v. Qudian Inc. et al
| Benedict Perez |
| Min Luo, Li Du, Chao Zhu, Lianzhu Lv, Qudian Inc., Diana Arias, Yi Cao, Carl Yeung and Shilei Li |
| Kaib Global Fund LP and Chunlei He |
| 1:2017cv09903 |
| 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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This docket was last retrieved on November 16, 2020. A more recent docket listing may be available from PACER.
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Filing 22
ORDER PRELIMINARILY APPROVING SETTLEMENT AND PROVIDING FOR NOTICE denying as moot (211) Motion to Dismiss; denying as moot (216) Motion to Dismiss; denying as moot (225) Motion for Settlement in case 1:17-cv-09741-JMF. 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) Filed In Associated Cases: 1:17-cv-09741-JMF, 1:17-cv-09796-JMF, 1:17-cv-09875-JMF, 1:17-cv-09903-JMF (yv)
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| Case Stayed Associated Cases: 1:17-cv-09741-JMF, 1:17-cv-09796-JMF, 1:17-cv-09875-JMF, 1:17-cv-09903-JMF(yv) |
| Set/Reset Hearings: Settlement Conference set for 4/27/2021 at 04:00 PM in Courtroom 1105, 40 Centre Street, New York, NY 10007 before Judge Jesse M. Furman. Associated Cases: 1:17-cv-09741-JMF, 1:17-cv-09796-JMF, 1:17-cv-09875-JMF, 1:17-cv-09903-JMF(yv) |
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Filing 21
ORDER. It has come to the Court's attention that, although Docket Nos. 17-CV-9796, 17-CV-9875, and 17-CV-9903 were consolidated with the lead case 17-CV-9741 on March 16, 2018, see ECF No. 80, the related cases were not closed. The Clerk of Court is hereby directed to close 17-CV-9796, 17-CV-9875, and 17-CV-9903, and to docket this Order in those cases as well. All future filings should be in 17-CV-9741. SO ORDERED. (Signed by Judge Jesse M. Furman on 8/13/20) Filed In Associated Cases: 1:17-cv-09741-JMF, 1:17-cv-09796-JMF, 1:17-cv-09875-JMF, 1:17-cv-09903-JMF (yv)
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| NOTICE OF CASE REASSIGNMENT to Judge Jesse M. Furman. Judge Gregory H. Woods is no longer assigned to the case. (jc) |
| NOTICE OF CASE REASSIGNMENT to Judge Gregory H. Woods. 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 20
ORDER GRANTING ALAN B. HERTZ AND THE ALAN HERTZ FAMILY 2012 TRUST'S MOTION FOR CONSOLIDATION OF RELATED ACTIONS, APPOINTMENT AS LEAD PLAINTIFF AND APPROVAL OF SELECTION OF CO-LEAD COUNSEL: granting (61 in case 17cv9741) Motion to Appoint Counsel; granting 61 Motion to Appoint Alan B. Hertz and the Alan Hertz Family 2012 Trust as Lead Plaintiff(s); granting 61 Letter Motion to Consolidate Cases 17cv9741 (as Lead Case) with 17cv9796, 17cv9875, 17cv9903. Having considered the motion of Alan B. Hertz and the Alan Hertz Family 2012 Trust(collectively "Hertz") for consolidation of the above-captioned actions (the "Actions"),appointment as lead plaintiff and approval of selection of co-lead counsel (the "Motion"), and good cause appearing, the Court ORDERS as follows: The Motion is GRANTED; The Actions are consolidated pursuant to Federal Rule of Civil Procedure 42(a) as In re Qudian Inc. Securities Litigation, Master File No. 1:1 7-cv-09741-RA; Alan B. Hertz and the Alan Hertz Family 2012 Trust are APPOINTED to serve as Lead Plaintiff pursuant to 15 U.S.C. 78u-4(a)(3)(B) in the above-captioned actions; Pursuant to 15 U.S.C. 78u-4(a)(3)(B)(v), Movants' selection of lead counsel is APPROVED, and Jack I. Zwick and Glancy Prongay & Murray LLP are APPOINTED as Co-Lead Counsel for the Class in the above-captioned actions. (Docketed in 17cv9741, 17cv9796, 17cv9875, 17cv9903) (Signed by Judge Ronnie Abrams on 3/16/2018) (ap) Modified on 3/16/2018 (ap).
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| CONSOLIDATED MEMBER CASE: Create association to 1:17-cv-09741-RA. (ap) |
| Filing 19 DECLARATION of Richard W. Gonnello in Opposition re: #14 MOTION to Appoint Chunlei He to serve as lead plaintiff(s) .. Document filed by Kaib Global Fund LP. (Attachments: #1 Exhibit A, #2 Exhibit B, #3 Exhibit C, #4 Exhibit D, #5 Exhibit E, #6 Exhibit F, #7 Exhibit G, #8 Exhibit H, #9 Exhibit I, #10 Exhibit J, #11 Exhibit K, #12 Exhibit L, #13 Exhibit M, #14 Exhibit N, #15 Exhibit O)(Gonnello, Richard) |
| Filing 18 MEMORANDUM OF LAW in Opposition re: #14 MOTION to Appoint Chunlei He to serve as lead plaintiff(s) . . Document filed by Kaib Global Fund LP. (Gonnello, Richard) |
| Filing 17 NOTICE of Non-Opposition re: #11 MOTION to Consolidate Cases 1:17-cv-09741-RA; 1:17-cv-09796-RA; 1:17-cv-09875-RA; 1:17-cv-09903-RA . MOTION to Appoint Kaib Global Fund LP to serve as lead plaintiff(s) . MOTION to Appoint Counsel ., #14 MOTION to Appoint Chunlei He to serve as lead plaintiff(s) .. Document filed by Chunlei He. (Eisenkraft, Michael) |
| Filing 16 DECLARATION of Steven J. Toll in Support re: #14 MOTION to Appoint Chunlei He to serve as lead plaintiff(s) .. Document filed by Chunlei He. (Attachments: #1 Exhibit A - PSLRA notice, #2 Exhibit B - PSLRA certification, #3 Exhibit C - Loss Chart, #4 Exhibit D - Firm Resume)(Eisenkraft, Michael) |
| Filing 15 MEMORANDUM OF LAW in Support re: #14 MOTION to Appoint Chunlei He to serve as lead plaintiff(s) . . Document filed by Chunlei He. (Eisenkraft, Michael) |
| Filing 14 MOTION to Appoint Chunlei He to serve as lead plaintiff(s) . Document filed by Chunlei He. (Attachments: #1 Text of Proposed Order)(Eisenkraft, Michael) |
| Filing 13 DECLARATION of Richard W. Gonnello in Support re: #11 MOTION to Consolidate Cases 1:17-cv-09741-RA; 1:17-cv-09796-RA; 1:17-cv-09875-RA; 1:17-cv-09903-RA . MOTION to Appoint Kaib Global Fund LP to serve as lead plaintiff(s) . MOTION to Appoint Counsel .. Document filed by Kaib Global Fund LP. (Attachments: #1 Exhibit A, #2 Exhibit B, #3 Exhibit C, #4 Exhibit D)(Gonnello, Richard) |
| Filing 12 MEMORANDUM OF LAW in Support re: #11 MOTION to Consolidate Cases 1:17-cv-09741-RA; 1:17-cv-09796-RA; 1:17-cv-09875-RA; 1:17-cv-09903-RA . MOTION to Appoint Kaib Global Fund LP to serve as lead plaintiff(s) . MOTION to Appoint Counsel . . Document filed by Kaib Global Fund LP. (Gonnello, Richard) |
| Filing 11 MOTION to Consolidate Cases 1:17-cv-09741-RA; 1:17-cv-09796-RA; 1:17-cv-09875-RA; 1:17-cv-09903-RA ., MOTION to Appoint Kaib Global Fund LP to serve as lead plaintiff(s) ., MOTION to Appoint Counsel . Document filed by Kaib Global Fund LP. (Attachments: #1 Text of Proposed Order)(Gonnello, Richard) |
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Filing 10
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 9
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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| Filing 8 ELECTRONIC SUMMONS ISSUED as to Diana Arias, Yi Cao, Li Du, Shilei Li, Min Luo, Lianzhu Lv, Qudian Inc., Carl Yeung, Chao Zhu. (sj) |
| Filing 7 REQUEST FOR ISSUANCE OF SUMMONS as to Qudian Inc., Min Luo, Chao Zhu, Li Du, Shilei Li, Yi Cao, Lianzhu Lv, Carl Yeung, and Diana Arias, re: #1 Complaint. Document filed by Benedict Perez. (Lieberman, Jeremy) |
| 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) |
| 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) |
| Filing 6 NOTICE OF APPEARANCE by Joseph Alexander Hood, II on behalf of Benedict Perez. (Hood, Joseph) |
| 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 4 REQUEST FOR ISSUANCE OF SUMMONS as to Qudian Inc., Min Luo, Chao Zhu, Li Du, Shilei Li, Yi Cao, Lianzhu Lv, Carl Yeung, and Diana Arias, re: #1 Complaint. Document filed by Benedict Perez. (Lieberman, Jeremy) |
| Filing 3 STATEMENT OF RELATEDNESS re: that this action be filed as related to 17-cv-09741. Document filed by Benedict Perez.(Lieberman, Jeremy) |
| Filing 2 CIVIL COVER SHEET filed. (Lieberman, Jeremy) |
| Filing 1 COMPLAINT against Diana Arias, Yi Cao, Li Du, Shilei Li, Min Luo, Lianzhu Lv, Qudian Inc., Carl Yeung, Chao Zhu. (Filing Fee $ 400.00, Receipt Number 0208-14492440)Document filed by Benedict Perez.(Lieberman, Jeremy) |
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