Class Action Settlement Proposed for Singularity Future Technology Investors: Key Details

Overview

Investors who purchased or acquired shares of Singularity Future Technology Ltd. (formerly known as Sino-Global Shipping America Ltd.) during the period from February 2, 2021, to February 24, 2023, may have an opportunity to participate in a proposed class action settlement. This lawsuit involves allegations related to violations of federal securities laws stemming from the company's actions during this timeframe.

Proposed Settlement Details

Simpluris, Inc., the court-appointed administrator for the settlement, has recently announced significant details regarding the class action in the case Gao v. Singularity Future Technology Ltd. et al., No. 122-cv-07499 (E.D.N.Y.). The primary aim is to provide an equitable resolution to the claims without the need for prolonged litigation, which can be costly and uncertain for all parties involved.

Here are the main points from the proposed settlement:

1. Settlement Fund: Singularity has agreed to establish a settlement fund of at least $6,500,000. This fund will cover the costs of litigation, fees, and other associated expenses, whilst also enabling the distribution of funds to qualified class members.

2. Eligibility Criteria: The settlement applies to any individual or entity that acquired Singularity securities within the specified date range. If you fall into this category, you are eligible to file a claim.

3. Claim Submission: To receive benefits from the settlement, impacted parties should visit www.SingularitySecuritiesSettlement.com or scan the provided QR code to submit claims. Alternatively, individuals can contact 1-844-496-0761 for a paper claim form. It is crucial that claims are submitted by January 16, 2026.

4. Legal Representation: The court has appointed experienced attorneys to represent the interests of the class members, ensuring a qualified legal framework for navigating the proceedings.

5. Exclusion and Objection Rights: Individuals who wish to exclude themselves from this settlement must do so by December 3, 2025. If a person excludes themselves, they forfeit the right to any settlement payments. Conversely, those wishing to object can also do so by the same date, and the court will evaluate their concerns during the hearing.

Upcoming Court Hearing

The court is scheduled to conduct a hearing on December 17, 2025, to determine whether the settlement can be approved. The primary considerations during this hearing will include fairness and adequacy of the proposed settlement and any objections raised by class members. It is not mandatory for individuals to attend the hearing, although they may do so at their own expense should they wish to.

In conclusion, those who invested in Singularity Future Technology Ltd. during the specified timeframe have the chance to benefit from the proposed class action settlement. Individuals are encouraged to stay informed and ensure their claims are submitted in a timely manner to secure their rights in this legal process. For ongoing updates and detailed instructions, please refer to www.SingularitySecuritiesSettlement.com.