#United States #Class Action #Phoenix #American Depositary Shares #Sea Limited

Proposed Settlement of Class Action Involving Sea Limited

A recent court notice has illuminated a potential $46 million settlement for class members involved in the Sea Limited class action lawsuit. This notice pertains specifically to individuals and entities that purchased or acquired publicly-traded American Depositary Shares (ADS) of Sea Limited between November 15, 2022, and August 14, 2023.

Background of the Settlement

The United States District Court for the District of Arizona has authorized this notification as part of the legal process surrounding this class-action lawsuit. The plaintiffs argue that the defendants, including Sea Limited, engaged in actions that misled investors regarding the company's performance, which affected the value of their shares during this period.

The hearing for this proposed settlement is scheduled for July 1, 2025, at the Sandra Day O'Connor U.S. Courthouse in Phoenix, Arizona. During this session, the court will assess whether the proposed settlement is fair, adequate, and reasonable for all parties involved. Additionally, it will consider matters such as attorneys' fees and the distribution plan for any recoveries made.

What Class Members Need to Do

All potential class members are required to submit a Proof of Claim to share in the distribution from the Net Settlement Fund. The deadline for this submission is June 23, 2025. It is critical for those affected to act promptly to ensure their claims are recognized. Failure to submit the Proof of Claim by the deadline could result in rejection and ineligibility to receive recovery benefits from the settlement.

Right to Object or Exclude

Class members also have the right to voice their objections regarding the settlement, the proposed allocation plan, or the attorneys' fee requests. Objections must be filed and sent to both the court and lead counsel by June 10, 2025. For those who wish to opt out of the class, a formal request must also be submitted by the same date. Without timely objection or exclusion, all class members will be held to the terms of the settlement regardless of any claims made.

Further Resources and Inquiries

Potential claimants and class members are encouraged to stay informed by monitoring updates on the official litigation website, SeaLimited2023SecuritiesLitigation.com. Any updates or changes to the hearing logistics, including adjustments to the format of the hearing, will be communicated through this platform.

Direct inquiries about the settlement, the Proof of Claim, or the process should not be directed at Sea Limited, defendants, or the court. Instead, they can direct questions to Robbins Geller Rudman & Dowd LLP, the lead counsel representing the plaintiffs.

In conclusion, this settlement presents an important opportunity for individuals who have invested in Sea Limited during the specified period. Engaging with the legal process now could result in obtaining a fair recovery from the damages alleged in this lawsuit.