#China #Beijing #Class Action #Berger Montague #Sina Corporation

Class Action Lawsuit Against Sina Corporation by Berger Montague

Recently, the prominent law firm Berger Montague PC has launched a class action lawsuit aimed at protecting the interests of investors in Sina Corporation. This legal action focuses on investors who sold Sina shares during a specific period, notably amid the company’s transition to a private entity. The lawsuit covers transactions made from October 13, 2020, to March 22, 2021.

Background on Sina Corporation

Sina Corporation, widely recognized for its role in the digital media space, is headquartered in Beijing, China. The firm operates as a global entity, delivering a variety of online content ranging from news and social media to entertainment and financial services, catering predominantly to Chinese-speaking audiences globally.

As the investigation unfolds, Berger Montague has alleged that the defendants created a deceptive scheme intended to undermine the true value of Sina's ordinary shares. This action was allegedly initiated to avoid compensating shareholders fairly during the company's planned go-private merger.

According to the lawsuit, there was a failure on the part of the defendants to disclose the actual value of a crucial investment made by Sina in TuSimple, a notable U.S.-based autonomous trucking company, at the time of the transaction. The claims assert that the cash offer made during the acquisition starkly undervalued the actual worth of Sina shares.

Details of the Allegations

Insights revealed during a related shareholder appraisal proceeding brought to light internal documents that pointed towards an awareness among senior executives regarding the true valuation of the company’s investment. Despite this knowledge, they allegedly chose to conceal it from investors, which meant shareholders were deprived of the proper value of their holdings during the merger process.

Investors who sold their SINA securities within the specified class period are encouraged to come forward. The deadline for individuals to step forward as lead plaintiff representatives is set for November 18, 2025. This action provides a crucial opportunity for affected investors to understand their rights and potentially seek recompense for their financial losses.

How to Get Involved

If you're a Sina investor and would like to gather more information about this class action, Berger Montague has provided contact details for inquiries. Andrew Abramowitz, Senior Counsel, is available at (215) 875-3015, or via email at [email protected]. Additionally, Caitlin Adorni, Director of Portfolio Institutional Client Monitoring Services, can be reached at (267) 764-4865 or [email protected].

About Berger Montague

Established in 1970, Berger Montague boasts a rich history in handling securities class action litigations across the United States. With offices in major cities including Philadelphia, Minneapolis, and San Francisco, the firm has a strong reputation among both individual and institutional investors. With over five decades of experience, Berger Montague continues to be a leading voice in the protection of investor rights.

In summary, this lawsuit by Berger Montague underscores the evolving landscape of investor rights and corporate accountability, especially within the framework of mergers and acquisitions. For investors in Sina Corporation, this situation encapsulates a critical moment to reflect on the value of transparency and fair dealing in corporate practices.