Chinese Fintech Co. Investors Want $7.5M Deal Approved
By Sarah Jarvis (November 16, 2021, 6:23 PM EST) -- A proposed class of investors has urged a New York federal judge to greenlight a $7.5 million cash deal with Jianpu Technology Inc. to settle claims that the online lending platform hid impending government regulations that could hurt its operations before its initial public offering.
Lead plaintiff Panther Partners Inc. said in a Monday memo that the court should grant preliminary approval of the settlement, calling it fair, reasonable and adequate in light of the risk that the settlement class might recover much less, or nothing, if the litigation were to continue.
"The proposed settlement is a very good recovery on...
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