Zolotukhin v. Qudian Inc. et al

Filing 9

ORDER APPROVING PLAN OF ALLOCATION OF NET SETTLEMENT FUND: NOW, THEREFORE, IT IS HEREBY ORDERED THAT: This Order incorporates by reference the definitions in the Stipulation and Agreement of Settlement dated November 13, 2020 (ECF No. 227-1, " ;Stipulation") and all capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Stipulation. The Court has jurisdiction to enter this Order approving the proposed Plan of Allocation, and over the subjec t matter of the Action and all parties to the Action, including all Class Members. The Court hereby finds and concludes that the formula for the calculation of the claims of Claimants as set forth in the Plan of Allocation mailed to Class Members provides a fair and reasonable basis upon which to allocate the proceeds of the Net Settlement Fund with due consideration having been given to administrative convenience and necessity. The Court hereby finds and concludes that the Plan of Allocation is, in all respects, fair and reasonable to the Class. (Signed by Judge Jesse M. Furman on 6/8/2021) (rro)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

Master File No.: 1:17-cv-09741-JMF
IN RE QUDIAN INC. SECURITIES LITIGATION Related cases:
1:17-cv-09796-JMF
1:17-cv-09903-JMF
1:17-cv-09875-JMF
1:17-cv-09894-JMF

[PROPOSED] ORDER APPROVING
PLAN OF ALLOCATION OF NET SETTLEMENT FUND

This matter came on for hearing on June 8, 2021 (the “Settlement Hearing”) on Plaintiffs’
motion to determine whether the proposed plan of allocation of the Net Settlement Fund (“Plan
of Allocation”) created by the Settlement achieved in the above-captioned class action (the
“Action”) should be approved. The Court, having considered all matters submitted to it at the
Settlement Hearing and otherwise; and it appearing that notice of the Settlement Hearing
substantially in the form approved by the Court was provided to all Class Members who or
which could be identified with reasonable effort, and that a publication notice of the hearing
substantially in the form approved by the Court was published in Investor’s Business Daily and
was transmitted over the PR Newswire pursuant to the specifications of the Court; and the Court
having considered and determined the fairness and reasonableness of the proposed Plan of
Allocation,
NOW, THEREFORE, IT IS HEREBY ORDERED THAT:
1.

This Order incorporates by reference the definitions in the Stipulation and

Agreement of Settlement dated November 13, 2020 (ECF No. 227-1, “Stipulation”) and all
capitalized terms not otherwise defined herein shall have the same meanings as set forth in the
Stipulation.
2.

The Court has jurisdiction to enter this Order approving the proposed Plan of

Allocation, and over the subject matter of the Action and all parties to the Action, including all
Class Members.
3.

Notice of Plaintiffs’ motion for approval of the proposed Plan of Allocation was

given to all Class Members who could be identified with reasonable effort. The form and
method of notifying the Class of the motion for approval of the proposed Plan of Allocation
satisfied the requirements of Rule 23 of the Federal Rules of Civil Procedure, the Private

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Securities Litigation Reform Act of 1995 (15 U.S.C. § 78u-4(a)(7)), due process, and all other
applicable law and rules, constituted the best notice practicable under the circumstances, and
constituted due and sufficient notice to all persons and entities entitled thereto.
4.

At least 40,203 Notice Packets, consisting of the Notice—which included the Plan

of Allocation—and Claim Form, were mailed to potential Class Members and nominees. No
objections to the Plan of Allocation have been received.
5.

The Court hereby finds and concludes that the formula for the calculation of the

claims of Claimants as set forth in the Plan of Allocation mailed to Class Members provides a
fair and reasonable basis upon which to allocate the proceeds of the Net Settlement Fund with
due consideration having been given to administrative convenience and necessity.
6.

The Court hereby finds and concludes that the Plan of Allocation is, in all

respects, fair and reasonable to the Class.
7.

There is no just reason for delay in the entry of this Order, and immediate entry

by the Clerk of the Court is expressly directed.

IT IS SO ORDERED.

June
8th
SO ORDERED this _________ day of __________________, 2021.

________________________________________
The Honorable Jesse M. Furman
United States District Judge

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