Award: Varies
Deadline: June 23, 2025
If you purchased Sea Limited ADSs between November 15, 2022, and August 14, 2023, you could be eligible for compensation from a $46 million class action settlement.
Sea Limited has agreed to a $46 million settlement to resolve claims that it issued materially false and misleading statements concerning its Garena (digital entertainment) and Shopee (e-commerce) segments. The lawsuit alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Who Qualifies?
You are eligible if you:
- Bought or otherwise acquired Sea Limited’s publicly traded American Depositary Shares (ADSs) between November 15, 2022, and August 14, 2023, inclusive.
Settlement Payout Details
- Estimated Recovery: Approximately $1.03 per ADS before deductions for legal fees and administrative costs.
- Final payout depends on:
- The number of valid claims submitted
- The number of ADSs acquired
- Transaction timing relative to corrective disclosures
How to File a Claim
To receive a payment, submit a valid Proof of Claim form by June 23, 2025. You may file online or mail a completed form to the settlement administrator:
Mailing Address:
Sea Limited 2023 Securities Litigation
Claims Administrator
c/o JND Legal Administration
P.O. Box 91130
Seattle, WA 98111
Required Documentation
Claims must include documentation such as brokerage statements or trade confirmations that verify:
- Transaction dates
- Number of ADSs
- Purchase/sale prices
Payment Method
Approved claimants will receive payment via check mailed to the address on the claim form.
Settlement Fund Breakdown
- Total fund: $46,000,000
- Administration and notice costs: $850,000
- Attorneys’ fees: Up to $11,500,000
- Legal expenses: Up to $200,000
- Class representative service award: Up to $20,000
- Remaining funds distributed to eligible claimants
Important Dates
- Claim Deadline: June 23, 2025
- Fairness Hearing: July 1, 2025
- Payout Date: Payments will be distributed after court approval and claim review.
Why Was There a Settlement?
The lawsuit alleged that Sea Limited misled investors regarding the performance and outlook of its key business divisions. Sea Limited denied all wrongdoing but agreed to settle to avoid the expense and uncertainty of ongoing litigation.
Sources:
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.
