TEDU - The Rosen Law Firm P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Tarena International Inc. American Depositary Shares – TEDU | Benzinga
BROOKLYN, N.Y., Oct. 02, 2023 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Eastern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of Tarena International, Inc. American Depositary Shares (NASDAQ:TEDU):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED THE AMERICAN DEPOSITARY SHARES OF TARENA INTERNATIONAL, INC. ("TARENA") FROM AUGUST 16, 2016 THROUGH NOVEMBER 1, 2019, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of New York, that a hearing will be held on January 18, 2024 at 10:00 a.m. before the Honorable Pamela K. Chen, United States District Judge of the Eastern District of New York, 225 Cadman Plaza East, Courtroom 4F North, Brooklyn, NY 11201 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $3,500,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys' fees of up to one-third plus interest of the Settlement Amount, reimbursement of expenses of not more than $40,000 and a service payment of no more than $15,000 in total to Plaintiffs, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Second Amended Stipulation of Settlement, dated August ...