The settlement of this federal securities fraud class action lawsuit is on behalf of investors who purchased or otherwise acquired Momo Inc. (“Momo”) American Depositary Shares (“ADS”) between April 20, 2015 and May 10, 2019, inclusive (the “Class Period”).
Momo agreed to pay $5,000,000 to resolve this class action lawsuit alleging the company and certain of its officers and/or directors violated federal securities laws by making false or misleading statements.
What’s the status of the Settlement?
On August 4, 2021, the Court granted Final Approval of the Class Action Settlement. This action has concluded.
Who can file a claim?
The settlement class includes all persons or entities who:
- Purchased or otherwise acquired Momo ADS between April 20, 2015 and May 10, 2019, inclusive.
How much is the Settlement Payment?
Pro rata payment: The total settlement fund is $5,000,000. The amount each class member receives will depend on several factors, including:
- The number of valid claims submitted
- The number of shares purchased and sold
- The dates of purchase and sale
- The price paid for the shares and the price received upon sale
How do I file a claim?
The deadline to file a claim was July 8, 2021. To submit a claim and/or to find additional information regarding the terms of the settlement and claim filing process, go to www.strategicclaims.net/Momo, or contact the claims administrator, Strategic Claims Services, at 1-866-274-4004.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com.