COMPANY |
Sea Limited |
COURT |
United States District Court for the District of Arizona |
CASE NUMBER |
23-cv-01455 |
JUDGE |
The Hon. Douglas Leroy Rayes |
CLASS PERIOD |
between April 19, 2021 and May 15, 2023 |
SECURITY TYPE |
Securities |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Sea Limited (“Sea”) (NYSE: SE) securities between November 15, 2022 and August 14, 2023, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding Sea's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Sea overstated its ability to manage the growth of its user base and loan book while enhancing its profitability; (2) Sea's expansion to a broader user base and growing loan book rendered the company significantly more vulnerable to higher credit losses; (3) as a result, Sea was likely to book a significant increase in loan loss reserves; (4) the foregoing was likely to have a significant negative impact on Sea's earnings; and (5) as a result, Sea's public statements were materially false and misleading at all relevant times.
Current Status of Case:
On December 22, 2023, the Lead Plaintiff filed an amended complaint.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.