Heng Ren Silk Road Investments LLC v. Sino Agro Food, Inc.

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK HENG REN SILK ROAD INVESTMENTS LLC et al., Plaintiffs, : 19-CV-2680 (JMF) -V- : ORDER SINO AGRO FOOD, INC. et al., : Defendants. : JESSE M. FURMAN, United States District Judge: The parties are hereby ORDERED to submit a joint letter, not to exceed three (3) pages, by July 21, 2020, addressing why the proposed notice is directed to shareholders who “owned stock of the Company as of June 30, 2020 and continue to own such stock through . . . the date of the Settlement Hearing,” ECF No. 90-5, §] 25 (emphasis added), rather than to all “current SIAF Shareholder[s]” as stated in the proposed order, ECF No. 94, 9/7. See also, e.g., White v. Auerbach, 500 F.2d 822, 828 (2d Cir. 1974) (discussing Rule 23.1, quoting that it requires notice to be provided to the company’s “shareholders”); In re Google Inc. S’holder Derivative Litig., No. CV-11-04248-PJH, Docket No. 147, at 31 (N.D. Cal. Nov. 6, 2014) (providing “[a]ny Google stockholder” with the opportunity to object); In re AOL Time Warner S’holder Derivative Litig., 2006 WL 2572114, at *2 (S.D.N.Y. 2006) (approving of settlement and notice as provided to the company’s “shareholders”’).

In addition, the parties should clarify the correct date of the Settlement Agreement.

Compare ECF No. 90-5, at 2 (stating that the agreement is “dated June 30, 2020”) with id. at 3 (“The Settlement was entered into as of June 27, 2020) and ECF No. 90-3, at 5-6 (agreement’s signature pages dated June 27, 2020).

Any corrected Proposed Notice should be filed with the joint letter by the same date.

SO ORDERED.

Dated: July 17, 2020 New York, New York SSE RMAN ited States District Judge