$3.5 Million Settlement Wins Certification in Securities Case

Plaintiffs in a securities fraud class action have finalized a $3.5 million settlement in a case involving a Chinese-headquartered educational services company.

A federal judge approved the final settlement agreement and certified the settlement class in the case against Tarena International Inc., finding the unopposed plaintiffs’ motion for the settlement to be “fair, adequate, and reasonable.”

Each qualified class member is set to receive about $5,040, not including accrued interest on the litigation expenses, said Judge Pamela K. Chen with the US District Court for the Eastern District of New York. There were 435 valid claims not including the lead ...