Sea’s $46 Million Investor Class Settlement Gets Final Court Nod

Sea Ltd.‘s $46 million settlement garnered a federal court’s final blessing, resolving a proposed class action that alleged the company and top executives hid negative trends in its entertainment and e-commerce platforms post-pandemic.

Judge Douglas L. Rayes awarded the investors’ lead counsel 25% of that sum—$11.5 million—and $123,264 in litigation expenses. The US District Court for the District of Arizona judge awarded the lead plaintiff, a pension fund, $7,720 on July 11 as he entered the final judgment. The settlement frees the Singapore-based internet company of allegations that it downplayed to investors the then-impending impact of losing the ...