{"id":691239,"date":"2022-10-03T09:05:36","date_gmt":"2022-10-03T13:05:36","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-llp-announces-proposed-securities-class-action-settlement-on-behalf-of-purchasers-of-jiayin-group-inc-american-depository-shares-jfin\/"},"modified":"2022-10-03T09:05:36","modified_gmt":"2022-10-03T13:05:36","slug":"pomerantz-llp-announces-proposed-securities-class-action-settlement-on-behalf-of-purchasers-of-jiayin-group-inc-american-depository-shares-jfin","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-llp-announces-proposed-securities-class-action-settlement-on-behalf-of-purchasers-of-jiayin-group-inc-american-depository-shares-jfin\/","title":{"rendered":"Pomerantz LLP Announces Proposed Securities Class Action Settlement on Behalf of Purchasers of Jiayin Group, Inc. American Depository Shares &#8211; JFIN"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, Oct.  03, 2022  (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that the Supreme Court of the State of New York County of New York: Commercial Division has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of Jiayin Group, Inc. American Depository Shares (NASDAQ: JFIN):<\/p>\n<p align=\"justify\">\n        <strong>SUMMARY NOTICE OF PROPOSED SETTLEMENT<\/strong><br \/>\n        <strong> OF CLASS ACTION<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>TO: <\/strong><br \/>\n        <strong>ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED AMERICAN DEPOSITORY SHARES (\u201cADS\u201d) OF JIAYIN GROUP, INC. (\u201cJIAYIN\u201d OR THE \u201cCOMPANY\u201d) BETWEEN MAY 10, 2019 AND SEPTEMBER 2, 2020, INCLUSIVE, PURSUANT AND\/OR TRACEABLE TO JIAYIN\u2019S INITIAL PUBLIC OFFERING (\u201cIPO\u201d) ISSUED IN CONNECTION WITH THE COMPANY\u2019S MAY 10, 2019 IPO<\/strong>\n      <\/p>\n<p align=\"justify\">YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Supreme Court of the State of New York, County of New York, that a hearing will be held on December 2, 2022, at 11:30 a.m. before the Honorable Andrew Borrok, J.S.C., 60 Centre Street, Room 238, New York, New York 10007, for the purpose of determining: (1) whether the proposed Settlement<sup>1<\/sup> of the claims in the above-captioned Action for consideration including the sum of $2,000,000 should be approved by the Court as fair, reasonable, and adequate; (2)\u00a0whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Class Counsel for an award of attorneys\u2019 fees of up to thirty three percent of the Settlement Amount ($660,000) plus interest, reimbursement of expenses of not more than $150,000, and a Compensatory Award to Plaintiff of no more than $5,000, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation.<\/p>\n<p align=\"justify\">If you purchased or otherwise acquired American Depository Shares (\u201cADSs\u201d) of Jiayin Group, Inc. (\u201cJiayin\u201d or the \u201cCompany\u201d) between May 10, 2019 and September 2, 2020, inclusive, pursuant and\/or traceable to Jiayin\u2019s initial public offering (\u201cIPO\u201d) issued in connection with the Company\u2019s May 10, 2019 IPO, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Jiayin ADSs. If you have not received a detailed Notice Of Proposed Settlement Of Class Action (\u201cNotice\u201d) and a copy of the Proof of Claim and Release Form, you may obtain copies by visiting <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=T6zJLGsRzdmueBxU04TbdH6JnBf9r-IHH2Z40P3vRna4zNCtQO-Zef0oq9UlVnkASbmsLokM08QPzPsE6CjmSWz43ehkQssrnG6Z3T94GMt0168a_UfGpdesP12gqS-f\" rel=\"nofollow noopener\" target=\"_blank\">www.strategicclaims.net\/Jiayin\/<\/a> or by contacting the Claims Administrator toll-free at (866) 274-4004 or at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9wf1CcB2-ybXw1Vrb_hayCxElXRjNPwr3yD1BFrl13LGeqKw4ZLg8AmxkFRy8gFtJQLxMv-3B6vvfGqFI5NQvb_TGW-hKtcY1PKAEz_Ph-8=\" rel=\"nofollow noopener\" target=\"_blank\">info@strategicclaims.net<\/a>. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must fill out and submit a properly completed Proof of Claim by 11:59 p.m. on December 9, 2022 to the Claims Administrator at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=T6zJLGsRzdmueBxU04TbdH6JnBf9r-IHH2Z40P3vRnYHKOpWZ87zrOV4ggKNWkdf5qnuZ8W_9MO0h5LAD_hl32phzoyUmPjuvD4QDxCTqP4s7hoDW-vKZzTxAYnMrfG6\" rel=\"nofollow noopener\" target=\"_blank\">www.strategicclaims.net\/Jiayin\/<\/a>, establishing that you are entitled to recovery. If you are unable to fill out and submit a Proof of Claim electronically, you may mail a Proof of Claim at your own expense to the address listed in the detailed Notice postmarked no later than December 9, 2022 to the Claims Administrator, or email it to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9wf1CcB2-ybXw1Vrb_hayCxElXRjNPwr3yD1BFrl13J6gjSxg7dk4FDI_ejDUAxrc1oWDB8B0g0zNJmNEwcqDeo2WShpXgkONwvARG1dC6s=\" rel=\"nofollow noopener\" target=\"_blank\">info@strategicclaims.net<\/a>, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.<\/p>\n<p align=\"justify\">If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is postmarked no later than November 11, 2022, in the manner and form explained in the Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.<\/p>\n<p align=\"justify\">Any objection to the Settlement, Plan of Allocation, or Class Counsel\u2019s request for an award of attorneys\u2019 fees and reimbursement of expenses and award to Plaintiff must be in the manner and form explained in the detailed Notice and postmarked no later than November 11, 2022, to each of the following:<\/p>\n<table style=\"border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:33%;width:33%;min-width:33%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Clerk of the Court<\/strong><br \/>\n            <br \/>Supreme Court, NY County<br \/>60 Centre Street<br \/>New York, NY 10007<\/td>\n<td style=\"max-width:34%;width:34%;min-width:34%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Lead Counsel<\/strong><br \/>\n            <br \/>Jeremy A. Lieberman<br \/>Tamar A. Weinrib<br \/>POMERANTZ LLP<br \/>600 Third Avenue, 20<sup>th<\/sup> Floor <br \/>New York, NY 10016<\/td>\n<td style=\"max-width:33%;width:33%;min-width:33%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Counsel For Defendants<\/strong><br \/>\n            <br \/>Matthew Solum<br \/>Matthew Tharp<br \/>Kirkland &amp; Ellis LLP<br \/>601 Lexington Avenue<br \/>New York, NY 10022<\/td>\n<\/tr>\n<\/table>\n<p>\n        <br \/>If you have any questions about the Settlement, you may visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=T6zJLGsRzdmueBxU04TbdH6JnBf9r-IHH2Z40P3vRnZphG9W5wGNjERsQukgeE1ZL7oIetX3Xtdcu5g8asFgMmHKRWuFLZfpGgk5yTB3Y4jPdODXWkA5GnLRvQQ90fS4\" rel=\"nofollow noopener\" target=\"_blank\">www.strategicclaims.net\/Jiayin\/<\/a> or write to Class Counsel at the above address. <strong>PLEASE DO NOT CONTACT THE COURT OR THE CLERK\u2019S OFFICE REGARDING THIS NOTICE.<\/strong><\/p>\n<p>Dated: August 15, 2022<\/p>\n<p>__________________________________<br \/>BY ORDER OF THE SUPREME COURT,<br \/>NEW YORK COUNTY<\/p>\n<hr \/>\n<p align=\"justify\">\n        <sup>1<\/sup> Unless otherwise defined, all capitalized terms used herein have the same meanings as set forth in the Stipulation of Settlement, dated July 27, 2022 (\u201cStipulation\u201d).<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODYzOTE0OSM1MTAyNjgxIzIwMjMyNjc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/N2Y5OGExNjMtNGJkZS00ZWE2LWI3ZGUtYjRmNDNkZThkMzYyLTEwMzQ4MzY=\/tiny\/Pomerantz-LLP.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Oct. 03, 2022 (GLOBE NEWSWIRE) &#8212; Pomerantz LLP announces that the Supreme Court of the State of New York County of New York: Commercial Division has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of Jiayin Group, Inc. American Depository Shares (NASDAQ: JFIN): SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED AMERICAN DEPOSITORY SHARES (\u201cADS\u201d) OF JIAYIN GROUP, INC. (\u201cJIAYIN\u201d OR THE \u201cCOMPANY\u201d) BETWEEN MAY 10, 2019 AND SEPTEMBER 2, 2020, INCLUSIVE, PURSUANT AND\/OR TRACEABLE TO JIAYIN\u2019S INITIAL PUBLIC OFFERING (\u201cIPO\u201d) ISSUED IN CONNECTION WITH THE COMPANY\u2019S MAY 10, 2019 IPO YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Supreme Court &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-llp-announces-proposed-securities-class-action-settlement-on-behalf-of-purchasers-of-jiayin-group-inc-american-depository-shares-jfin\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pomerantz LLP Announces Proposed Securities Class Action Settlement on Behalf of Purchasers of Jiayin Group, Inc. American Depository Shares &#8211; JFIN&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-691239","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pomerantz LLP Announces Proposed Securities Class Action Settlement on Behalf of Purchasers of Jiayin Group, Inc. American Depository Shares - JFIN - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-llp-announces-proposed-securities-class-action-settlement-on-behalf-of-purchasers-of-jiayin-group-inc-american-depository-shares-jfin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pomerantz LLP Announces Proposed Securities Class Action Settlement on Behalf of Purchasers of Jiayin Group, Inc. 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(\u201cJIAYIN\u201d OR THE \u201cCOMPANY\u201d) BETWEEN MAY 10, 2019 AND SEPTEMBER 2, 2020, INCLUSIVE, PURSUANT AND\/OR TRACEABLE TO JIAYIN\u2019S INITIAL PUBLIC OFFERING (\u201cIPO\u201d) ISSUED IN CONNECTION WITH THE COMPANY\u2019S MAY 10, 2019 IPO YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Supreme Court &hellip; Continue reading &quot;Pomerantz LLP Announces Proposed Securities Class Action Settlement on Behalf of Purchasers of Jiayin Group, Inc. 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American Depository Shares (NASDAQ: JFIN): SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED AMERICAN DEPOSITORY SHARES (\u201cADS\u201d) OF JIAYIN GROUP, INC. (\u201cJIAYIN\u201d OR THE \u201cCOMPANY\u201d) BETWEEN MAY 10, 2019 AND SEPTEMBER 2, 2020, INCLUSIVE, PURSUANT AND\/OR TRACEABLE TO JIAYIN\u2019S INITIAL PUBLIC OFFERING (\u201cIPO\u201d) ISSUED IN CONNECTION WITH THE COMPANY\u2019S MAY 10, 2019 IPO YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Supreme Court &hellip; Continue reading \"Pomerantz LLP Announces Proposed Securities Class Action Settlement on Behalf of Purchasers of Jiayin Group, Inc. American Depository Shares &#8211; JFIN\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-llp-announces-proposed-securities-class-action-settlement-on-behalf-of-purchasers-of-jiayin-group-inc-american-depository-shares-jfin\/","og_site_name":"Market Newsdesk","article_published_time":"2022-10-03T13:05:36+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODYzOTE0OSM1MTAyNjgxIzIwMjMyNjc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-llp-announces-proposed-securities-class-action-settlement-on-behalf-of-purchasers-of-jiayin-group-inc-american-depository-shares-jfin\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pomerantz-llp-announces-proposed-securities-class-action-settlement-on-behalf-of-purchasers-of-jiayin-group-inc-american-depository-shares-jfin\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Pomerantz LLP Announces Proposed Securities Class Action Settlement on Behalf of Purchasers of Jiayin Group, Inc. 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