| 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 November 15, 2022 through August 14, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
This is 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 March 14, 2025, the Lead Plaintiff filed a Motion for Preliminary Approval of Class Action Settlement. On March 18, 2025, the Court issued an Order preliminarily approving the Settlement and scheduled a Settlement Hearing on July 1, 2025. This action is ongoing.
The deadline to file a claim is June 23, 2025. If you have any questions or need further information about this settlement, you may go to the following website www.SeaLimited2023SecuritiesLitigatigation.com, or you can contact the claims administrator, JND Legal Administration, at 1-877-930-5821.
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.