Elastos Securities Litigation

Subject to Court approval, Lead Plaintiffs have agreed to settle all claims and grant the Released Defendants a full and complete release of all Released Claims in exchange for a cash payment of $2,000,000 (the “Settlement Amount”), which, if approved, will resolve all claims in the Litigation (the “Settlement”).

If you are a member of the Settlement Class, your rights will be affected and you may be eligible for a payment from the Settlement. The Settlement Class consists of:

All Persons who purchased or acquired ELA Tokens in domestic transactions in the Elastos ICO, the Lock-In Program, or the secondary market between January 1, 2018 and July 27, 2023, and were damaged thereby (the “Settlement Class”).

Your legal rights are affected whether you act or don’t act. Read the Notice carefully.

Your Legal Rights and Options in This Action

Submit a Claim Form	A Proof of Claim (or “Claim Form”) must have been postmarked or electronically submitted no later than December 6, 2023. Unless the Court orders otherwise, if you did not timely submit a valid Proof of Claim, you will be barred from receiving any payments from the Net Settlement Fund but will in all other respects be bound by the provisions of the Stipulation and the Judgment.
Object	If you believe the Settlement is objectionable in any respect, you may write to the Court about why you oppose the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees, costs and expenses. You will still be a Class Member. Such objections, papers, and briefs must have been received or filed, not simply postmarked, on or before December 1, 2023.
Exclude Yourself	You will not be bound by the results of the Litigation, and you will not receive any payment. This is the only option that allows you to ever bring or be part of any other lawsuit against the Released Defendants about the legal claims related to the issues raised in the Litigation. If you request to be excluded because you want to bring your own lawsuit based on the matters alleged in the Litigation, you should consult an attorney and discuss whether it is too late to pursue your individual claim because it may be time-barred by the applicable statutes of limitations or repose. Your exclusion request must have been postmarked no later than December 1, 2023.
Attend the Settlement Hearing	The hearing on whether to approve the Settlement was held on December 22, 2023, at 3:00 p.m. ET (the “Settlement Hearing”). You did not need to attend the hearing.
Do Nothing	You may do nothing at all. If you choose this option, you will not share in the proceeds of the Settlement, but you will be bound by any judgment entered by the Court, and you shall be deemed to have, and by operation of the Judgment shall have, fully released all of the Released Claims against the Released Defendants.

The Frequently Asked Questions page of this website has more information on your rights as a Class Member in this Action.