Order to Show Cause: Sonny St. John Individually and on Behalf of All Others Similarly Situated, v. Cloopen Group Holding Limited, Changxun Sun, Yipeng Li, Kui Zhou, Qingsheng Zheng, Xiaodong Liang, Zi Yang, Ming Liao, Feng Zhu, Lok Yan Hui, Jianhong Zhou, Ching Chiu, Cogency Global Inc., Colleen A. Devries, Goldman Sachs (Asia) L.L.C., Citigroup Global Markets, Inc., China International Capital Corporation Hong Kong Securities Limited, Tiger Brokers (Nz) Limited, Futu, Inc.

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                                YORK                               nh                          04              DIV             INDEX     NO.   652617/2021
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NYSCEF   BOC.   NO.   111                                                                                   RECEIVED    NYSCEF           08/23/2023



          SUPREME COURT OF THE STATE OF NEW YORK
          COUNTY OF NEW YORK: COMMERCIAL DIVISION
                                                                              x
          SONNY ST. JOHN, Individually and on Behalf of
          All Others Similarly Situated,
                                   j        Plaintiff,                                 Index No. 652617/2021
                             Vv.

         CLOOPEN GROUP HOLDING LIMITED,                                                Part 53: Hon. Andrew Borrok
         CHANGXUN SUN, YIPENG LI, KUI ZHOU,
         QINGSHENG ZHENG, XIAODONG LIANG, ZI
                                                                                       [P2@ROSED] ORDER TO SHOW
         YANG, MING LIAO, FENG ZHU, LOK YAN HUI,                                       CAUSE
         JIANHONG ZHOU, CHING CHIU, COGENCY
         GLOBAL INC., COLLEEN A. DEVRIES,                                                         Seg. OOF
         GOLDMAN SACHS (ASIA) L.L.C., CITIGROUP
         GLOBAL MARKETS INC., CHINA
         INTERNATIONAL CAPITAL CORPORATION
         HONG KONG SECURITIES LIMITED, TIGER
         BROKERS (NZ) LIMITED, and FUTU, INC.,


                                            Defendants.
                                                                              x


                  WHEREAS,             on June 6, 2023,       the Court was       advised    that Plaintiff Sonny            St. John,

          Defendant Cloopen Group Holding Limited, and certain other Defendants (collectively, the

         “Parties”) had agreed in principle to dismiss the above-captioned action (the “Action”) with

         prejudice and settle all claims asserted therein against all Defendants (NYSCEF No. 104);

                  WHEREAS, upon reading the annexed Affirmation of Max R. Schwartz, dated August 16,

         2023 (“Schwartz Aff.”), which attaches the Parties’ executed Stipulation of Settlement dated as of

         August 16, 2023 (including the exhibits thereto), and upon all the pleadings and proceedings

         relevant to this Action; it is hereby:

                  ORDERED that all Parties show cause before this Court, at the Courthouse located at 60

         Centre Street, Part 53, Room 238, New York, NY on the gS                           day of         Ocfober       , 2023, at

         2 tm         or as soon thereafter as counsel can be heard, why an Order should not be issued:
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                                     Preliminarily approving the Stipulation of Settlement (the “Stipulation”), which is

                                     attached as Ex. 2 to the Schwartz Aff.;

                                     Entering the Parties’ [Proposed] Order Granting Plaintiffs’ Unopposed Motion for

                                     Preliminary Approval of Class Action Settlement; for Issuance of Notice to the

                                     Class; and for Scheduling of Fairness Hearing, which is attached as Ex. 1 to the

                                     Stipulation, and which in turn attaches (at Exs. A-1, A-2, and A-3, respectively)

                                     copies of the Parties’ (a) proposed form of individual Notice,' (b) proposed Proof

                                     of Claim        and Release form, and (c) proposed form of Summary                                       Notice for

                                     publication;

                                     Setting a date and time for the required Fairness Hearing, at which the Court will

                                     consider, among other things, (a) whether the Stipulation and proposed plan of

                                     allocation should be finally approved; (b) whether and in what amount to award

                                     attorneys’      fees     and   expenses        (and    whether         and      in     what     amount      to grant

                                     service/incentive         awards         to named     plaintiffs)      from       the Settlement Fund;             and

                                     (c) whether the Parties’ proposed form of Final Judgment (attached as Ex. B to the

                                     Stipulation) should be entered; and

                          4,         Granting such other and further relief as the Court deems proper;

                          ORDERED that, should conditions warrant, the Court may direct that any hearing on this

                motion may instead be held by video conference;

                          ORDERED             that   no     additional        submissions     are        necessary         because    this     motion    is

                unopposed; and




                1
                          Unless otherwise defined herein, all capitalized terms have the same meanings as given to
               them in the Stipulation.
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                      ORDERED that, pending the Court’s ruling on preliminary approval of the Stipulation, all

           other pending      litigation deadlines       in this matter (including all deadlines   for completion    of

           discovery and completion of briefing on any other pending motions) are stayed.

                      IT IS FURTHER ORDERED, that the electronic service by Plaintiffs’ Class Counsel of a

           copy of this Order to Show Cause and the papers upon which it is based be deemed sufficient if

           served by NYSCEF upon all Defendants’ counsel that have appeared herein on or before the 28

           day of      A ngust           , 2023.


           Dated:        Aust      23      , 2023
                                                                 HON. ANDREW BORROK

                                                                 SUPREME COURT OF THE STATE OF NEW YORK,
                                                                 NEW YORK COUNTY, COMMERCIAL DIVISION