On April 19, 2021 a
Motion-Secondary
was filed
involving a dispute between
Sonny St. John
Individually And On Behalf Of All Others Similarly Situated,,
and
Changxun Sun,
China International Capital Corporation Hong Kong Securities Limited,
Ching Chiu,
Citigroup Global Markets, Inc.,
Cloopen Group Holding Limited,
Cogency Global Inc.,
Colleen A. Devries,
Feng Zhu,
Futu, Inc.,
Goldman Sachs,
Jianhong Zhou,
Kui Zhou,
Lok Yan Hui,
Ming Liao,
Qingsheng Zheng,
Tiger Brokers,
Xiaodong Liang,
Yipeng Li,
Zi Yang,
for Commercial Division
in the District Court of New York County.
Preview
FILED: NEW YORK COUNTY CLERK 01/16/2024 06:41 PM INDEX NO. 652617/2021
NYSCEF DOC. NO. 147 RECEIVED NYSCEF: 01/16/2024
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK: COMMERCIAL DIVISION
SONNY ST. JOHN, Individually and on Behalf of All
Others Similarly Situated, Index No. 652617/2021
Plaintiff, Part 53: Hon. Andrew Borrok
v. ORAL ARGUMENT REQUESTED
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, and FUTU, INC.,
Defendants.
SUPPLEMENTAL JOINT AFFIRMATION OF MAX R. SCHWARTZ AND MICHAEL
DELL’ANGELO IN FURTHER SUPPORT OF: (1) PLAINTIFF’S MOTION FOR
FINAL APPROVAL OF CLASS ACTION SETTLEMENT
AND PLAN OF ALLOCATION; (2) PLAINTIFFS’ COUNSEL’S APPLICATIONS FOR
ATTORNEYS’ FEES AND EXPENSES; AND
(3) PLAINTIFFS’ REQUESTS FOR SERVICE AWARDS
Max R. Schwartz and Michael Dell’Angelo (pending Notice of Motion to Admit Counsel
Pro Hac Vice, NYSCEF No. 114), attorneys duly admitted to practice law before this Court, hereby
affirm the following under the penalty of perjury, pursuant to CPLR 2106:
1. Unless otherwise indicated, we have personal knowledge of the matters set forth
herein based upon our extensive participation in the prosecution and settlement of the claims
asserted. If called upon by the Court, we could and would competently testify that the following
facts are true and correct.
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FILED: NEW YORK COUNTY CLERK 01/16/2024 06:41 PM INDEX NO. 652617/2021
NYSCEF DOC. NO. 147 RECEIVED NYSCEF: 01/16/2024
2. We submit this supplemental affirmation in further support of: (1) Plaintiffs’
Motion for Final Approval of Class Action Settlement and Plan of Allocation; (2) Plaintiffs’
Counsel’s Applications for Attorneys’ Fees and Expenses; and (3) Plaintiffs’ Requests for Service
Awards.
3. Paragraph 27 of the Court’s October 5, 2023 Preliminary Approval Order
(NYSCEF No. 112) directed Settlement Class Members wishing to object to the Settlement, Plan
of Allocation, and/or award of attorneys’ fees and expenses (including award to Plaintiffs), to file
their objections with the Court and serve copies of such objections on Plaintiffs’ Counsel and
Defense Counsel, Wilson Sonsini Goodrich & Rosati, P.C., by January 2, 2024. Plaintiffs’
Counsel has not been served with any objections and none appear on the Court’s electronic docket.
Defense Counsel also confirmed to Plaintiffs’ Counsel that it has not been served with any
objections.
4. The Notice provided to Settlement Class Members likewise directed that any
requests for exclusion from the Settlement (“opt-out requests”) must be mailed to the Claims
Administrator by December 26, 2023. The Claims Administrator has advised Plaintiffs’ Counsel
that it has received no requests for exclusion from Settlement Class Members. Nor have Plaintiffs’
Counsel or Defense Counsel received any opt-out requests.
5. Attached hereto as Exhibit A is the proposed Order and Final Judgment.
6. Attached hereto as Exhibit B is the proposed Order Approving Plan of Allocation.
7. Attached hereto as Exhibit C is the proposed Order Approving Attorneys’ Fees,
Litigation Expenses, and Service Awards.
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FILED: NEW YORK COUNTY CLERK 01/16/2024 06:41 PM INDEX NO. 652617/2021
NYSCEF DOC. NO. 147 RECEIVED NYSCEF: 01/16/2024
I certify under penalty of perjury that the foregoing is true and correct. Executed this 16th
day of January 2024, in New York, New York.
/s/Max R. Schwartz
Max R. Schwartz
I certify under penalty of perjury that the foregoing is true and correct. Executed this 16th
day of January 2024, in Philadelphia, PA.
/s/Michael Dell’Angelo
Michael Dell’Angelo
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FILED: NEW YORK COUNTY CLERK 01/16/2024 06:41 PM INDEX NO. 652617/2021
NYSCEF DOC. NO. 147 RECEIVED NYSCEF: 01/16/2024
PRINTING SPECIFICATIONS STATEMENT
Pursuant to 22 N.Y.C.R.R. §202.70(g), Rule 17, the undersigned counsel certifies that the
foregoing affirmation was prepared on a computer using Microsoft Word. A proportionally spaced
typeface was used as follows:
Name of Typeface: Times New Roman
Point Size: 12
Line Spacing: Double
The total number of words in the affirmation, inclusive of point headings and footnotes and
exclusive of the caption, signature block, and this Certification, is 336 words.
DATED: January 16, 2024 /s/Max R. Schwartz
Max R. Schwartz
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Preview
FILED: NEW YORK COUNTY CLERK 01/16/2024 06:41 PM INDEX NO. 652617/2021 NYSCEF DOC. NO. 147 RECEIVED NYSCEF: 01/16/2024 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK: COMMERCIAL DIVISION SONNY ST. JOHN, Individually and on Behalf of All Others Similarly Situated, Index No. 652617/2021 Plaintiff, Part 53: Hon. Andrew Borrok v. ORAL ARGUMENT REQUESTED 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, and FUTU, INC., Defendants. SUPPLEMENTAL JOINT AFFIRMATION OF MAX R. SCHWARTZ AND MICHAEL DELL’ANGELO IN FURTHER SUPPORT OF: (1) PLAINTIFF’S MOTION FOR FINAL APPROVAL OF CLASS ACTION SETTLEMENT AND PLAN OF ALLOCATION; (2) PLAINTIFFS’ COUNSEL’S APPLICATIONS FOR ATTORNEYS’ FEES AND EXPENSES; AND (3) PLAINTIFFS’ REQUESTS FOR SERVICE AWARDS Max R. Schwartz and Michael Dell’Angelo (pending Notice of Motion to Admit Counsel Pro Hac Vice, NYSCEF No. 114), attorneys duly admitted to practice law before this Court, hereby affirm the following under the penalty of perjury, pursuant to CPLR 2106: 1. Unless otherwise indicated, we have personal knowledge of the matters set forth herein based upon our extensive participation in the prosecution and settlement of the claims asserted. If called upon by the Court, we could and would competently testify that the following facts are true and correct. 1 1 of 4 FILED: NEW YORK COUNTY CLERK 01/16/2024 06:41 PM INDEX NO. 652617/2021 NYSCEF DOC. NO. 147 RECEIVED NYSCEF: 01/16/2024 2. We submit this supplemental affirmation in further support of: (1) Plaintiffs’ Motion for Final Approval of Class Action Settlement and Plan of Allocation; (2) Plaintiffs’ Counsel’s Applications for Attorneys’ Fees and Expenses; and (3) Plaintiffs’ Requests for Service Awards. 3. Paragraph 27 of the Court’s October 5, 2023 Preliminary Approval Order (NYSCEF No. 112) directed Settlement Class Members wishing to object to the Settlement, Plan of Allocation, and/or award of attorneys’ fees and expenses (including award to Plaintiffs), to file their objections with the Court and serve copies of such objections on Plaintiffs’ Counsel and Defense Counsel, Wilson Sonsini Goodrich & Rosati, P.C., by January 2, 2024. Plaintiffs’ Counsel has not been served with any objections and none appear on the Court’s electronic docket. Defense Counsel also confirmed to Plaintiffs’ Counsel that it has not been served with any objections. 4. The Notice provided to Settlement Class Members likewise directed that any requests for exclusion from the Settlement (“opt-out requests”) must be mailed to the Claims Administrator by December 26, 2023. The Claims Administrator has advised Plaintiffs’ Counsel that it has received no requests for exclusion from Settlement Class Members. Nor have Plaintiffs’ Counsel or Defense Counsel received any opt-out requests. 5. Attached hereto as Exhibit A is the proposed Order and Final Judgment. 6. Attached hereto as Exhibit B is the proposed Order Approving Plan of Allocation. 7. Attached hereto as Exhibit C is the proposed Order Approving Attorneys’ Fees, Litigation Expenses, and Service Awards. 2 2 of 4 FILED: NEW YORK COUNTY CLERK 01/16/2024 06:41 PM INDEX NO. 652617/2021 NYSCEF DOC. NO. 147 RECEIVED NYSCEF: 01/16/2024 I certify under penalty of perjury that the foregoing is true and correct. Executed this 16th day of January 2024, in New York, New York. /s/Max R. Schwartz Max R. Schwartz I certify under penalty of perjury that the foregoing is true and correct. Executed this 16th day of January 2024, in Philadelphia, PA. /s/Michael Dell’Angelo Michael Dell’Angelo 3 3 of 4 FILED: NEW YORK COUNTY CLERK 01/16/2024 06:41 PM INDEX NO. 652617/2021 NYSCEF DOC. NO. 147 RECEIVED NYSCEF: 01/16/2024 PRINTING SPECIFICATIONS STATEMENT Pursuant to 22 N.Y.C.R.R. §202.70(g), Rule 17, the undersigned counsel certifies that the foregoing affirmation was prepared on a computer using Microsoft Word. A proportionally spaced typeface was used as follows: Name of Typeface: Times New Roman Point Size: 12 Line Spacing: Double The total number of words in the affirmation, inclusive of point headings and footnotes and exclusive of the caption, signature block, and this Certification, is 336 words. DATED: January 16, 2024 /s/Max R. Schwartz Max R. Schwartz 4 4 of 4