Bernstein Liebhard LLP and Zamansky LLC Announce the Proposed Securities Class Action Settlement of Peters v. JinkoSolar Holding Co. Ltd., et al.

NEW YORK, Oct. 22, 2015 /PR Newswire/ -- The following statement is being issued by Bernstein Liebhard LLP and Zamansky LLC regarding Peters v. JinkoSolar Holding Co. Ltd., et al.

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

MARCO PETERS, Individually and on Behalf of All Others Similarly Situated, Plaintiff,

vs.

JINKOSOLAR HOLDING CO., LTD., XIANDE LI, KANGPING CHEN, XIANHUA LI, WING KEONG SLEW, HAITAO JIN, ZIBIN LI, STEVEN MARKSCHEID, LONGGEN ZHANG, CREDIT SUISSE SECURITIES (USA) LLC, OPPENHEIMER & CO. INC., ROTH CAPITAL PARTNERS, LLC, WILLIAM BLAIR & CO., and COLLINS STEWART LLC, Defendants.    

No. 11 Civ. 7133 (JPO)

SUMMARY NOTICE

TO:  ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED JINKOSOLAR HOLDING CO., LTD. NEW YORK STOCK EXCHANGE-TRADED ADSs (NYSE:JKS) BETWEEN MAY 13, 2010 AND SEPTEMBER 20, 2011 (THE "CLASS PERIOD"), EITHER IN OR TRACEABLE TO THE MAY 13, 2010 INITIAL PUBLIC OFFERING OR THE NOVEMBER 4, 2010 SECONDARY OFFERING, OR ON THE OPEN MARKET DURING THE CLASS PERIOD, AND WERE DAMAGED THEREBY (THE "CLASS" OR "CLASS MEMBERS").

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York (the "Court"), that a hearing will be held at 10:00 a.m. on March 11, 2016 before the Honorable J. Paul Oetken, United States District Judge, in Courtroom 706, at the Thurgood Marshall United States Courthouse, 40 Foley Square, New York, New York, for the purpose of determining (1) whether the proposed settlement of the Action for the principal amount of $5,050,000 in cash should be approved by the Court as fair, reasonable, and adequate to Class Members; (2) whether the proposed Order and Final Judgment should be entered by the Court dismissing the Action with prejudice; (3) whether the proposed plan to distribute the settlement proceeds ("Plan of Allocation") is fair, reasonable, and adequate and, therefore, should be approved; and (4) whether the application of Lead Plaintiffs for attorneys' fees and costs incurred in connection with this Action and reimbursement of Plaintiffs' reasonable costs and expenses directly related to representation of the Class ("Fee and Expense Application") should be approved.  In connection with the Fee and Expense Application, Co-Lead Counsel will request attorneys' fees of 30% of the Gross Settlement Fund, plus expenses (exclusive of administration costs) not to exceed $90,000.

If you purchased JKS ADS between May 13, 2010 and September 20, 2011, your rights may be affected by the settlement of the Action.  If you have not received a detailed Notice of Pendency of Class Action and Proposed Settlement, Settlement Fairness Hearing, and Motion For an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice") and a copy of the Proof of Claim Form, you may obtain copies by writing to Claims Administrator at JinkoSolar Securities Settlement, c/o Garden City Group, LLC, PO Box 10242, Dublin, OH 43017-5742, or by calling 1-877-940-7794, or on the Internet at www.jinkosolarsecuritiessettlement.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Claim Form, postmarked on or before January 12, 2016 establishing that you are entitled to recovery.

If you desire to be excluded from the Class, you must submit a request for exclusion by no later than February 12, 2016, in the manner and form explained in the detailed Notice referred to above.  All Class Members who have not timely and validly requested exclusion from the Class will be bound by any judgment entered in the Action pursuant to the Stipulation of Settlement dated September 15, 2015.

Any objection to the Settlement must be filed with the Court and received by Counsel no later than February 12, 2016.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Co-Lead Counsel:

Michael S. Bigin
BERNSTEIN LIEBHARD LLP
10 East 40th Street
New York, New York 10016
(212) 779-1414
[email protected]       

Jacob H. Zamansky
Samuel E. Bonderoff
ZAMANSKY LLC
50 Broadway, 32nd Floor
New York, New York 10004
Telephone:  (212) 742-1414
Facsimile:  (212) 742-1177

DATED:  October 22, 2015                                        

BY ORDER OF THE COURT,
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SOURCE Bernstein Liebhard LLP and Zamansky LLC