Sea Limited $46M Securities Class Action Settlement

Sea Limited

If you purchased or acquired Sea Limited's publicly-traded American Depositary Shares (ADSs) between November 15, 2022, and August 14, 2023, you may qualify to submit a claim for a payment from a class action settlement.

Sea Limited has agreed to pay $46 million to settle a class action lawsuit alleging that the company made materially false and misleading statements regarding its Garena (digital entertainment) and Shopee (e-commerce) business segments. The lawsuit claims these statements violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

Who is eligible for a settlement payment?

Class members meet the following criteria:

You purchased or acquired Sea Limited's publicly-traded ADSs between November 15, 2022, and August 14, 2023, inclusive.

How much is the class action payout

Pro Rata Cash Payment: The average estimated recovery per ADS is approximately $1.03 before settlement fees and costs deductions. Payment amount will be determined by these factors:

Total number of valid claims submitted
Number of ADSs each claimant purchased or acquired
Purchase and sales dates relative to the corrective disclosures.

How to claim a Sea Limited settlement payment

To receive a class action settlement payment you must submit a valid Proof of Claim form by the June 23, 2025 deadline. Class members can file a claim online or print the PDF claim form and mail it to the settlement administrator.

Settlement Administrator's mailing address: Sea Limited 2023 Securities Litigation, Claims Administrator, c/o JND Legal Administration, P.O. Box 91130, Seattle, WA 98111.

Is proof required?

Yes, claimants must provide supporting documentation showing qualifying transactions in Sea Limited ADSs. This includes brokerage statements, trade confirmations, or other official records clearly showing the dates, quantities, and prices of all qualified Sea Limited transactions.

Claim payout options

Approved claimants will receive a paper check mailed to the address provided on the claim form.

$46 Million Sea Limited settlement fund breakdown

The settlement fund of $46,000,000 will include:

Settlement notice and administration costs: $850,000
Attorneys' fees: Up to $11,500,000
Attorneys' expenses: Up to $200,000
Service award to the class representative: Up to $20,000
Payments to class members with approved claims: Remaining settlement balance

Important dates

Fairness Hearing: July 1, 2025
Deadline to File a Claim: June 23, 2025

When is the Sea Limited 2023 Securities Litigation payout date?

A fairness hearing will take place on July 1, 2025, to determine whether the settlement is fair, reasonable, and adequate. Payments will be issued to approved claimants after the judge grants final approval to the settlement.

Why did this class action lawsuit happen and why was it settled?

The lawsuit was filed because plaintiffs claimed that Sea Limited made false and misleading statements about its Garena and Shopee business segments, violating federal securities laws. Sea Limited any wrongdoing, but agreed to settle the class action to avoid the costs, and delays associated with continued litigation.