Labaton Sucharow LLP Announces Proposed Class Action Settlement on Behalf of Holders and Sellers of Changyou.com Limited American Depositary Shares

NEW YORK, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Labaton Sucharow LLP announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement on behalf of holders and sellers of Changyou.com Limited American Depositary Shares:

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND MOTION FOR ATTORNEYS’ FEES AND EXPENSES

To: (a) all holders of Changyou.com Limited ADSs on April 23, 2020 and/or (b) all persons and entities that sold (including by tendering) Changyou ADSs during the period from February 19, 2020 through April 23, 2020, inclusive (the “Class Period”), who were allegedly harmed by Defendants’ conduct (“Settlement Class”).

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that Court-appointed Lead Plaintiff, on behalf of itself and all members of the proposed Settlement Class, and defendants Changyou.com Limited (“Changyou” or the “Company”), Sohu.com Limited, Sohu.com (Game) Limited, Xiao Chen, and Joanna Lv (collectively, “Settling Defendants”), have reached a proposed settlement of the claims in the above-captioned class action (the “Action”) in the amount of $1,075,000 (the “Settlement”).

A hearing will be held remotely before the Honorable Gregory H. Woods on January 27, 2023, at 3:00 p.m. EDT, via an operator assisted conference call (the “Settlement Hearing”) to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated March 28, 2022; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the “Net Settlement Fund”) to Settlement Class Members; and (iv) approve Lead Counsel’s Fee and Expense Application. Settlement Class Members and the public may listen to the proceedings by calling (800) 225-9448. Settlement Class Members who wish to participate in the proceedings must also submit a Notice of Appearance in the manner described in the long-form Notice and at www.strategicclaims.net/Changyou  no later than January 6, 2023. The Court may change the date, time, or procedures for the Settlement Hearing without providing another notice. Any additional instructions for the conference call will be posted at www.strategicclaims.net/Changyou in advance of the hearing. You do NOT need to participate in the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A SETTLEMENT CLASS MEMBER, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Postcard Notice, long-form Notice and/or Claim Form, you may obtain copies of these documents by visiting www.strategicclaims.net/Changyou, or by contacting the Claims Administrator at:

In re Changyou.com Limited Securities Litigation
c/o Strategic Claims Services
600 N. Jackson St., Suite 205
P.O. Box 230
Media, PA 19063
(866) 274-4004
 info@strategicclaims.net
www.strategicclaims.net/Changyou 

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form to the Claims Administrator postmarked or submitted online no later than January 23, 2023. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the long-form Notice and at www.strategicclaims.net/Changyou so that it is received no later than January 6, 2023. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Lead Counsel’s Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the long-form Notice and at www.strategicclaims.net/Changyou, such that they are received no later than January 6, 2023.

PLEASE DO NOT CONTACT THE COURT, SETTLING DEFENDANTS, OR
DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.