QIHU.US
id: 1104
Qihoo 360 (QIHU) Buyout and China Relisting Settlement
S.D. New York
Court1:19-cv-10067
Case number12/18/2015
Class period Start07/15/2016
Class period End08/08/2024
Claim deadlineQihoo 360 (QIHU) agreed to settle $29.75M with shareholders to end claims over buyout and relisting in China.
Case Details:
Qihoo was taken private for $9.4B by a group of buyers, including its top executives, in a deal finalized on July 15, 2016.
After the buyout, Qihoo split its businesses. On November 2, 2017, SJEC announced a backdoor listing with Qihoo's main businesses.
Qihoo's shares started trading on the Shanghai Stock Exchange in February, 2018, with a market capitalization of $62B by the end of the day.
Based on these events, Qihoo was accused of the following details:
- Qihoo had undisclosed plans to relist shares in China before closing the deal.
- Shareholders were allegedly not provided necessary details for an informed vote.
Qihoo 360 has now decided to end all the allegations related to the relisting and buyout and pay a $29.75M settlement to investors.
Case Status
Disbursement
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
-0.9
Plaintiffs
Altimeo Asset Management
Attorneys
Pomerantz LLP
Defendants
Hongyi Zhou, Eric X. Chen
Judge
Paul A. Engelmayer
Administrator
Angeion
Trades matching type
FIFO
Disbursement date
03/26/2025
+$29,750,000
Cash Settlement AmountFrequently Asked Questions
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