Welcome to the CNinsure Litigation Settlement Website

This website has been established to provide general information related to the CNinsure Inc. ("CNinsure") Litigation and the resulting Settlement Fund. The capitalized terms used on this website, and not defined herein, shall have the same meanings ascribed to them in the Settlement Agreement dated March 19, 2014.

This is a federal securities fraud class action that is pending before Judge Vernon S. Broderick in the United States District Court for the Southern District of New York.  The individuals representing the Class are the "Lead Plaintiffs," and the company they sued and who has now settled, CNinsure, is called the Defendant. Lead Plaintiffs also sued three individuals (Yinan Hu, Qiuping Lai and Peng Ge), but have been unable to make them parties to the lawsuit by serving them with process. They are referred to as the Unserved Defendants.

The Complaint in this Action alleges, among other things, that Defendant, CNinsure, actively misrepresented and concealed from investors that a material portion of CNinsure's rapid growth and financial success was attributable to the Company's alleged payment of equitable incentive compensation. The Complaint asserts that these allegedly false and misleading statements and omissions artificially inflated the price of CNinsure ADSs.  The Complaint further alleges that Class Members purchased CNinsure ADSs during the Class Period at prices artificially inflated as a result of the Defendant's dissemination of materially false and misleading statements.

CNinsure denies any liability to the Class. It denies any wrongdoing whatsoever and its agreement to settle this Action shall in no event be construed or deemed to be evidence of or an admission or concession on the part of Defendant with respect to any claim or of any fault or liability or wrongdoing or damage whatsoever, or any infirmity in the defenses that the Defendant has asserted.

The Court directed that everyone who fits this description is a Class Member:all Persons who purchased CNinsure American Depositary Shares ("ADSs") during the period from March 2, 2010 through and including November 21, 2011, except those persons and entities that are excluded, who were allegedly damaged thereby.  Excluded from the Class are the Defendant, the Unserved Defendants, the officers and directors of CNinsure during the Class Period, members of their immediate families, and their legal representatives, heirs, successors or assigns, and any entity in which the Defendant or an Unserved Defendant has or had a controlling interest. Also excluded from the Class are those Persons who timely and validly exclude themselves by filing a request for exclusion in accordance with the requirements set forth in the Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees, and Settlement Fairness Hearing (the "Notice").

A Settlement Fund consisting of $6,625,000.00 in cash, plus any accrued interest, has been established.   The Settlement Fund, less all taxes, approved costs, fees, and expenses (the "Net Settlement Fund") shall be distributed to Class Members who submit timely and valid Proof of Claim and Release forms to the Claims Administrator.

Class Members are represented by Robbins Geller Rudman & Dowd LLP, Lead Counsel appointed by the Court for this litigation.

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice or the Settlement Agreement both of which can be found on the Case Documents tab and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.

Your Legal Rights and Options in this Settlement 

 Important Deadlines