Julie Siegmund and Seth Lipner as Co-Successor Trustees of The Frederick Siegmund Linkwell Corp. Claims Living Trust dated July 31, 2018 v. Xuelian Bian et. al.
Linkwell Corp. Securities Litigation
Case No. 16-cv-62506-FAM (S.D. Fla.)

Welcome to the Linkwell Corp. Securities Litigation Website

The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Motion for an Award of Attorneys' Fees and  Expenses; and (III) Settlement Fairness Hearing ("Notice"). Because this website is just a summary, you should review the Notice for additional details.

 

Summary of the Action

 

The Notice relates to a proposed Settlement of claims in a pending securities class action lawsuit brought by an investor alleging, among other things, that Bian and Guan violated the federal securities law and Florida law by engaging in a fraudulent scheme to cause the forced sale of Linkwell common stock through an undisclosed go-private merger transaction between Linkwell and Leading World (the “Merger”) resulting in the cancellation of Linkwell minority shareholders’ common stock without due notice and for less than fair value; and that Sidley allegedly violated Florida law by aiding and abetting Bian and Guan in connection with a breach of their fiduciary duties. If approved by the Court, the Settlement will settle claims of all persons and entities who owned one or more shares of Linkwell common stock as of the close of business on September 19, 2014, who did not vote to approve the Merger, and whose shares were canceled as a result of the Merger (the “Class”).

 

Plaintiffs, Julie Siegmund and Seth Lipner as Co-Successor Trustees of The Frederick Siegmund Linkwell Corp. Claims Living Trust dated July 31, 2018 (“Proposed Class Representatives”), have reached a proposed settlement in the amount of $6,000,000 in cash on behalf of the proposed Settlement Class. The Settlement will resolve all claims against the Released Parties (as defined in the Notice) in this proposed class action. The Settlement, if approved by the Court, will: resolve all known and unknown claims of Class Members as against Defendants Xuelian Bian, Wei Guan, and Sidley Austin LLP (collectively, “Defendants”) relating to the sale and cancellation of their Linkwell Corporation (“Linkwell”) common stock, the subject matter of the Action, and any and all claims that were or could have been asserted therein; avoid the costs and risks of continuing the Action; provide a cash payment to Class Members who timely submit valid claims; and release Bian, Guan, and Sidley from liability.

 

The Settlement Class consists of:

 

All persons and entities who owned, either as a record or beneficial owner, one or more shares of Linkwell common stock as of the close of business on September 19, 2014, who did not vote to approve the Merger between Linkwell and Leading World Corporation, whose shares were canceled as a result of the Merger between Linkwell and Leading World Corporation, and were allegedly damaged thereby.

 

If you are a member of the Settlement Class, your legal rights will be affected whether you act or do not act. Please read the Notice to fully understand your rights and options.

 

If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked or submitted online on or before February 4, 2020. The Net Settlement Fund (the Settlement Fund less court-awarded attorneys’ fees and expenses, Notice and Administration Expenses, any required Taxes or Tax Estimates payments, and any other fees or expenses approved by the Court) will be distributed in accordance with a proposed plan of allocation (the “Plan of Allocation”) that will be approved by the Court and will determine how the Net Settlement Fund shall be allocated to Class Members. The Plan of Allocation is described on page 16 of the Notice.

 

Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, and only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.

 

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT

SUBMIT A PROOF OF CLAIM FORM POSTMARKED OR SUBMITTED ONLINE NO LATER THAN FEBRUARY 4, 2020

This is the only way to get a cash payment from the Settlement.

EXCLUDE YOURSELF FROM THE CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION RECEIVED BY NO LATER THAN OCTOBER 21, 2019

Get no payment. This is the only option that allows you to pursue a lawsuit against Defendants concerning the claims that were, or could have been, asserted in this case. It is also the only way for Class Members to remove themselves from the Class. If you are considering excluding yourself from the Class, please note that there is a risk that any new claims asserted against Defendants may no longer be timely and would be time-barred. You should talk to a lawyer before you request exclusion from the Class for the purpose of bringing a separate lawsuit. See page 12 of the Notice.

OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION RECEIVED BY NO LATER THAN OCTOBER 29, 2019

Write to the Court and explain why you do not like the Settlement, the proposed Plan of Allocation, and/or the request for attorneys’ fees and expenses. In order to object, you must remain a Class Member, may not exclude yourself, and you will be bound by the Court’s determinations.

GO TO THE HEARING ON NOVEMBER 19, 2019 AT 2 P.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 29, 2019

Ask to speak in Court about the fairness of the Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and expenses.

DO NOTHING.

You will not be eligible to receive a payment from the Settlement, you will give up your rights, your pro rata share of the Net Settlement Fund will be allocated among Authorized Claimants, and you will still be bound by the Settlement.

How do I obtain more information?

Detailed information about the Action and the Settlement is contained in the Notice. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-833-285-1327; or emailing info@linkwellcorpshareholderlitigationsettlement.com; or mailing a letter to:

Linkwell Corp. Securities Litigation
c/o JND Legal Administration
P.O. Box 91211
Seattle, WA 98111-9311
1-833-285-1327

 

Inquiries should NOT be directed to the Court or the Clerk of the Court.

For More Information

Visit this website often to get the most up-to-date information.

Mail

Linkwell Corp. Securities Litigation
c/o JND Legal Administration
P.O. Box 91211
Seattle, WA 98111-9311