Settlement Achieves Significant Recovery for Minority Stockholders Cashed-Out in Merger
NEW YORK, Aug. 26, 2026 /PRNewswire/ — Sadis & Goldberg LLP (“Sadis”) won a major victory by obtaining final approval and confirmation of a $21 million class action settlement for stockholders cashed out in a going-private merger of E-Commerce China Dangdang, Inc. (“Dangdang”). This settlement provides class members with a large cash recovery that is a significant percentage of the damages alleged. On August 20, 2026, the United States District Court for the Southern District of New York confirmed the Final Award Approving Class Settlement entered by an American Arbitration Association tribunal, resolving claims on behalf of former minority shareholders and holders of American Depositary Shares of E-Commerce China Dangdang Inc. (“Dangdang”) for $21,000,000.
Sadis achieved this outcome after nine years of hard-fought litigation that pushed this case deep into discovery and the eve of a class certification hearing. This case alleged that Dangdang’s controlling stockholder group breached its fiduciary duties and U.S. securities laws by forcibly cashing out Dangdang’s minority investors at an unfair price that was lower than an offer from a third-party bidder. Sadis obtained a favorable settlement after two successful appeals to the U.S. Court of Appeals for the Second Circuit, compelling arbitration, and winning several important motions before the Arbitration Tribunal. See Fasano v. Yu Yu, 921 F.3d 333 (2d Cir. 2019); Fasano v. Li, 47 F.4th 91 (2d Cir. 2022).
“We are excited to deliver this fantastic result for the class,” said Samuel J. Lieberman, a partner and Co-Head of Litigation at Sadis & Goldberg LLP. “This settlement delivers a much higher percentage of damages than usual for similar class actions, after years of hard-fought litigation.”
The Sadis & Goldberg LLP team was led by Samuel J. Lieberman, with Ben Hutman, Claiborne R. Hane, and Lily Cron playing important roles in achieving this result. If you have any questions about this case or any case involving securities fraud, shareholder rights, or similar disputes, please contact Samuel J. Lieberman at (212) 573-8164, or slieberman@sadis.com
About Sadis & Goldberg LLP’s Litigation Practice
Sadis & Goldberg LLP’s litigation practice focuses on representing investors, stockholders, investment advisers and investment funds in securities litigation, shareholders rights disputes, business divorce, and complex commercial litigation. We leverage our expertise in these areas to seek better outcomes for our clients in court and at trial. We offer flexible billing structures to meet the unique aspects of each case, including hourly, hybrid and contingency fees.
View original content:https://www.prnewswire.com/news-releases/sadis-wins-final-approval-of-21-million-settlement-for-dangdang-stockholders-302860892.html
SOURCE SADIS & GOLDBERG
