SouFun Holdings (SFUN) Says Securities Class Action Claims Were Dismissed
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Fang Holdings Limited (NYSE: SFUN) announced that the United States District Court for the Central District of California has dismissed with prejudice all claims asserted by the lead plaintiffs in a securities class action lawsuit against the Company and certain of its current and former officers commenced against them on October 30, 2015, by a shareholder purporting to represent a class consisting of purchasers of the Company's common stock between May 20, 2015 and October 27, 2015. On October 18, 2016, the Court granted the defendants' motion to dismiss the First Amended Complaint. The lead plaintiffs did not pursue a further amendment, and the Court dismissed the lead plaintiffs' claims with prejudice on November 4, 2016. No payment or any other consideration was paid by the Company or its officers in connection with the lawsuit's dismissal.
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