Opinion
20 Civ. 1293 (JPC)
07-18-2022
IN RE LUCKIN COFFEE INC. SECURITIES LITIGATION
ORDER
JOHN P. CRONAN, UNITED STATES DISTRICT JUDGE:
There are currently three open cases related to this case: Kingstown Capital Management, LP v. Luckin Coffee Inc., 20 Civ. 7029; Gopu v. Luckin Coffee Inc., 21 Civ. 484; Ye v. Luckin Coffee, Inc., 21 Civ. 2020. None of the plaintiffs in these cases have publicly objected to the proposed class settlement. At the same time, Luckin Coffee Inc. has said that, at least for some of the plaintiffs in these related cases, it “desire[s] to negotiate a resolution of th[e] matter.” Kingstown Capital Management, LP v. Luckin Coffee Inc., 20 Civ. 7029, Dkt. 54; Ye v. Luckin Coffee, Inc., 21 Civ. 2020, Dkt. 30. Under Federal Rule of Civil Procedure 23(e)(5)(B)(i), the Court must approve “after a hearing,” any “payment or other consideration . . . provided in connection with . . . forgoing or withdrawing an objection.” By July 20, 2022, the parties in this case shall file a joint letter detailing whether they have paid or provided any other consideration to any party, including the plaintiffs or their counsel in the related cases, to forgo or withdraw an objection.
SO ORDERED.