The DiDi Global Inc. Class Action Lawsuit
The DiDi Global Inc. Class Action Lawsuit Article ID: 929841617621526 | Date: 10 May 2018 | Author: Andrew N. Maloney, Ph. | Keywords: Anti-Sec Crime | Description: At the time this article was published, the DiDi Global Inc. (“DiDi”) was embroiled in a global class action suit alleging that it and its subsidiaries had committed and colluded to commit a “Ponzi”-like scheme to loot millions of dollars in investor funds, and that the company itself had been responsible for the harm. DiDi was found liable through a $25 million settlement agreement and a consent judgment in November 2016 with $15. 5 million in awards to class members. In order to avoid a potential repeat of the same misconduct DiDi settled with the class for $3 million, but has now filed a flurry of appeals that argue that the settlement agreement, consent judgment, and the case’s underlying legal arguments were unreasonable and the case should have been barred by the doctrines of waiver and res judicata. This article reviews the class action settlement and consent judgment, analyzes the evidence submitted by the plaintiffs in support of the settlements, and explains why the settlements were unreasonable, and that they could not have been approved by a class of at least 50,000 claimants. Finally, this article addresses the issue of whether the settlement was the product of arm-twisting and coercion of class members, but concludes that not all class members were subject to such coercion.
Introduction This article reviews the class action settlement and consent judgment, analyzes the evidence submitted by the plaintiffs in support of the settlements, and explains why the settlements were unreasonable, and that they could not have been approved by a class of at least 50,000 claimants. The settlement agreement requires: “that plaintiffs in this action be paid, not less than twice than what they paid in the course of this action, each out of the recoveries and awards that the Court may make in this action.
Class Action cases. DiDi Global Inc.
Abstract Title: What Is a Class Action? What Do Classes Include? Some Background to the Case. The Lawsuit was a Class Action.
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Smith, Senior Consultant & Cyber-Security Consultant, Network Security, (202) 671-7201, or [email protected], or (800) 995-8882, [email protected], Website: www. robertlsmith. com | Blog: securitycitizen. com | Twitter: @rlbsecurity, www. com/rlbsecurity | Twitter: www.
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The answer, no.
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Spread the loveThe DiDi Global Inc. Class Action Lawsuit Article ID: 929841617621526 | Date: 10 May 2018 | Author: Andrew N. Maloney, Ph. | Keywords: Anti-Sec Crime | Description: At the time this article was published, the DiDi Global Inc. (“DiDi”) was embroiled in a global class action suit alleging that it and its subsidiaries…