October 13, 2020 - An amended complaint was filed.

April 9, 2020 - An investor, who sold shares of E-House (China) Enterprise Holdings Limited (NYSE: EJ), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by E-House (China) Enterprise Holdings Limited in connection with certain allegedly false and misleading statements made between April 15, 2016, until August 31, 2016. In June 2015, E-House (China) Enterprise Holdings Limited announced that it had received a buyout offer from its CEO and another Director. Shortly thereafter, SINA Corporation joined them in forming a “Buyer Group.”

On April 15, 2016, E-House (China) Enterprise Holdings Limited executed a merger agreement with the Buyer Group, where each ADS would be bought for $6.85 per ADS (the “Merger”). ADS holder approval, however, would still be required before the Merger could close. The Company published a preliminary proxy seeking ADS holder approval for the Merger on April 25, 2016.

The plaintiff said that in an attempt to persuade public ADS holders to accept the deal, the preliminary proxy contained numerous false and misleading statements and omissions.

More specifically, the plaintiff claims that the Merger was not fair and not in the best interest of those investors not affiliated with the Buyer Group, that there were plans for post-Merger transactions, and that the projections in the proxies were not based on the best available information. The merger was approved based on Defendants’ false information on August 5, 2016, and closed on August 12, 2016.