Sea Limited $40M Securities Class Action Settlement
Sea Limited
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Consumers who purchased or acquired Sea Limited American Depositary Shares (ADSs) its 0.25% convertible senior notes due 2026 (notes) in the company’s September 2021 public offerings may qualify to claim a settlement payment from a class action settlement.

Sea Limited agreed to pay $40,000,000 to settle a class action lawsuit alleging violations of federal securities laws. The lawsuit claims Sea and other defendants misrepresented or omitted material facts in the offering materials for its September 2021 offerings of ADSs and Notes.

Who can submit a claim for a securities payout?

Class members may file a claim if they purchased or otherwise acquired Sea Limited ADSs or 0.25% convertible senior notes due 2026 (CUSIP 81141RAG5) during the September 2021 public offering.

How much will the Sea Limited payout be?

The total settlement fund is $40,000,000. Payments depend on the number of valid claims submitted, the number of eligible ADSs and notes purchased or obtained and when those transactions took pace.

  • The settlement uses a pro rata distribution method. The average payment is estimated to be $4.24 per eligible ADS and $5.80 per eligible Note.

How to claim a securities class action

To receive a settlement payment, claimants can file a claim online or download and print the PDF claim form, complete it and mail it to the settlement administrator by Aug. 4, 2025.

Settlement Administrator's mailing address: Verita Global, Sea Offerings Settlement, c/o Verita Global, P.O. Box 301133, Los Angeles, CA 90030-1133

Required proof and documentation

  • Broker confirmation slips
  • Broker account statements showing the transactions and holdings on the relevant dates
  • Authorized statements from a broker containing the necessary transactional information
  • For ADSs: You must report the number of shares held on September 8, 2021, February 14, 2022, and February 28, 2025.
  • For notes: You must report the number of notes held on the same dates.

Payout options

  • Paper check mailed to the address provided
  • Electronic payment (online claim form only)

$40,000,000 Sea Limited securites settlement fund breakdown

The settlement fund of $40,000,000 includes:

  • Settlement administration costs: Up to $500,000
  • Attorneys’ fees: Up to $5,332,000
  • Attorneys’ expenses: Up to $200,000
  • Service awards to class representatives: Up to $10,000 in total
  • Payments to approved claimants: The remainder of the fund

Important dates

  • Deadline to request exclusion: July 7, 2025
  • Deadline to file a claim: Aug. 4, 2025
  • Fairness Hearing: Aug. 7, 2025

When is the Sea Limited Securities Litigation payout date?

Payments to eligible class members will be made after the court grants final approval of the settlement and any appeals have been resolved.

Why did this class action settlement happen?

The class action lawsuit claimed Sea Limited and other defendants violated federal securities laws by misrepresenting or omitting facts in the offering materials for its September 2021 public offerings. Specifically, the plaintiffs claimed the company did not disclose intraquarter user performance metrics for its digital entertainment business and the risk that India might ban its Free Fire mobile game.

Sea Limited denied all allegations but agreed to settle to avoid the expense, risk and uncertainty of further litigation.

Sources

  1. Settlement Notice
  2. Settlement FAQ Page
Settlement Open for Claims
Award:
Varies
Deadline:
August 4, 2025
SUBMIT CLAIM