In December 2020, then-US president Donald J. Trump signed into law the Holding Foreign Companies Accountable Act (the "HFCAA"). This law is just one measure, among many, that have been.
Ruhnn Announces Completion of Going Private Transaction
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HANGZHOU, China, April 20, 2021 /PRNewswire/ Ruhnn Holding Limited ( ruhnn or the Company ) (NASDAQ: RUHN), a leading internet key opinion leader ( KOL ) facilitator in China, today announced the completion of its merger (the Merger ) with RUNION Mergersub Limited ( Merger Sub ), a wholly owned subsidiary of RUNION Holding Limited ( Parent ), pursuant to the previously announced agreement and plan of merger dated as of February 3, 2021 (the Merger Agreement ), by and among the Company, Parent and Merger Sub. As a result of the Merger, the Company ceased to be a publicly traded company and became a wholly owned subsidiary of Parent.
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Ruhnn Sets Record Date for Dissemination of Transaction Statement for Going Private Transaction
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HANGZHOU, China, March 10, 2021 /PRNewswire/ Ruhnn Holding Limited ( ruhnn or the Company ) (NASDAQ: RUHN), a leading internet key opinion leader ( KOL ) facilitator in China, today announced that it has set March 10, 2021 as the record date for the dissemination of Rule 13e-3 Transaction Statement on Schedule 13E-3 (as amended, the Schedule 13E-3 ) in connection with a previously announced going private transaction contemplated under an Agreement and Plan of Merger (the Merger Agreement ) the Company entered into with RUNION Holding Limited ( Parent ) and RUNION Mergersub Limited, a wholly owned subsidiary of Parent, on February 3, 2021.
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Securities Filings Remain Elevated Despite the Pandemic
Despite unprecedented disruptions to the court system from the COVID-19 pandemic, plaintiffs continued to bring securities class actions at elevated levels in 2020 a sign that filings will remain high in the year ahead. Based on data from Cornerstone Research through September 30, 2020, plaintiffs were on pace to file approximately 375 federal and state securities class actions through the end of the year. Although lower than the more than 400 actions filed in each of the previous three years, this figure substantially exceeds the 261 cases brought, on average, between 2010 and 2019.