LEWIS J. LIMAN, District Judge.
On February 13, 2020, Plaintiff filed a class action lawsuit on behalf of purchasers of Luckin securities between November 13, 2019 and January 31, 2020, both dates inclusive. The Complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 ("1934 Act") and Rule 10b-5 promulgated thereunder.
As explained in the Court's February 14, 2020 Order, Section 78u-4(a)(3)(A) of the Private Securities Litigation Reform Act ("PSLRA"), 15 U.S.C. § 78u-4(a)(3)(A), requires that within twenty days of the filing of the complaint, Plaintiff shall "cause to be published, in a widely circulated national business-oriented publication or wire service, a notice advising members of the purported plaintiff class. . . of the pendency of the action, the claims asserted therein, and the purported class period." 15 U.S.C. § 78u-4(a)(3)(A)(i). The PSLRA also provides that "not later than 60 days after the date on which the notice is published, any member of the purported class may move the court to serve as lead plaintiff of the purported class." Id. In addition, the Act requires that not later than 90 days after the date on which notice is published, the Court shall consider any motion made by a purported class member in response to the notice, and shall appoint as lead plaintiff the member or members of the purported plaintiff class that the Court determines to be most capable of adequately representing the interests of class members. See id. § 78u-4(a)(3)(B)(i). In the event that more than one action on behalf of a class asserting substantially the same claim or claims has been filed, and any party has sought to consolidate those actions for pretrial purposes or for trial, the Court shall not appoint a lead plaintiff until after a decision on the motion to consolidate is rendered. See id. § 78u-4(a)(3)(B)(ii).
Plaintiff's counsel notified the Court that the required notice was published on February 13, 2020. (Dkt. No. 8.) Members of the purported class therefore have until
If an amended complaint or a related case is filed prior to appointment of a lead plaintiff, Plaintiff's counsel shall,
It is further ORDERED that the named plaintiffs shall promptly serve a copy of this Order on each of the defendants.
SO ORDERED.