Pomerantz LLP Announces Proposed Securities Class Action Settlement on Behalf of Purchasers of Jiayin Group, Inc. American Depository Shares - JFIN

NEW YORK, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that the Supreme Court of the State of New York County of New York: Commercial Division has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of Jiayin Group, Inc. American Depository Shares JFIN:

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED AMERICAN DEPOSITORY SHARES ("ADS") OF JIAYIN GROUP, INC. ("JIAYIN" OR THE "COMPANY") BETWEEN MAY 10, 2019 AND SEPTEMBER 2, 2020, INCLUSIVE, PURSUANT AND/OR TRACEABLE TO JIAYIN'S INITIAL PUBLIC OFFERING ("IPO") ISSUED IN CONNECTION WITH THE COMPANY'S MAY 10, 2019 IPO

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Supreme Court of the State of New York, County of New York, that a hearing will be held on December 2, 2022, at 11:30 a.m. before the Honorable Andrew Borrok, J.S.C., 60 Centre Street, Room 238, New York, New York 10007, for the purpose of determining: (1) whether the proposed Settlement¹ of the claims in the above-captioned Action for consideration including the sum of $2,000,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Class Counsel for an award of attorneys' fees of up to thirty three percent of the Settlement Amount ($660,000) plus interest, reimbursement of expenses of not more than $150,000, and a Compensatory Award to Plaintiff of no more than $5,000, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation.

If you purchased or otherwise acquired American Depository Shares ("ADSs") of Jiayin Group, Inc. ("Jiayin" or the "Company") between May 10, 2019 and September 2, 2020, inclusive, pursuant and/or traceable to Jiayin's initial public offering ("IPO") issued in connection with the Company's May 10, 2019 IPO, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Jiayin ADSs. If you have not received a detailed Notice Of Proposed Settlement Of Class Action ("Notice") and a copy of the Proof of Claim and Release Form, you may obtain copies by visiting www.strategicclaims.net/Jiayin/ or by contacting the Claims Administrator toll-free at (866) 274-4004 or at info@strategicclaims.net. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must fill out and submit a properly completed Proof of Claim by 11:59 p.m. on December 9, 2022 to the Claims Administrator at www.strategicclaims.net/Jiayin/, establishing that you are entitled to recovery. If you are unable to fill out and submit a Proof of Claim electronically, you may mail a Proof of Claim at your own expense to the address listed in the detailed Notice postmarked no later than December 9, 2022 to the Claims Administrator, or email it to info@strategicclaims.net, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is postmarked no later than November 11, 2022, in the manner and form explained in the Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.

Any objection to the Settlement, Plan of Allocation, or Class Counsel's request for an award of attorneys' fees and reimbursement of expenses and award to Plaintiff must be in the manner and form explained in the detailed Notice and postmarked no later than November 11, 2022, to each of the following:

If you have any questions about the Settlement, you may visit www.strategicclaims.net/Jiayin/ or write to Class Counsel at the above address. PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

Dated: August 15, 2022

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BY ORDER OF THE SUPREME COURT,
NEW YORK COUNTY

¹ Unless otherwise defined, all capitalized terms used herein have the same meanings as set forth in the Stipulation of Settlement, dated July 27, 2022 ("Stipulation").