Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_07-cv-05182/USCOURTS-cand-3_07-cv-05182-66/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:78m(a) Securities Exchange Act

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United States District Court

For the Northern District of California

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IN THE UNITED STATES DISTRICT COURT

FOR THE NORTHERN DISTRICT OF CALIFORNIA

IN RE LDK SOLAR SECURITIES 

LITIGATION.

 /

This Document Relates to:

All Actions. /

No. C 07-05182 WHA

ORDER RE PROPOSED

MODIFICATIONS OF

INTRODUCTORY

PARAGRAPH TO

CLASS NOTICE

On February 16, 2010, preliminary approval of a proposed settlement was granted in this

securities fraud class action alleging inventory and accounting irregularities at defendant LDK

Solar Co., Ltd. The proposed form of notice was approved with the addition of a summary

paragraph to begin on the first page. Counsel was invited to propose edits to the paragraph to

improve its accuracy. After consideration of counsels’ proposed edits, this order adopts the

following paragraph to be inserted at the beginning of the notice to be bolded as follows:

SUMMARY OF PROPOSED SETTLEMENT

You are a class member whose rights will be extinguished by a proposed settlement and

your views as to its fairness are requested by the federal court. It would settle all

shareholder claims for American Depository Shares (“ADS”) of LDK Solar Co., Ltd., and

for put and call options on those shares, purchased from June 1, 2007, through October 7,

2007. The lead plaintiff claims the class should recover up to $293 million if the case is tried

but proposes to settle for $16 million due to problems of proof and collectibility. From this,

class counsel would seek up to $2.4 million in attorney’s fees, $3.1 million in expenses and

$250,000 in administrative costs, for a total deduction of $5.75 million, leaving $10.25

million to be divided among class members. The average check per investor would be in the

range of $500, although some checks would be less and some more. The release which is

part of the settlement would bar all future claims by class members of the type asserted but

Case 3:07-cv-05182-WHA Document 512 Filed 02/23/10 Page 1 of 2
United States District Court

For the Northern District of California

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would not bar a derivative action still pending in state court, described below. The Court

invites the views of all class members on the fairness of the proposed settlement. If you

wish, you may opt out of the settlement and bring your own suit, all as described below.

In all other respects, the February 17 order granting preliminary approval of settlement

remains in effect.

IT IS SO ORDERED.

Dated: February 23, 2010. WILLIAM ALSUP

UNITED STATES DISTRICT JUDGE

Case 3:07-cv-05182-WHA Document 512 Filed 02/23/10 Page 2 of 2