Qihoo 360 Technology Co. Ltd. (QIHU) Shareholders - L&K, LLP Encourages you to File a Claim Against the Settlement Fund Before Deadline

Rhea-AI Summary

On June 4, 2024, Levi & Korsinsky announced a settlement in the class action lawsuit against Qihoo 360 Technology (NYSE:QIHU). The settlement fund totals $29,750,000 and is intended for individuals and entities who sold Qihoo securities between December 18, 2015, and July 15, 2016, or participated in Qihoo's merger on July 15, 2016. To claim a share of the settlement, eligible class members must file a claim by August 8, 2024. More details and the claim form are available on the Levi & Korsinsky website. Levi & Korsinsky did not litigate the case but is providing this information to ensure timely claims filing.

Positive

• Settlement fund of $29,750,000 established for eligible shareholders.
• Potential financial recovery for shareholders who sold securities or participated in the merger within the specified dates.
• Filing deadline provides a clear timeframe for eligible claimants.
• Levi & Korsinsky has a strong track record in securing settlements for shareholders.
• The firm is recognized as a top securities litigation firm by ISS Securities Class Action Services.

Negative

• The settlement amount might be perceived as insufficient for some shareholders.
• The class action lawsuit indicates potential past corporate governance or operational issues.
• Only shareholders within a specific timeframe are eligible, excluding others who may feel aggrieved.
• There could be a perceived delay in receiving settlement funds after filing claims.

NEW YORK, NY / ACCESSWIRE / June 4, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Qihoo 360 Technology Co. Ltd. (NYSE:QIHU). The settlement provides for a fund of $29,750,000 to benefit class members. For the purposes of the settlement, the class is defined as: persons and entities that sold Qihoo Securities during the period from December 18, 2015 through July 15, 2016, both dates inclusive, and/or tendered/cancelled/exchanged Qihoo Securities in Qihoo's Merger, which took place on or about July 15, 2016.

If you are a class member as defined above, you may be entitled to a pro-rata share of the settlement fund. In order to receive a share of the settlement, you must file a claim form by August 8, 2024.

For more details on the settlement, including a copy of the claim form, please visit: https://zlk.com/settlement-form/?redirect=aHR0cHM6Ly96bGsuY29tL3NldHRsZW1lbnQvcWlob28tMzYwLXRlY2hub2xvZ3ktY28tbHRkLXNldHRsZW1lbnQ=&spr=518&wire=1&ticker=QIHU

Levi & Korsinsky did not act as lead counsel or otherwise participate in litigating the above class action. We are providing this information as a courtesy to remind class members of the claims deadline so they can file their forms in a timely fashion.

Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/

SOURCE: Levi & Korsinsky, LLP

View the original press release on accesswire.com

FAQ

What is the settlement amount in the Qihoo 360 class action lawsuit?

The settlement amount is $29,750,000.

Who is eligible for the Qihoo 360 settlement fund?

Individuals and entities who sold Qihoo securities between December 18, 2015, and July 15, 2016, or participated in the merger on July 15, 2016.

What is the deadline to file a claim for the Qihoo 360 settlement?

The deadline to file a claim is August 8, 2024.

Where can I find the claim form for the Qihoo 360 settlement?

The claim form is available on the Levi & Korsinsky website.

Did Levi & Korsinsky litigate the Qihoo 360 class action lawsuit?

No, Levi & Korsinsky did not litigate the case but is informing shareholders about the settlement.