In re Longtop Financial Technologies Limited Securities Litigation
www.longtopclassaction.com

Welcome to the In re Longtop Financial Technologies Limited Securities Litigation website

IMPORTANT UPDATE
On March 7, 2017, Lead Counsel filed a motion to distribute the proceeds from the Net Settlement Fund. Once the Court approves the motion and issues a signed order, the distribution will occur shortly thereafter.

This website provides important information concerning the class action lawsuit brought on behalf of all persons and entities who purchased or otherwise acquired Longtop Financial Technologies, Ltd. (“Longtop”) American Depositary Shares (“ADSs”) during the period from February 21, 2008 through May 17, 2011, inclusive, and were damaged thereby (the "class").

A proposed Settlement for $2.3 million in cash has been reached in the action between Lead Plaintiffs Danske Invest Management A/S and Pension Fund of Local No. One, I.A.T.S.E. and Defendant Derek Palaschuk. The proposed Settlement follows the November 2014 trial against Palaschuk, whereby a jury found Palaschuk liable for violating Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) between February 10, 2010 and May 17, 2011. As required under the Exchange Act, the jury apportioned responsibility of the total damage amount among defendants as follows: 50% to Wai Chau Lin, a/k/a Lian Weizhou, 49% to Longtop and 1% to Palaschuk. The proposed Settlement is subject to Court approval.

The Notice provides a summary of the action, describes who is included in the Class and the effect of participating in the class action, explains how to opt-back-into the Class if you previously requested exclusion from the Class in connection with the Notice of Pendency of Class Action dated July 29, 2014, and explains how to submit an objection to any aspect of the Settlement, the Plan of Allocation, or the applications for expenses. The Notice also explains how to submit a Claim Form in order to be potentially eligible to participate in the Settlement and receive a distribution from the Net Settlement Fund. Please Note: At the trial against Palaschuk, Lead Plaintiffs pursued claims based on Palaschuk’s alleged misrepresentations during the period February 10, 2010 through May 17, 2011 (the “Trial Class Period”) – a portion of the Certified-Class Period (i.e., February 21, 2008 through May 17, 2011, inclusive). Only Class Members who purchased or otherwise acquired Longtop ADSs during the Trial Class Period will be potentially eligible to receive a distribution from the Net Settlement Fund.

Please be sure to read the full Notice to fully understand your rights.