Orchid Pavilion Collective Action case ended

Absrtact: On the evening of September 5, LightInTheBox, a cross-border electric company, announced today that it had reached a settlement with the plaintiff on a class-action lawsuit against the listing. The amount of settlement (including attorneys ' fees) amounted to 1.55 million dollars and will be made by the Orchid Pavilion and its insurance company

On the evening of September 5, LightInTheBox, a cross-border electric power company, announced today that it had reached a settlement with the plaintiffs over a class-action lawsuit on the listing. The amount of settlement (including attorneys ' fees), totalling $1.55 million trillion, will be shared by the Orchid Pavilion and its insurers, which still need final approval from the US courts.

In response to this lawsuit, the pavilion has always been firmly believe that the other side of the allegation is unfounded, the company's listing in the prospectus and roadshow information disclosed in a true and accurate reflection of the company's business situation, and the company carefully to all investors disclosed to the company's business related to the various potential risks.

According to billion power network understand, Orchid Pavilion set in May 1, 2014 to the court formally rejected the motion. It said that, based on lengthy and expensive litigation procedures, the plaintiff and the company agreed to settle the dispute. As part of the settlement agreement, the plaintiff agreed to waive litigation against the Orchid Pavilion and all relevant individuals. The plaintiff shall not be sued again after the settlement has been finally approved by the United States court.

Orchid Pavilion points out that the plaintiff agreed to waive the lawsuit again to explain that its allegations are not factual basis. Ending protracted lawsuits can save companies money and focus on business development, which is the most advantageous choice for the company's customers, employees and shareholders.