JinkoSolar Securities Settlement

Frequently Asked Questions

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1. What is this lawsuit about?

On October 11, 2011, a securities class action complaint was filed in the United States District Court Southern District of New York by Marco Peters against Defendants JinkoSolar Holding Co., Ltd. alleging both violations of Sections 11, 12(a) (2), and 15 of the Securities Act of 1933 and violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated under Section 10(b).

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2. What is a class action?

A class action is a type of lawsuit in which one or several entities prosecute claims on behalf of all members of a group of similarly-situated persons and entities to obtain monetary or other relief for the benefit of the entire group. Class actions avoid the necessity of each member of a class having to file his, her, or its own separate lawsuit to obtain relief. Class actions are used to decide legal and factual issues that are common to all members of a class.

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3. Why did I receive a Notice?

This Notice was sent to you pursuant to an order of the Court because you, someone in your family, or an investment account for which you serve as a custodian may have purchased JKS ADS during the Class Period.

As a potential Class Member, you have a right to know about your options under the Court approved Settlement.

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4. Who is considered a Class Member?

All Persons and Entities who purchased or otherwise acquired JinkoSolar Holding Co., LTD. New York Stock Exchange-Traded ADSs (NYSE:JKS) between May 13, 2010 and September 20, 2011, either in or traceable to the May 13, 2010 initial public offering or the November 4, 2010 secondary offering, or on the open market during the Class Period, and were damaged thereby.

Excluded from the Class, and their immediate family members are the following:

  • Defendants
  • JKS, and its officers, directors, employees, affiliates, legal representatives, predecessors, successors and assigns, and any entity in which any of them have a controlling interest or are a parent.
  • Also excluded from the Class are any putative Class Members who exclude themselves by timely filing a request for exclusion in accordance with the requirements as set forth in the Notice.

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5. What will I receive from the Settlement?

Pursuant to the Settlement, the Defendants have agreed to pay $5,050,000 in cash (the “Gross Settlement Fund”). The Net Settlement Fund will be distributed to Class Members that have submitted a valid Claim Form as set forth in the proposed Plan of Allocation, or such other plan as the Court may approve.

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6. What are the Lead Counsel’s fees and costs?

The Court awarded attorneys’ fees of 30% of the Gross Settlement Fund, plus expenses not to exceed $90,000 which were incurred in connection with the litigation of the Action, plus interest thereon.

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7. What is the Legal Effect of the Settlement on My Rights?

If you are a member of the Class, the Settlement will affect you. On March 11, 2016, the Court approved the Settlement, dismissing the Action with prejudice and all Class Members fully released and discharged the Defendants from all claims for relief arising out of or based on Lead Plaintiffs’ allegations. When a Person “releases” claims, that means that Person cannot sue the Defendants for any of the claims covered in by the release.

If you are a Class Member and you submit a valid and timely Claim Form, you will receive a payment based upon the distribution formula described in the Notice.

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8. How do I participate in the Settlement?

Each Person wishing to participate in the distribution must have timely submitted a valid Claim Form establishing membership in the Class, postmarked on or before January 12, 2016, and all required documentation. Any Proof of Claim submitted after January 12, 2016 will be noted as a late claim, and if otherwise eligible, will be presented to the Court as such.

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9. How do I exclude myself from the Settlement?

The deadline for Exclusion has passed. To be excluded from the Settlement, you must have submitted a written request, postmarked on or before February 12, 2016.

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10. What happens if I decide to be excluded from the Settlement?

If you timely and validly requested exclusion from the Class, (a) you will be excluded from the Class, (b) you will not share in the proceeds of the Settlement described herein, (c) you will not be bound by any judgement entered in the case, and (d) you will not be precluded, by reason of your decision to request exclusion from the Class, from otherwise prosecuting an individual claim, if timely, against the Defendants based on the matters complained of the litigation.

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11. Can I object to the Settlement, Plan of Allocation and/or Fee and Expense Application?

The deadline to object to the Settlement, Plan of Allocation and/or Fee and Expense Application has passed. To object, you must have submitted a written objection that was delivered and file marked no later than February 12, 2016.

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13. What is the Class Period?

The Class Period is defined as May 13, 2010 through September 20, 2011.

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14. What are acceptable forms of supporting documentation to accompany the Claim Form?

Your Claim Form must be accompanied by adequate supporting documentation for the transactions reported therein, in the form of broker confirmation slips, broker account statements, an authorized statement from the broker containing the transactional information found in a broker confirmation slip, or such other documentation as deemed adequate by Lead Counsel.

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15. How do I update my contact information?

If your address changes from the address to which this Notice was directed, you must notify the Claims Administrator of your new address as soon as possible. Failure to keep the Claims Administrator informed of your address may result in the loss of any monetary award you might be eligible to receive. Include your old address, new address, new telephone number, and Claim Identification number. These last two items are required so that the Claims Administrator can verify that the address change is from an actual Class Member. Please send your contact information to the Claims Administrator at the address listed below:

JinkoSolar Securities Settlement
c/o Garden City Group, LLC
PO Box 10242
Dublin, OH 43017-5742

Or you may send the request via email to the Claims Administrator at info@jinkosolarsecuritiessettlement.com.

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16. Where can I get additional information about the Action?

For precise terms and conditions of the Settlement, you may review the Stipulation filed with the Court, as well as the other pleadings and records of this litigation, which may be inspected during business hours, at the office of the Clerk of the Court, United States District Court, Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, at www.jinkosolarsecuritiessettlement.com.

If you have questions about the settlement of the Action, you may contact Lead Counsel at:

Michael S. Bigin
Bernstein Liebhard LLP
10 East 40th Street
New York, NY 10016

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