Reid Collins Secures Settlement Delivering Potential Nine-Figure Relief for Fang Holdings and Its Shareholders
October 30, 2025 – New York, NY — Reid Collins & Tsai LLP has secured a Stipulation of Settlement resolving the Oasis Investments II Master Fund Ltd. v. Mo et al. shareholder derivative action on behalf of nominal defendant Fang Holdings Limited. The settlement, which is subject to court approval, provides potential nine-figure relief to Fang and its minority shareholders through a combination of substantial cash consideration, the transfer of valuable equity interests, and significant corporate governance reforms.
Under the Stipulation of Settlement, the defendants have agreed to make a $30 million cash payment to benefit Fang’s minority shareholders and to transfer 20,471,063 shares of CIH Holdings Limited to Fang. In addition to these significant financial benefits, the settlement provides meaningful corporate governance changes designed to ensure future oversight and accountability.
“We are very satisfied with the settlement terms,” said Aaron Brown, lead Reid Collins attorney on the matter. “This result not only delivers immediate financial recovery to shareholders but also provides significant assets to Fang and embeds stronger corporate controls for the future. It’s a clear win for the company and its investors.”
The settlement follows more than two years of intensive litigation, including a recent sanctions ruling by the New York Supreme Court striking defendants’ answers from the record.
“This is an extraordinary result for Fang and its shareholders,” said William T. Reid IV, Founding Partner of Reid Collins. “The combination of a $30 million cash payment, CIH Holdings shares, and structural governance reforms collectively provide nine-figure relief to the company—representing a transformative outcome that vindicates the rights of minority shareholders.”
The Stipulation of Settlement, executed on October 25, 2025, is pending final approval before Justice Andrew Borrok of the New York Supreme Court, Commercial Division.
The Reid Collins & Tsai team is comprised of attorneys William T. Reid IV, Aaron Brown, Michael Yoder, Yonah Jaffe, Seth Roye, Tarek Saad, and Nathaniel J. Palmer, along with paralegals Mina Myers and Frances Lau.
Read the full text Stipulation of Settlement
REID COLLINS OBTAINS FOURTH CIRCUIT REVERSAL ALLOWING CLAIM FOR OVER $100 MILLION TO PROCEED
On March 10, 2025, Reid Collins won a unanimous reversal by the Fourth Circuit Court of Appeals that will allow JW Aluminum Company’s (“JWA”) claim for over $100 million related to insurance coverage for losses resulting from a catastrophic accident at one of the company’s production facilities to move forward.
JWA is one of the largest producers of flat-rolled aluminum in the United States. On August 4, 2020, a small splash of molten aluminum from a production line at JWA’s Goose Creek, South Carolina plant kicked off a chain of events that nearly destroyed the facility. The molten metal landed on a beam supporting the facility’s roof and ignited highly flammable aluminum dust. The fire then spread to the roof, grew, and moved towards gas lines. To avoid a major explosion, JWA shut down gas and electric service, causing molten aluminum to harden inside the company’s equipment, rendering it inoperable. The facility also sustained water damage during hours of firefighting efforts that followed. Although no workers or first responders were injured, the incident caused tens of millions of dollars of property damage and hundreds of millions in lost profits.
JWA’s insurers argued that they were only required to pay for a small fraction of these losses under a policy endorsement that reduced coverage for “direct physical loss or harm caused by heat from Molten Material” from the policy limit of $250 million to just $10 million. The District Court for the District of South Carolina granted the insurers’ motion for summary judgment on the issue, finding that the endorsement unambiguously applied. The Fourth Circuit reversed, finding that the endorsement was ambiguous in several respects and instructing the District Court to interpret the policy “liberally in favor of the insured and strictly against the insurer[s]” on remand.
Congratulations to the Reid Collins team – Craig Boneau, Scott Saldana, Dylan Jones, Morgan Menchaca, and Julia DiFiore.
The Fourth Circuit case is captioned JW Aluminum Co. v. ACE American Insurance Co., et al., No. 24-1229 (4th Cir.). A copy of the decision can be downloaded by clicking here.
Press coverage:
- Click here to read “4th Circ. Reverses $10M Coverage Cap For Aluminum Co” at Law360.com
REID COLLINS OBTAINS ELEVENTH CIRCUIT REVERSAL AND KEY PRECEDENT IN CLOSELY WATCHED HELMS-BURTON ACT CASE
On January 2, 2025, a panel of the Eleventh Circuit Court of Appeals unanimously reversed a decision by the U.S. District Court for the Southern District of Florida that had dismissed claims brought by Reid Collins’ client North American Sugar Industries, Inc. (“NAS”) under the Helms-Burton Act.
Prior to the Communist Revolution, NAS owned and operated a port in Cuba that the Castro regime confiscated. Under the Helms-Burton Act’s private right of action, NAS is asserting trafficking claims against a Chinese wind-energy company and a group of shipping and logistics companies that engaged in a scheme to traffic in NAS’s confiscated port, including by shipping wind turbines through the Port of Miami en route to Cuba. Before Reid Collins took over the case on appeal, the District Court dismissed all claims for lack of personal jurisdiction based on its holding that the only relevant conduct occurred in Cuba. In a published and precedential opinion, the Eleventh Circuit rejected this narrow view of what constitutes trafficking under the Act and instead endorsed the broad interpretation that NAS advanced on appeal, including that unlawful trafficking can encompass activities outside of Cuba. In remanding the action for further proceedings, the Eleventh Circuit additionally found that the District Court misapplied the legal and factual standards that apply to a motion to dismiss for lack of personal jurisdiction.
Congratulations to the Reid Collins trial team – Craig Boneau, Ryan Goldstein, Scott Saldana, Rob LaCroix, and Aaron Brown.
The Eleventh Circuit case is captioned North American Sugar Industries, Inc. v. Xinjiang Goldwind Science & Technology Co., Ltd., et al., No. 23-10126 (11th Cir.).
A copy of the decision can be downloaded by clicking here.
