REID COLLINS SECURES COURT-APPROVED SETTLEMENT FOR FANG HOLDINGS AND ITS SHAREHOLDERS
February 10, 2026 – New York, NY — Reid Collins & Tsai LLP has secured court approval for a 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 was approved by the Supreme Court of the State of New York late Friday, provides significant monetary and non-monetary benefits to Fang and its minority shareholders through a combination of substantial cash consideration, the transfer of valuable equity interests, and significant corporate governance reforms.
Last week’s judgment fully approves the October 2025 Stipulation of Settlement, under which defendants agreed to pay $30 million in cash—distributed directly to Fang’s minority shareholders—and to transfer 20,471,063 shares of CIH Holdings Limited to Fang. The court also approved corporate governance reforms negotiated as part of the settlement, which are designed to ensure enhanced oversight and accountability going forward.
“We are thrilled to have achieved this meaningful result for our client and are grateful to the Court for approving the Stipulation of Settlement in its entirety,” said Aaron Brown, lead Reid Collins partner on the matter. “This well-deserved victory delivers immediate financial recovery to shareholders, significant assets to the Company, and stronger corporate governance protections for its future.”
The settlement approval follows more than two years of intensive litigation.
The Reid Collins & Tsai team is comprised of attorneys William T. Reid IV, Aaron Brown, Michael Yoder, Yonah Jaffe, Seth Roye, and Nathaniel J. Palmer, along with paralegals Mina Myers and Frances Lau.
Read the full text of the Final Order and Judgment.
REID COLLINS WINS $112 MILLION UNANIMOUS JURY VERDICT FOR JW ALUMINUM IN FEDERAL TRIAL VICTORY
In a sweeping trial win, national trial firm Reid Collins & Tsai LLP (“Reid Collins”) secured a unanimous jury verdict in favor of JW Aluminum Company (“JWA”) in the U.S. District Court for the District of South Carolina. The jury awarded JWA over $112 million—before accounting for five years of pre-judgment interest—after finding that a group of insurers breached their obligations under an “all-risk” policy following a catastrophic incident at JWA’s Goose Creek manufacturing facility.
After a five-day jury trial and testimony from more than a dozen witnesses, the jury found that the insurers had wrongfully denied coverage for both the physical damage to JWA’s equipment and the resulting business interruption. The jury awarded the maximum possible recovery: approximately $32.3 million for repair and replacement costs and the full $80 million policy sub-limit for business-interruption losses.
“I could not be happier for our client — or prouder of my team,” said William T. Reid, IV, co-founder of Reid Collins. “This was a total team victory. Everyone contributed, and every contribution mattered. Our associates didn’t just sit at the table — they stood up, examined witnesses, argued motions, and helped navigate the charge conference. “The ethos of our firm demands that young lawyers get in the game from day one. This trial proved, once again, why that approach works.”
Background
JWA is one of the largest producers of flat-rolled aluminum in the United States. In 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. 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. However, in March of this year, Reid Collins won a unanimous reversal by the Fourth Circuit Court of Appeals that paved the way for JWA’s subsequent claim for over $100 million.
The Reid Collins team included William T. Reid, IV, Craig Boneau, Scott Saldaña, Dylan Jones, Julia Byrne, John Hammel Strauss, and Sam Hilliard.
The case is JW Aluminum Company, v. ACE American Insurance Company, Westport Insurance Corporation, AIG Specialty Insurance Company, & General Security Indemnity Company of Arizona, Case No. 2:21-CV-01034-BHH.
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
