Case 1:21-cv-10610-JGK-RWL Document 134 Filed 06/06/23 Page 1 of 3 Wilson Sonsini Goodrich & Rosati Professional Corporation 1301 Avenue of the Americas 40th Floor New York, New York 10019-6022 O: 212.999.5800 F: 212.999.5899 June 6, 2023 VIA CM/ECF The Honorable John G. Koeltl United States District Judge Southern District of New York 500 Pearl Street New York, New York 10007 Re: Dong v. Cloopen Group Holding Limited et al., No. 1:21-cv-10610-JGK-RWL Dear Judge Koeltl: We are counsel for Lead Plaintiff and Defendants in the above-referenced action. We write to inform the Court that the parties have reached an agreement-in-principle to jointly settle this securities class action and the parallel state court action, Sonny St. John v. Cloopen Group Holding Limited et al., Index No. 652617/2021 (N.Y. Sup. Ct., N.Y. Cnty.) (the “State Action”). We also write to inform the Court that the parties plan to seek approval of the joint settlement from the court in the parallel State Action, without further burdening this Court. The parties therefore respectfully request that the Court adjourn all deadlines in this action while the parties work to finalize the settlement documentation. The parties hope to be in a position to finalize and file the preliminary settlement approval and notice documents in the State Action within forty-five (45) days. Unless otherwise directed, the parties will provide this Court with status reports regarding the progress of the settlement approval process in the State Action every sixty days (60) or sooner as relevant Orders are entered in the State Action. The parties are available at the Court’s convenience if the Court has any questions. Respectfully submitted, BERGER MONTAGUE PC WILSON SONSINI GOODRICH & ROSATI Professional Corporation s/ Michael Dell’Angelo s/ Sheryl Shapiro Bassin Michael Dell’Angelo Sheryl Shapiro Bassin Andrew D. Abramowitz 1301 Avenue of the Americas, 40th Floor 1818 Market Street, Suite 3500 New York, New York 10019 Philadelphia, Pennsylvania 19103 Telephone: (212) 999-5800 Telephone: (215) 875-3000 Facsimile: (866) 974-7329 Email: mdellangelo@bm.net Email: sbassin@wsgr.com Email: aabramowitz@bm.net Counsel for Lead Plaintiff Guozhang Wang and the Federal Class AUSTIN BEIJING BOSTON BOULDER BRUSSELS HONG KONG LONDON LOS ANGELES NEW YORK PALO ALTO SALT LAKE CITY SAN DIEGO SAN FRANCISCO SEATTLE SHANGHAI WASHINGTON, DC WILMINGTON, DE Case 1:21-cv-10610-JGK-RWL Document 134 Filed 06/06/23 Page 2 of 3 The Honorable John G. Koeltl June 6, 2023 Page 2 of 3 KIRBY McINERNEY LLP Ignacio E. Salceda (admitted pro hac vice) 650 Page Mill Road s/ Thomas W. Elrod Palo Alto, California 94304 Thomas W. Elrod Telephone: (650) 493-9300 Ira M. Press Facsimile: (866) 974-7329 250 Park Avenue, Suite 820 Email: ISalceda@wsgr.com New York, New York 10177 Telephone: (212) 371-6600 Counsel for Defendants Cloopen Group Holding Email: telrod@kmllp.com Limited, Changxun Sun, Yipeng Li, Xiegang Email: ipress@kmllp.com Xiong, and Cheng Luo Counsel for Lead Plaintiff Guozhang Wang WILLKIE FARR & GALLAGHER LLP and the Federal Class s/ Charles D. Cording Todd G. Cosenza Charles D. Cording 787 Seventh Avenue New York, New York 10019 Telephone: (212) 728-8000 Facsimile: (212) 728-8111 Email: ccording@willkie.com Email: tcosenza@willkie.com Counsel for Defendants Goldman Sachs (Asia) L.L.C., Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Limited, Tiger Brokers (NZ) Limited, and Futu Inc. (n/k/a Moomoo Financial Inc.) K&L GATES LLP s/ Joanna A. Diakos Joanna A. Diakos 599 Lexington Avenue New York, New York 10022 Telephone: (212) 536-3900 Facsimile: (212) 536-3901 Email: joanna.diakoskordalis@klgates.com Counsel for Defendants Cogency Global Inc. and Colleen A. De Vries Case 1:21-cv-10610-JGK-RWL Document 134 Filed 06/06/23 Page 3 of 3 The Honorable John G. Koeltl June 6, 2023 Page 3 of 3 MORRISON & FOERSTER LLP s/ Haimavathi V. Marlier Timothy W. Blakely Edinburgh Tower, 33/F The Landmark, 15 Queen’s Road Central Hong Kong Telephone: +852 2585-0870 Facsimile: +852 2585-0800 Email: TBlakely@mofo.com Haimavathi V. Marlier 250 West 55th Street New York, New York 10019 Telephone: (212) 468-8000 Facsimile: (212) 468-7900 Email: HMarlier@mofo.com Counsel for Defendants Kui Zhou and Qingsheng Zheng cc: All Counsel of Record (via CM/ECF)