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August 19, 2014
16:06 EDTCISGCNinsure announces final court approval of settlement of class action lawsuit
CNinsure announced that the United States District Court for the Southern District of New York has granted final approval of the agreement to settle a consolidated class action lawsuit against the Company and entered final judgment dismissing the case on August 15. The approved settlement resolves all the claims asserted on behalf of purchasers of its American depository shares between March 2, 2010 and November 21, 2011 in exchange for a payment of $6.63M by the company, which will be covered by insurance proceeds. The settlement agreement contains no admission of liability, fault or wrongdoing by the company. The company denies any and all of the allegations made against it by the class in the litigation and has agreed to settle this matter solely to eliminate the uncertainties, risks, costs and burdens of further protracted proceedings.
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August 19, 2015
16:05 EDTCISGCNinsure sees Q3 revenue up 30%, consensus $129.53M
Sees Q3 revenue to grow roughly 30% versus 3Q14. "Looking forward to the second half of 2015, we will focus our efforts on three programs, which we call our, 'Full Coverage of Sales Network ', 'Accelerated Growth of Sales Force' and 'Platform Opening-up' programs... As we execute these three major programs, we expect our top line growth to accelerate in 2H and we believe we are on track to achieve 30% annual top line growth and RMB10B in insurance premiums in FY15. Our goal is to grow our total insurance premiums at a CAGR of 30% in the next three years, which would double total insurance premiums over that time. Finally, we expect continued success in the development of our online initiatives [through] our organic efforts and strategic investments," commented CNinsure.
16:02 EDTCISGCNinsure reports Q2 EPS 21c, consensus 24c
Reports Q2 revenue $108.4M, consensus $123.74M.

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