Axinn Obtains Global Settlement of Claims Against Code Rebel

Axinn obtained a settlement of securities law claims brought against the former directors and officers of Code Rebel Corporation, a Hawaii-based technology startup.

Following Code Rebel's 2016 bankruptcy, shareholders brought multiple class actions against Code Rebel and the company's former directors and officers in the Southern District of New York and in California state court, while the trustee of Code Rebel's estate also asserted claims against the former directors and officers. Acting on behalf of the majority of Code Rebel's former directors and officers, Axinn obtained a global settlement of all claims. The global settlement was approved by the Delaware Bankruptcy Court in June 2017 and by the Southern District of New York in April 2018.