Not sure what you received but yes there is a settlement proposal from the lead plaintiffs of $2.0m, not sure if some of it or all of it will be covered by insurance but seems probable as for other companies that settle before. here is the text of the settlement amount:
Lead Plaintiff’s counsel believes that Settlement Agreement is a substantially beneficial result
for the class members. Pursuant to the Settlement Agreement, a total of $2 million will constitute the
settlement fund. From this amount will be paid notice and claims administration costs, any authorized
attorneys’ fees and litigation expenses, taxes, and any other fees and expenses authorized by the Court.
Assuming that the Court authorizes attorneys’ fees of 25% of the total settlement amount, and
considering that $100,000 is to be set aside for providing notice to class members and administration of
their claims, the net settlement amount might be $1.4 million. The Settlement Agreement guarantees
class members a recovery. In light of the inherent risks of class action securities litigation, and
considering the limited insurance funds available and the difficulty of enforcing a judgment in the
People’s Republic of China, the Court finds that this settlement amount is well within the range of
possible approval. See, e.g., Goldstein v. Tongxin International, Ltd., No. 11-CV-348 (C.D. Cal.) ($3
million settlement, entirely paid by insurers); Murdeshwar v. SearchMedia Holdings, Ltd., No. 11-CV-
20549 (S.D. Fla.) ($2.75 million settlement, all paid by insurers).