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company

Sea Limited

Singapore-based tech conglomerate. Parent company of Shopee (e-commerce), Garena (gaming), and SeaMoney (fintech). Public company on NYSE. Has faced securities litigation and multiple layoff rounds.

Track Record

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Agreed to $46 million settlement over securities fraud allegations regarding Garena and Shopee disclosures

Jul 21, 2023
compelled $46.0M

Sea Limited faced a class action lawsuit alleging materially false and misleading statements regarding its Garena (gaming) and Shopee (e-commerce) business segments. The initial complaint was filed July 2023. A $46 million settlement was reached, with court hearing scheduled for July 1, 2025. The company also conducted multiple layoff rounds in 2022-2023, cutting 3% of Shopee Indonesia staff and withdrawing from Argentina, Chile, Colombia, Mexico, France, and India.

- Corporate Governance
Sources: Tech Wire Asia(opens in new tab)· Settlement Website(opens in new tab)