Fasano v. Li
Joe Fasano; Altimeo Optimum Fund; and Altimeo Asset Management, Individually and on Behalf of All Others Similarly Situated v. Guoqing Li; Peggy Yu Yu; Dangdang Holding Company, Ltd.; E-Commerce China Dangdang Inc.; Kewen Holding Co. Ltd.; Science & Culture Ltd.; First Profit Management, Ltd.; Danqian Yao; Lijun Chen; Min Kan; Ruby Rong Lu; Ke Zhang; and Xiaolong Li
- Katherine Failla
- 1:16-cv-08759
- U.S. District Court · Southern District of New York
- 2
Counsel of record per CourtListener. Firm names are approximate and have been consolidated across spelling variants.
In Joe Fasano v. Guoqing Li, Judge Failla granted the parties’ summary-judgment motion and confirmed the final arbitration award approving their class settlement.
The named plaintiffs, the defendants, and the class covered by the approved settlement are affected by confirmation of the Final Approval Award and the closure of the case.
What happened
In Joe Fasano v. Guoqing Li, the parties jointly asked the court to confirm a final arbitration award approving their class settlement.
The court treated the joint request like a summary-judgment motion, reviewed the record and arguments, and granted it. The court confirmed the final award.
Judge Katherine Polk Failla also said the parties may file an agreement dismissing all claims with prejudice. Until then, she directed the clerk to terminate pending motions, adjourn remaining dates, and close the case.
The detailed version
- Fasano v. Li · No. 1:16-cv-08759
- Katherine Failla
- Aug. 20, 2026
Background
On August 18, 2026, the parties jointly petitioned the court to confirm the Final Award Approving Class Settlement, identified in the opinion as the “Final Approval Award.”
Court’s Analysis
The court explained that proceedings to confirm an arbitration award must be treated like a motion for summary judgment, which is a procedure for deciding whether the record supports judgment without a trial. The court reviewed the record and the parties’ arguments and construed the joint submission as a joint motion for summary judgment.
Ruling
Judge Katherine Polk Failla granted the parties’ joint motion and confirmed the Final Approval Award. The court stated that, consistent with the parties’ anticipated final step, they may file a stipulated dismissal with prejudice dismissing all claims in the action. The court did not state that such a dismissal had already been filed or entered. In the meantime, the clerk was directed to terminate all pending motions, adjourn all remaining dates, and close the case.
Read the full 2-page opinion on CourtListener, the free public archive maintained by the Free Law Project.