The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of Growlife, Inc. -- PHOT
LOS ANGELES, May 7, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court Central District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of Growlife, Inc. (OTCMKTS:PHOT):
SUMMARY NOTICE OF CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED THE COMMON STOCK OF GROWLIFE, INC. DURING THE PERIOD FROM NOVEMBER 14, 2013 THROUGH APRIL 9, 2014, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Central District of California, that a hearing will be held on August 3, 2015 at 10:00 a.m. in Courtroom 5 before the Honorable Christina A. Snyder, United States District Judge of the Central District of California, 312 North Spring Street, Los Angeles, CA 90012 (the "Settlement Hearing") for the purpose of determining: (1) whether the proposed Settlement consisting of the sum of $700,000 in cash and $2,000,000 in Growlife, Inc. common stock should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the settlement proceeds is fair and reasonable; (3) whether the application for an award of attorneys' fees of 25% of the Settlement Fund ($175,000 in cash and $500,000 in Growlife common stock) and reimbursement of expenses of not more than $30,000 and an incentive payment of no more than $1,500 to the lead plaintiff, should be approved; and (4) whether the Litigation should be dismissed with prejudice with respect to the Released Parties.
If you purchased common stock of Growlife, Inc., during the class period from November 14, 2013 through April 9, 2014, inclusive, your rights may be affected by the Settlement of this action. If you have not received a detailed Notice of Pendency and Settlement of Class Action and a copy of the Proof of Claim and Release, you may obtain copies by writing to Growlife, Inc. Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 3 Media, PA 19063 (Tel: 866-274-4004); (Fax: 610-565-7985); (email:firstname.lastname@example.org), or going to the website, www.strategicclaims.net. If you are a member of the Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release no later than July 11, 2015, establishing that you are entitled to recovery to the Claims Administrator. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Litigation whether or not you make a claim. If you desire to be excluded from the Class, you must submit a request for exclusion to the Claims Administrator, so that it is received no later than July 6, 2015, in the manner and form explained in the detailed Notice of Pendency and Settlement of Class Action.
Any objection to the Settlement, Plan of Allocation, or Plaintiffs' Counsel's request for an award of attorneys' fees and reimbursement of expenses must be in the manner and form explained in the detailed Notice of Pendency and Settlement of Class Action and received no later than July 14, 2015, to each of the following:
|Clerk of the Court||Laurence M. Rosen, Esq.||John R. Armstrong, Esq.|
|United States District Court||THE ROSEN LAW FIRM, P.A.||HORWITZ & ARMSTRONG LLP|
|Central District of California -Western Division||355 South Grand Avenue, Suite 2450||26475 Rancho Parkway South|
|312 North Spring Street||Los Angeles, California 90071||Lake Forest, California 92630|
|Los Angeles, CA 90012|
|Plaintiffs' Counsel||Counsel for Defendants Growlife,|
|Inc., Sterling C. Scott, John Genesi,|
|Marco Hegyi, Rob Hunt, Eric|
|Shevin, Alan Hammer, Anthony|
|Ciabattoni, and Jeff Giarraputo|
If you have any questions about the Settlement, you may call or write to Plaintiff's Counsel:
|Laurence M. Rosen, Esq.|
|THE ROSEN LAW FIRM, P.A.|
|355 South Grand Avenue, Suite 2450|
|Los Angeles, CA 90071|
|Tel.: (213) 785-2610|
|Fax: (213) 226-4684|
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
|DATED: April 27, 2015|
|BY ORDER OF THE UNITED STATES|
|DISTRICT COURT FOR THE|
|CENTRAL DISTRICT OF CALIFORNIA|