The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of SkyPeople Fruit Juice, Inc. -- SPU
NEW YORK, Oct. 11, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of SkyPeople Fruit Juice, Inc. (SPU):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS OR ENTITIES WHO PURCHASED THE PUBLICLY-TRADED COMMON STOCK OF SKYPEOPLE FRUIT JUICE, INC. ("SKYPEOPLE") FROM MARCH 31, 2010 THROUGH AND INCLUDING JUNE 1, 2011, INCLUSIVE, AND WHO BOUGHT SHARES IN, OR PURSUANT AND/OR TRACEABLE TO THE REGISTRATION STATEMENT OF SKYPEOPLE DECLARED EFFECTIVE ON AUGUST 24, 2010.
YOU ARE HEREBY NOTIFIED that this class action is pending in the above-captioned action (the "Litigation") and that a settlement of it for $2,200,000 has been proposed. A hearing will be held on January 17, 2014 at 2:00 p.m. in Courtroom 12C before the Honorable P. Kevin Castel, United States District Judge of the Southern District of New York, 500 Pearl Street, New York, NY 10007 (the "Settlement Hearing") for the purpose of determining: (1) whether the proposed settlement should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan for distribution of the settlement proceeds is fair, reasonable and adequate; and (3) whether the application for an award of attorneys' fees of up to 33 1/3% of the settlement amount, reimbursement of expenses of not more than $130,000, and an award to Lead Plaintiff and Named Plaintiffs of not more than a total of $9,500, should be approved.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you think you may be a member of the Class but have not received the full printed Notice of Pendency and Proposed Settlement of Class Action and the Proof of Claim and Release form you may obtain copies of these documents by contacting:
|SkyPeople Fruit Juice, Inc. Litigation|
|c/o Strategic Claims Services|
|P.O. Box 230|
|600 N. Jackson Street, Suite 3|
|Media, PA 19063|
|Tel: (866) 274-4004|
or by printing them at www.strategicclaims.net. The motion for payment of attorneys' fees and costs will be filed with the Court and posted at this website by December 13, 2013.
For any questions or inquiries, other than requests for copies of the Notice and Proof of Claim and Release, please contact Counsel for the Class:
|Laurence M. Rosen, Esq.|
|The Rosen Law Firm, P.A.|
|275 Madison Avenue, 34th Floor|
|New York, NY 10016|
To participate in this settlement, you must submit a Proof of Claim and Release postmarked no later than December 17, 2013, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by the Order and Final Judgment rendered in the Litigation whether or not you file a claim. To exclude yourself from the Class, you must submit a Request for Exclusion in the manner detailed in the Notice, so that it is received no later than December 20, 2013.
Any objection to the Settlement, Plan of Allocation, or Lead Plaintiffs' counsel's request for an award of attorneys' fees and reimbursement of expenses and awards to the Lead Plaintiff and Named Plaintiffs must be received at the addresses indicated in the Notice by no later than December 27, 2013.
Further information may be obtained by directing your inquiry in writing to the Claims Administrator, Strategic Claims Services, at the address listed above or through the website.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
DATED: SEPTEMBER 18, 2013
BY ORDER OF THE COURT