The Rosen Law Firm, P.A. Announces Proposed Settlement of Uni-Pixel, Inc. Class Action for $4.5 million
The Rosen Law Firm, P.A., Glancy Binkow & Goldberg LLP, and Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of Uni-Pixel, Inc.
January 23, 2015 08:00 AM Eastern Standard Time
HOUSTON--(BUSINESS WIRE)--The Rosen Law Firm, P.A., Glancy Binkow & Goldberg LLP, and Pomerantz LLP announces that the United States District Court Southern District of Texas (Houston Division) has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of Uni-Pixel, Inc. (NASDAQ:UNXL):
SUMMARY NOTICE OF CLASS ACTION SETTLEMENT
ALL PERSONS WHO PURCHASED SHARES OF COMMON STOCK OF UNI-PIXEL, INC. DURING THE PERIOD FROM DECEMBER 7, 2012 THROUGH MAY 31, 2013, INCLUSIVE
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of Texas, that a hearing will be held on April 30, 2015 at 2:00 p.m. in a courtroom before the Honorable Sim Lake, United States District Judge for the Southern District of Texas, Houston Division, 515 Rusk Avenue, Houston, TX 77002, (the “Settlement Hearing”) for the purpose of determining: (1) whether the proposed Settlement consisting of the sum of $2,350,000 in cash and $2,150,000 in Uni-Pixel 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 up to $1,500,000 (in cash and stock in the same proportion as the overall settlement amount) and reimbursement of expenses of not more than $100,000 and an incentive payment of no more than $1,500 to each of the two lead plaintiffs should be approved; and (4) whether the Litigation should be dismissed with prejudice.
If you purchased common stock of Uni-Pixel, Inc., during the class period from December 7, 2012, through May 31, 2013, 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 (“Notice”) and a copy of the Proof of Claim and Release, you may obtain copies by writing to Uni-Pixel, Inc. Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 3, Media, PA 19063 (866-274-4004 (Tel) 610-565-7985 (Fax); firstname.lastname@example.org), or going to the website,www.strategicclaims.net. If you are a member of the Class, to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release postmarked no later than April 22, 2015, establishing that you are entitled to recovery. 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 postmarked no later than April 9, 2015, in the manner and form explained in the detailed Notice to the Claims Administrator.
Any objection to the Settlement, Plan of Allocation, or the Lead Plaintiffs’ Counsel's request for an award of attorneys’ fees and reimbursement of expenses must be made in person at the Settlement Hearing. In addition, a writing setting forth the objection in the manner and form explained in the detailed Notice must be provided to the Court and parties and be received no later than April 9, 2015, to each of them at the following addresses:
|Clerk of the Court||Laurence M. Rosen, Esq.||Paul R. Bessette, Esq.|
|United States District Court||THE ROSEN LAW FIRM, P.A.||KING & SPALDING LLP|
|Southern District of Texas||
275 Madison Avenue, 34th Floor
|401 Congress Avenue, Suite 3200|
|P.O. Box 61010||New York, NY 10016||Austin, TX 78701|
|Houston, TX 77208|
Co-Lead Counsel for Plaintiffs and the Class
Counsel for Defendants Uni- Pixel, Inc., Reed Killion & Jeffrey Tomz
If you have any questions about the Settlement, you may call or write to Co-Lead Plaintiffs’ Counsel:
Laurence M. Rosen, Esq. THE ROSEN LAW FIRM, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel.: 212-686-1060 Fax: 212-202-3827
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
DATED: JANUARY 7, 2015
BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF TEXAS
The Rosen Law Firm, P.A. Laurence M. Rosen, Esq. Tel.: 212-686-1060 Fax: 212-202-3827