Pomerantz Grossman Hufford Dahlstrom & Gross LLP and Wohl & Fruchter LLP Announces Proposed Class Action Settlement on Behalf...
18 Marzo 2014 - 1:00PM
Pomerantz Grossman Hufford Dahlstrom & Gross LLP and Wohl &
Fruchter LLP 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 Gerova Financial Group, Ltd. Securities
(OTCMKTS:GVFG, OTCMKTS:GVFGU, OTCMKTS:GVFGW):
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF
CLASS ACTION AND SETTLEMENT HEARING
TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE
ACQUIRED GEROVA FINANCIAL GROUP, LTD. ("GEROVA") SECURITIES (STOCK
SYMBOLS: CIO, CIO.WS, CIO.U, GFC, GFC.WS, GFC.U)
BETWEEN JANUARY 8, 2010 AND FEBRUARY 23, 2011, INCLUSIVE (THE
"SETTLEMENT CLASS PERIOD"), ON THE NEW YORK STOCK EXCHANGE (NYSE),
NYSE ALTERNEXT US EXCHANGE (LATER NAMED THE NYSE AMEX EXCHANGE), OR
BY OTHER MEANS INVOLVING TRANSACTIONS IN THE UNITED
STATES
Excluded from the Class are Settling
Defendants, Jason Galanis, Tore Nag, the officers and directors of
Gerova or of any subsidiary of Gerova, and members of any of their
immediate families and their legal representatives, heirs,
successors or assigns and any entity in which Defendants have or
had a controlling interest.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of
the Federal Rules of Civil Procedure and an Order of the United
States District Court for the Southern District of New York, that a
hearing will be held on June 9, 2014, at 4:30 p.m., at the
courthouse for the United States District Court, Southern District
of New York, Daniel Patrick Moynihan United States Courthouse, 500
Pearl St., New York, New York 10007-1312, for the purpose of
determining, among other things,: (1) whether the proposed
Settlement of the Class's claims against the Settling Defendants
for $1,372,000.00 should be approved as fair, reasonable and
adequate; (2) whether the Plan of Allocation is fair and
reasonable, and should be approved; (3) whether the application by
Co-Lead Counsel for an award of attorneys' fees and expenses should
be approved; (4) whether the Class Plaintiffs' application for
reimbursement of costs and expenses should be granted; and (5)
whether the Action should be dismissed with prejudice against the
Settling Defendants as set forth in the Global Settlement Agreement
and the Stipulation and Agreement of Settlement, dated February 4,
2014, filed with the Court.
If you purchased or otherwise acquired shares of Gerova
securities between January 8, 2010 and February 23, 2011, inclusive
(the "Settlement Class Period"), on the New York Stock Exchange
(NYSE), NYSE Alternext US exchange (later named the NYSE Amex
Exchange), or by other means involving transactions in the United
States, your rights may be affected by this Action and the
Settlement thereof. If you have not received the detailed Notice of
Proposed Settlement of Class Action, Motion For Attorneys' Fees and
Expenses, and Settlement Fairness Hearing (the "Notice") and Proof
of Claim and Release Form, you may obtain them free of charge by
contacting the Settlement Administrator, by mail at:
Gerova Financial Group, Ltd. Securities Litigation, c/o
Strategic Claims Services P.O. Box 230 600 N. Jackson Street, Suite
3 Media, PA 19063 Toll-free phone: 866-274-4004
www.strategicclaims.net
If you are a member of the Class and wish to share in the
Settlement money, you must submit a Proof of Claim postmarked no
later than May 20, 2014 establishing that you are entitled to
recovery. As further described in the Notice, you will be
bound by any judgment entered in the Action, regardless of whether
you submit a Proof of Claim, unless you exclude yourself from the
Class, in accordance with the procedures set forth in the Notice,
received no later than May 12, 2014. Any objections to the
Settlement, Plan of Allocation or attorney's fees and expenses must
be filed and served, in accordance with the procedures set forth in
the Notice, received no later than May 19, 2014.
Inquiries, other than requests for the Notice, may be made to
Co-Lead Counsel for the Class: Jeremy A. Lieberman, Pomerantz LLP,
600 Third Avenue, New York, NY 10016, Telephone: 212-661-1100
INQUIRIES SHOULD NOT BE DIRECTED TO THE
COURT, THE CLERK'S OFFICE, THE DEFENDANTS, OR DEFENDANTS'
COUNSEL
DATED: FEBRUARY 6, 2014
BY ORDER OF THE UNITED STATES DISTRICT
COURT FOR THE SOUTHERN DISTRICT OF NEW
YORK
Grafico Azioni Gerova Financial (CE) (USOTC:GVFG)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Gerova Financial (CE) (USOTC:GVFG)
Storico
Da Dic 2023 a Dic 2024