The Rosen Law Firm, P.A. Announces Proposed Partial Class Action Settlement on Behalf of Purchasers of Common Stock of Montage Technology Group Limited -- MONT
SAN FRANCISCO, Sept. 20, 2017 /PRNewswire/ -- The Rosen Law Firm, P.A. announces that the United States District Court for the Northern District of California has approved the following announcement of a summary notice of pendency and proposed partial settlement class action that would benefit purchasers of common stock of Montage Technology Group Limited (NASDAQ:MONT):
SUMMARY NOTICE OF PENDENCY AND PROPOSED PARTIAL SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS WHO PURCHASED THE COMMON STOCK OF MONTAGE TECHNOLOGY GROUP LIMITED ("MONTAGE") BETWEEN SEPTEMBER 25, 2013 TO FEBRUARY 6, 2014, INCLUSIVE, AND DID NOT SELL SUCH SECURITIES PRIOR TO FEBRUARY 6, 2014
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on December 15, 2017 at 2:00 p.m. before the Honorable Susan Illston, United States District Judge of the Northern District of California, 450 Golden Gate Avenue, Courtroom 1 - 17th Floor, San Francisco, CA 94102 (the "Settlement Hearing"): (1) to determine whether the Settlement, consisting of the sum of $7,250,000 (Seven Million Two Hundred Fifty Thousand Dollars) in cash should be approved by the Court as fair, reasonable, and adequate; (2) to finally determine whether the Order and Final Judgment as provided under the Stipulation and Agreement of Settlement (the "Stipulation") should be entered, dismissing the Complaint on the merits and with prejudice, and to determine whether the release by the Settlement Class of the Released Persons as set forth in the Stipulation, should be ordered, along with a permanent injunction barring efforts to bring any Released Claims extinguished by the Settlement against any Released Persons; (3) to finally determine whether the proposed Plan of Allocation for the distribution of the Net Settlement Fund is fair and reasonable and should be approved by the Court; (4) to consider the application of Class Counsel on behalf of themselves for an award of Attorneys' Fees in an amount not to exceed one-third (33 1/3%) of the Gross Settlement Fund and an award of expenses of not more than $700,000 (for a total of no more than $3,116,666.66), and for an Award to Class Representatives Martin Graham and Plaintiff Shaun Shen ("Class Representatives") of no more than $20,000 in total; (5) to consider Settlement Class Members' objections, if any, to the Settlement, whether submitted previously in writing or presented orally at the Settlement Hearing by Settlement Class Members (or by counsel on their behalf); and (6) to rule upon such other matters as the Court may deem appropriate.
If you purchased Montage common stock between September 25, 2013 and Februrary 6, 2014, inclusive, and did not sell such securities prior to February 6, 2014, your rights may be affected by the Settlement of this Action.If you have not received a copy of the Notice of Pendency and Proposed Settlement of Class Action and a copy of the Proof of Claim and Release, you may obtain copies by writing to Montage Technology Group Limited Securities Litigation, c/o Strategic Claims Services, Claims Administrator, P.O. Box 230, 600 North Jackson Street - Suite 3, Media, PA 19063; by calling the Claims Administrator at 1-866-274-4004; or by visiting the Claims Administrator's website at www.strategicclaims.net.If you are a member of the Settlement 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 November 20, 2017, establishing that you are entitled to recovery to the Claims Administrator.Unless you submit a written Request for Exclusion, you will be bound by any judgment rendered in the Action whether or not you submit a Proof of Claim and Release.If you desire to be excluded from the Class, you must submit a Request for Exclusion to the Claims Administrator, received no later than November 27, 2017, in the manner and form explained in the detailed Notice of Pendency and Proposed Settlement of Class Action.
Any objection to the Settlement, Plan of Allocation, Class Counsel's request for an award of Attorneys' Fees and Expenses, or request for an Award to Class Representatives must be in the manner and form explained in the detailed Notice of Pendency and Proposed Settlement of Class Action and received no later than November 27, 2017, to each of the following:
|
The Court
Clerk of the Court United States District Court Northern District of California 450 Golden Gate Avenue San Francisco, CA 94102 |
Class Counsel
The Rosen Law Firm, P.A. Laurence M. Rosen, Esq. 355 South Grand Avenue, Suite 2450 Los Angeles, CA 90071 |
Defense Counsel
O'Melveny & Myers LLP Seth Aronson, Esq. 400 South Hope Street, 18th Floor Los Angeles, CA 90071 |
If you have any questions about the Settlement, you may call or write to Class Counsel:
The Rosen Law Firm, P.A.
Laurence M. Rosen, Esq.
355 South Grand Avenue, Suite 2450
Los Angeles, CA 90071
Telephone: (213) 785-2610
Facsimile: (213) 226-4684
Email: info@rosenlegal.com
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
DATED: AUGUST 25, 2017
______________________________
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
NORTHERN DISTRICT OF CALIFORNIA
SOURCEThe Rosen Law Firm, P.A.
