Pomerantz Grossman Hufford Dahlstrom & Gross LLP Announces Pendency and Proposed Settlement of Class Action Against Advanced Battery Technologies, Inc. and Settlement Hearing
Dec 19 13
Lead Counsel for Plaintiffs has announced, 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 in Advanced Battery Technologies, Inc. Securities Litigation, Consolidated Civil Action No. 11 Civ. 2279(CM) will be held on February 21, 2014, at 9:30 a.m., before the Honorable Colleen McMahon, United States District Judge, at the courthouse for the United States District Court, Southern District of New York, Courtroom 14C, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., New York, New York 10007, for the purpose of determining, among other things: whether the proposed Settlement of the settlement class's claims against the ABAT Defendants for $275,000.00 should be approved as fair, reasonable and adequate; whether the Plan of Allocation is fair and reasonable and should be approved; whether the application by lead counsel for an award reimbursing them for a portion of their expenses should be approved; whether the lead plaintiff should be granted a compensatory award; and whether the Litigation should be dismissed with prejudice against the ABAT defendants as in the settlement stipulation filed with the court. The proposed settlement class will consist of all persons and entities that purchased or otherwise acquired ABAT common stock between May 15, 2007, and March 29, 2011, inclusive. excluded from the settlement class are the ABAT defendants and auditor defendants, all current and former directors and officers of ABAT during the settlement class period, and any family member, trust, company, entity or affiliate controlled or owned by any of the excluded persons or entities referenced above.