LOS ANGELES, Nov. 18, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court Central District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of Deer Consumer Products, Inc. (OTCMKTS:DEER):
SUMMARY NOTICE OF PENDENCY AND SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS WHO PURCHASED DEER CONSUMER PRODUCTS, INC. (“DEER”) COMMON STOCK DURING THE PERIOD FROM MARCH 31, 2009 THROUGH AUGUST 10, 2012, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Central District of California, that a hearing will be held on March 11, 2016 before the Honorable Dolly M. Gee, United States District Judge for the Central District of California, Courtroom 7, 312 North Spring Street, Los Angeles, CA 90012-4701 (the “Settlement Hearing”) for the purpose of determining: (1) whether the proposed Settlement consisting of the sum of $1,425,000.00 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the settlement proceeds is fair, reasonable, and adequate; (3) whether the application for an award of attorneys’ fees of $475,000.00, or one-third of the Settlement Fund, and reimbursement of expenses of not more than $100,000.00 and an incentive payment of no more than $30,000.00 to Lead Plaintiffs, should be approved; and (4) whether the Litigation should be dismissed with prejudice.
If you purchased Deer common stock during the class period from March 31, 2009 through August 10, 2012, 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 and a copy of the Proof of Claim and Release, you may obtain copies by writing to: Deer Consumer Products, Inc. Litigation (Auditor), 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); info@strategicclaims.net, or going to the website, 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 to the Claims Administrator postmarked no later than January 18, 2016, 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 wish to be excluded from the Settlement Class, you must submit a request for exclusion postmarked no later than February 26, 2016, 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 in the manner and form explained in the detailed Notice and postmarked no later than February 26, 2016, to each of the following:
COUNSEL FOR LEAD PLAINTIFFS AND THE CLASS:
Laurence M. Rosen
THE ROSEN LAW FIRM, P.A.
355 South Grand Avenue, Suite 2450
Los Angeles, CA 90071
Telephone: (213) 785-2610
Fax: (213) 226-4684
COUNSEL FOR DEFENDANTS:
John W. Sheller
Renee C. Ohlendorf
HINSHAW & CULBERTSON LLP
11601 Wilshire Blvd.
Suite 800
Los Angeles, CA 90025
If you have any questions about the Settlement, you may call or write to the Claims Administrator or Lead Plaintiffs’ Counsel:
Deer Consumer Products, Inc. Litigation (Auditor)
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson St., Ste. 3
Media, PA 19063
Telephone: (866) 274-4004
Fax: (610) 565-7985
info@strategicclaims.net
Laurence M. Rosen
THE ROSEN LAW FIRM, P.A.
355 South Grand Avenue, Suite 2450
Los Angeles, CA 90071
Telephone: (213) 785-2610
Fax: (213) 226-4684
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
DATED: NOVEMBER 3, 2015
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
CENTRAL DISTRICT OF CALIFORNIA