HOUSTON, Feb. 27, 2017 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. and Levi & Korsinsky LLP announce that the United States District Court for the Southern District of Texas has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of KiOR, Inc. (OTC:KIORQ):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED KIOR, INC. SECURITIES FROM JUNE 24, 2011 THROUGH MARCH 17, 2014, 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 May 30, 2017, at 8:30 a.m. before the Honorable Lee H. Rosenthal, United States District Judge of the Southern District of Texas, 515 Rusk Street, Court Room 11-B, Houston, Texas 77002, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $4,500,000 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 of Lead Counsel for an award of attorneys’ fees of up to one-third of the Settlement Amount, reimbursement of expenses of not more than $200,000, and an incentive payment of no more than $15,000 in aggregate, or $7,500 each, to Lead Plaintiffs, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement dated February 14, 2017 (the “Settlement Stipulation”).
If you purchased Mard, Inc. f/k/a KiOR, Inc. (“KiOR”) securities during the period from June 24, 2011 and March 17, 2014, both dates inclusive (the “Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in KiOR securities. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to or calling KiOR, Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 3, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; 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 Form postmarked no later than April 3, 2017, to the Claims Administrator, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.
If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than May 9, 2017, in the manner and form explained in the Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.
Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Lead Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than May 9, 2017, by each of the following:
Clerk of the Court
United States District Court
Southern District of Texas
515 Rusk Street
Houston, Texas 77002
LEAD COUNSEL:
Laurence M. Rosen, Esq.
Phillip Kim, Esq.
THE ROSEN LAW FIRM, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Nicholas I. Porritt, Esq.
Adam M. Apton, Esq.
LEVI & KORSINSKY LLP
1101 30th Street NW, Suite 115
Washington, D.C. 20007
COUNSEL FOR DEFENDANTS:
Michael G. Bongiorno, Esq.
Peter J. Kolovos, Esq.
WILMER CUTLER PICKERING HALE AND DORR LLP
60 State Street
Boston, Massachusetts 02109
Scott Fletcher, Esq.
JONES DAY
717 Texas Street, Suite 330
Houston, TX 77002
If you have any questions about the Settlement, you may call or write to Lead Counsel:
Laurence M. Rosen, Esq.
Phillip Kim, Esq.
THE ROSEN LAW FIRM, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel.: (212) 686-1060
Nicholas I. Porritt, Esq.
Adam M. Apton, Esq.
LEVI & KORSINSKY LLP
1101 30th Street NW, Suite 115
Washington, D.C. 20007
Tel.: (202) 524-4290
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
| Dated: February 17, 2017 | ________________________________________ | |
| BY ORDER OF THE UNITED STATES | ||
| DISTRICT COURT FOR THE SOUTHERN | ||
| DISTRICT OF TEXAS |