MIAMI, Oct. 15, 2018 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court Southern District of Florida has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities of ERBA Diagnostics, Inc. (OTCMKTS:ERBA):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
| TO: | ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED SECURITIES OF ERBA DIAGNOSTICS, Inc. ON NYSE FROM June 14, 2013 and November 20, 2015, INCLUSIVE. |
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of Florida, that a hearing will be held on January 23, 2019, at 2:00 p.m. before the Honorable Marcia G. Cooke, United States District Judge of the Southern District of Florida, Wilkie D. Ferguson, Jr. United States Courthouse, 400 North Miami Avenue, Room 11-2, Miami, Florida 33128, for the purpose of determining: (1) whether the proposed settlement of the claims in the above-captioned Action for consideration including the sum of $1,215,000 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 Class Counsel for an award of attorneys’ fees of up to one third of the Settlement Amount, reimbursement of expenses of not more than $35,000 and an incentive payment of no more than $5,000 to Class Representative, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement dated June 28, 2018 (the “Settlement Stipulation”).
If you purchased the securities of ERBA Diagnostics, Inc. (“ERBA”) on NYSE during the period from June 14, 2013 and November 20, 2015, both dates inclusive (the “Settlement Class”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in ERBA 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 the Claims Administrator at: In re ERBA Diagnostics, Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, 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 December 10, 2018 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 a request for exclusion in the manner and form explained in the detailed Notice so that it is received no later than December 10, 2018, by the Claims Administrator. 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 Class Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Class Representative must be in the manner and form explained in the detailed Notice and received no later than January 9, 2019, by the following:
| The Rosen Law Firm, P.A. Laurence M. Rosen, Esq. 275 Madison Avenue, 34th Floor New York, NY 10016 Class Counsel | STEARNS WEAVER MILLER WEISSLER ALHADEFF & SITTERSON, P.A David C. Pollack, Esq. Andrea N. Nathan, Esq. Museum Tower Suite 2200 150 West Flagler Street Miami, FL 33130 Counsel for ERBA Defendants | MCDERMOTT WILL & EMERY LLP Seth L. Friedman, Esq. 340 Madison Avenue New York, NY 10173 Counsel for Mayer Hoffman McCann P.C. |
If you have any questions about the Settlement, you may call or write to the Claims Administrator or Class Counsel at the addresses provided above.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: September 28, 2018
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BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF FLORIDA