NASHVILLE, Tenn., Oct. 16, 2014 (GLOBE NEWSWIRE) --
UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF TENNESSEE
|LAWRENCE BLITZ, Individually and On||)||No. 3:11-cv-0992|
|Behalf of All Others Similarly Situated,||)|
|)||CONSOLIDATED CLASS ACTION|
|)||Chief Judge Todd J. Campbell|
|v.||)||Magistrate Judge E. Clifton Knowles|
|AGFEED INDUSTRIES, INC., JOHN A.||)||SUMMARY NOTICE OF|
|STADLER, GERARD DAIGNAULT, CLAY||)||PROPOSED SETTLEMENT OF|
|MARSHALL, EDWARD PAZDRO, ARNOLD||)||CLASS ACTION AND|
|STALOFF, FREDERIC RITTEREISER, IVAN||)||SETTLEMENT HEARING|
|GOTHNER, SONGYAN LI, SELINA JIN,||)|
|LIANGFAN YAN, JUNHONG XIONG,||)||EXHIBIT 2|
|GOLDMAN KURLAND & MOHIDIN, LLP, AND||)|
|MCGLADREY & PULLEN LLP||)|
SUMMARY NOTICE OF PROPOSED SETTLEMENT
OF CLASS ACTION, MOTION FOR ATTORNEYS' FEES
AND EXPENSES, AND FINAL APPROVAL HEARING
TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED AGFEED INDUSTRIES, INC. ("AGFEED") SECURITIES (STOCK SYMBOL: FEED) DURING THE PERIOD FROM MARCH 16, 2009 THROUGH AND INCLUDING SEPTEMBER 29, 2011, BOTH DATES INCLUSIVE (THE "CLASS PERIOD").
Excluded from the Class are Defendants, all current and former directors and officers of AgFeed during the Class Period, members of their families and their legal representatives, heirs, successors or assigns and any entity in which Defendants have or had a controlling interest.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Middle District of Tennessee, that a settlement of the above-captioned class action has been proposed. A hearing will be held on December 8, 2014, at 12:00 p.m., before the Honorable Todd J. Campbell, United States District Judge, at the courthouse for the United States District Court, Middle District of Tennessee, Nashville Division, Courtroom 874, 801 Broadway, Nashville, Tennessee 37203 for the purpose of determining, among other things: (1) whether a Settlement Class should be certified for purposes of the Settlement and whether Class Plaintiffs and their counsel have adequately represented the Class Members; (2) whether the proposed Settlement of the Class's claims against the Defendants for Seven Million Dollars ($7,000,000) should be approved as fair, reasonable and adequate; (3) whether the proposed Plan of Allocation is fair, just, reasonable, and adequate; (4) whether the Court should permanently enjoin the assertion of any claims that arise from or relate to the subject matter of the Action; (5) whether the Action should be dismissed with prejudice against the Defendants as set forth in the Stipulation of Settlement filed with the Court; (6) whether the application by Lead Counsel for an award of attorneys' fees and expenses should be approved; and (7) whether the Lead Plaintiffs' application for reimbursement of costs and expenses should be granted.
If you purchased or otherwise acquired AgFeed Securities between March 16, 2009 through and including September 29, 2011, your rights may be affected by this Action and the Settlement thereof. If you have not received the detailed Notice Of Proposed Settlement Of Class Action, Motion For Attorneys' Fees And Expenses, And Final Approval Hearing (the "Notice") and Proof of Claim and Release Form, you may obtain them free of charge by contacting the Claims Administrator, by mail at: Blitz v. AgFeed, Industries, Inc., c/o Claims Administrator, P.O. Box 3207, Portland, OR. 97208-3207; by telephone at: 800-625-7675; or by visiting the Settlement website www.AgFeedSecuritiesLitigation.com.
If you are a member of the Class and wish to share in the Settlement money, you must submit a Proof of Claim no later than December 31, 2014 establishing that you are entitled to recovery. As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Class in accordance with the procedures set forth in the Notice by no later than November 23, 2014. Any objections to the Settlement, Plan of Allocation or attorney's fees and expenses must be filed and served in accordance with the procedures set forth in the Notice no later than November 24, 2014.
Inquiries, other than requests for the Notice, may be made to Lead Counsel for the Class:
Joshua B. Silverman, Esq., Pomerantz LLP, 10 South La Salle Street, Ste. 3505,
Chicago, IL 60603, firstname.lastname@example.org
INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE
CLERK'S OFFICE, THE DEFENDANTS, OR DEFENDANTS' COUNSEL
|DATED: October 2, 2014||BY ORDER OF THE UNITED STATES|
|DISTRICT COURT FOR THE MIDDLE|
|DISTRICT OF TENNESSEE, NASHVILLE|
Source:US District Court, Middle DistrictofTennessee, Nashville Div.