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Glancy Binkow & Goldberg LLP Announces Proposed Settlement in the In re CRM Holdings, Ltd. Securities Litigation

LOS ANGELES, Jan. 5, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Glancy Binkow & Goldberg LLP regarding the In re CRM Holdings, Ltd. Securities Litigation.

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

IN RE CRM HOLDINGS, LTD SECURITIES LITIGATION
This Document Relates to: ALL ACTIONS.

Case No. 10-cv-00975-RPP

Hon. Robert P. Patterson

SUMMARY NOTICE

TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR ACQUIRED CRM HOLDINGS, LTD. COMMON STOCK BETWEEN DECEMBER 21, 2005 AND NOVEMBER 5, 2008.

1. YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on February 27, 2015, at 11:00 a.m., before The Honorable Robert P. Patterson, at the Daniel P. Moynihan U.S. Courthouse, 500 Pearl Street, Courtroom 24A, New York, New York, for the purpose of determining (1) whether the proposed Settlement of the claims in the Action for the sum of $1,950,000 in cash should be approved by the Court as fair, reasonable and adequate to Members of the Class; (2) whether, thereafter, this Action should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated as of August 21, 2014; (3) whether the proposed plan to distribute the settlement proceeds (the "Plan of Allocation") is fair, reasonable and adequate and therefore should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with this Action should be approved.

2. If you purchased or acquired CRM Holdings, Ltd. common stock between December 21, 2005 and November 5, 2008, inclusive, your rights may be affected by this Settlement. If you have not received a detailed Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees, Expenses, and Incentive Awards, and Settlement Fairness Hearing ("Notice") and a copy of the Proof of Claim and Release, you may obtain copies by writing to In re CRM Holdings, Ltd. Securities Litigation, c/o GCG, PO Box 10129, Dublin, OH 43017-3129, or you can download a copy at www.gcginc.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release postmarked no later than March 18, 2015, establishing that you are entitled to recovery.

3. PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed below:

Glancy Binkow & Goldberg LLP
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
settlements@glancylaw.com
1-888-773-9224

or go to the following website: www.gcginc.com.

DATED: 11/18/14

CONTACT: Media Contact(s): Lionel Z. Glancy, Esq. Glancy Binkow & Goldberg LLP 1-888-773-9224Source:Glancy Binkow & Goldberg LLP