ELIZABETH, N.J., July 10, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the Superior Court of New Jersey has approved the following announcement of a proposed class action settlement that would benefit holders of common stock of Genta Incorporated (OTCMKTS:GNTAQ):
SUMMARY NOTICE OF PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO HELD THE COMMON STOCK OF GENTA INCORPORATED AS OF JUNE 5, 2008.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Superior Court of New Jersey, Law Division, Union County, that a hearing will be held on September 18, 2013 at 10:00 a.m. before the Honorable Kenneth J. Grispin, P.J.Cv. of the Superior Court of New Jersey, Union County, 2 Broad Street, 13th Floor, Elizabeth, NJ 07202 (the "Settlement Hearing") for the purpose of determining: (1) whether the proposed Settlement consisting of the sum of $785,000 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 for an award of attorneys' fees of one third of the Settlement Amount and reimbursement of expenses of not more than $25,000 should be approved; and (4) whether the Litigation should be dismissed with prejudice.
If you held the common stock of Genta Incorporated as of June 5, 2008, your rights may be affected by the Settlement of this action. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action and a copy of the Proof of Claim and Release, you may obtain copies by writing to Genta Incorporated Litigation, 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); firstname.lastname@example.org), or going to the website, www.strategicclaims.net. If you are a member of the Class, 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 August 30, 2013, 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 desire to be excluded from the Class, you must submit a request for exclusion so that it is received no later than August 29, 2013, in the manner and form explained in the detailed Notice to the Claims Administrator.
Any objection to the Proposed Settlement, Plan of Allocation, or the Class 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 received no later than August 29, 2013, to each of the following:
|Deputy Clerk of the Superior Court||Laurence M. Rosen, Esq.||Marc J. Sonnenfeld|
|Superior Court of New Jersey||THE ROSEN LAW FIRM, P.A.||MORGAN, LEWIS & BOCKIUS LLP|
|Union County Courthouse||236 Tillou Road||1701 Market Street|
|2 Broad Street||South Orange, NJ 07079||Philadelphia, PA 19103-2921|
|Elizabeth, NJ 07202||Tel: (973) 313-1887||Tel: (215) 963-5572|
|Fax: (973) 833-0399||Fax: (215) 963-5001|
|Counsel for Plaintiffs||Christopher Iannicelli|
|MORGAN, LEWIS & BOCKIUS LLP|
|502 Carnegie Center|
|Princeton, NJ 08540|
|Tel: (609) 919-6623|
|Fax: (609) 919-6701|
|Counsel for the Defendants|
If you have any questions about the Proposed Settlement, you may call or write to Class Counsel:
|Laurence M. Rosen, Esq.|
|THE ROSEN LAW FIRM, P.A.|
|236 Tillou Road|
|South Orange, NJ 07079|
|Tel: (973) 313-1887|
|Fax: (973) 833-0399|
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
DATED: May 27, 2013.
The Honorable Kenneth J. Grispin, P.J.Cv.
Source: The Rosen Law Firm PA