ATLANTA, March 18, 2009 (GLOBE NEWSWIRE) -- Squitieri & Fearon, LLP and Parks, Chesin, & Walbert, P.C. Announce the Notice of Class Action Settlement Involving Tri-S Security Corporation.
STATE COURT OF FULTON COUNTY STATE OF GEORGIA
HAL UNSCHULD, on behalf of himself and all others similarly situated, Plaintiff,
v.
TRI-S SECURITY CORPORATION, f/k/a DIVERSIFIED SECURITY CORPORATION, et al. Defendants.
CIVIL ACTION FILE NO. 2006-EV-001333f
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION, FAIRNESS HEARING, AND CLAIM SUBMISSION
TO: ALL PERSONS AND ENTITIES THAT ACQUIRED UNITS, COMMON STOCK, OR WARRANTS OF TRI-S SECURITY CORPORATION BETWEEN FEBRUARY 9, 2005 AND NOVEMBER 1, 2007:
YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified on a preliminary basis for settlement purposes as a class action and that a total settlement payment of one million dollars ($1,000,000.00) has been proposed. A hearing will be held before the State Court of Fulton County at 10 a.m., on June 1, 2009, 185 Central Avenue, S.W., Courtroom 2F, Atlanta, Georgia to determine whether the proposed Settlement should be finally approved by the Court as fair, reasonable, and adequate; to consider the application of Plaintiff's counsel for attorneys' fees and reimbursement of expenses; and for other purposes. The Settlement has been preliminarily approved by the Court, and this Summary Notice is being published pursuant to the Court's Preliminary Approval and Notice Order.
For purposes of this Settlement only, the Class has been stipulated as:
Anyone who purchased or acquired, from February 9, 2005 through November 1, 2007, inclusive, Tri-S: (i) units issued pursuant to the Company's February 2005 IPO; (ii) common stock or warrants derived from such units; or (iii) common stock derived from the exercise of such warrants, such purchasers and acquirers constituting the "Class," "Settlement Class," or "Class Members." The Settlement Class does not include any Defendant, any Immediate Family of any Individual Defendant, any current or former officers or directors of any Corporate Defendant, any affiliates of any Corporate Defendant, or anyone with a Controlling Interest in a Corporate Defendant. Further, the Settlement does not include shares of Tri-S common stock or warrants issued pursuant to a private placement.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Class Action Settlement or the Proof of Claim form, you may obtain copies of these documents and other information by contacting the Claims Administrator:
Tri-S Securities Litigation Settlement c/o Strategic Claims Services 600 N. Jackson Street, Suite 3 Media, Pennsylvania 19063 (866) 274-4004 www.strategicclaims.net
Inquiries may also be addressed to Plaintiff's Counsel:
Stephen J. Fearon, Jr. Squitieri & Fearon, LLP 32 East 57th Street, 12th Floor New York, New York 10022 Telephone: (212) 421-6492 Facsimile: (212) 421-6553 David F. Walbert Parks, Chesin & Walbert, P.C. 26th Floor, 75 Fourteenth Street Atlanta, Georgia 30309 Telephone: (404) 873-8000 Facsimile: (404) 873-8050
You can review documents related to the proposed settlement at the Claims Administrator's website: www.strategicclaims.net.
DO NOT CALL OR WRITE THE COURT FOR INFORMATION
TO PARTICIPATE IN THE SETTLEMENT, YOU MUST TIMELY SUBMIT A PROOF OF CLAIM SO THAT IT IS RECEIVED BY THE CLAIMS ADMINISTRATOR NO LATER THAN MAY 26, 2009. Information that must be submitted with your Proof of Claim is described in the Proof of Claim form. If you are a Class Member and do not submit a proper Proof of Claim, you will not share in the settlement payment, but you will be bound by the orders and Final Judgment of the Court. To exclude yourself from the Class or to object to the Settlement, you may timely submit the appropriate documents, according to the procedures described in the Notice of Class Action Settlement and the Settlement Agreement, so that they are received no later than May 22, 2009.
By Order of the Court
CLERK OF THE COURT