MIAMI, Dec. 18, 2014 (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 common stock of Catalyst Pharmaceutical Partners, Inc. (Nasdaq:CPRX):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED THE COMMON STOCK OF CATALYST PHARMACEUTICAL PARTNERS, INC. BETWEEN AUGUST 27, 2013 AND OCTOBER 18, 2013, AND DID NOT SELL SUCH SHARES BEFORE OCTOBER 18, 2013.
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 March 16, 2015, at 10:00 a.m. before the Honorable Ursula Ungaro, United States District Judge of the Southern District of Florida, 400 North Miami Avenue, Miami, FL 33128, Courtroom # 12b, for the purpose of determining: (1) whether the proposed settlement of the claims in the Litigation for the sum of $3,500,000 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 one third of the Settlement, reimbursement of expenses of not more than $200,000, and an incentive payment of no more than $20,000 in aggregate to the Class Representatives, should be approved; and (4) whether the Litigation should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement ("Settlement Stipulation") dated November 21, 2014.
If you purchased the common stock of Catalyst Pharmaceutical Partners, Inc. ("Catalyst") between August 27, 2013 and October 18, 2013, both dates inclusive, and did not sell such shares before October 18, 2013, 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 ("Notice") and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to or calling Catalyst Pharmaceutical Partners, Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 3, 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 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 February 2, 2015, 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 February 23, 2015, in the manner and form explained in the detailed Notice to the Claims Administrator. All members of the Class who have not requested exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the Settlement Stipulation.
Any objection to the Settlement, Plan of Allocation, or the Class Counsel's request for an award of attorneys' fees and reimbursement of expenses and payments to the Class Representatives must be in the manner and form explained in the detailed Notice and received no later than March 2, 2015, to each of the following:
| Clerk of the Court | Laurence M. Rosen, Esq. | Brian P. Miller, Esq. |
| United States District Court | THE ROSEN LAW FIRM, P.A. | Samantha J. Kavanaugh, Esq. |
| Southern District of Florida | 275 Madison Avenue, 34th Floor | AKERMAN LLP |
| 400 North Miami Avenue | New York, NY 10016 | One Southeast Third Avenue |
| Miami, FL 33128 | 25th Floor | |
| Class Counsel | Miami, FL 33131 | |
| Counsel for Defendants |
If you have any questions about the Settlement, you may call or write to Class Counsel:
Laurence M. Rosen, Esq.
THE ROSEN LAW FIRM, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Telephone: (212) 686-1060
Fax: (212) 202-3827
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
Dated: December 3, 2014
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF FLORIDA