BROOKLYN, N.Y., July 17, 2017 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Eastern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of Albany Molecular Research, Inc. (NASDAQ:AMRI):
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND FAIRNESS HEARING
TO: ALL PURCHASERS OF COMMON STOCK OF ALBANY MOLECULAR RESEARCH, INC. (“AMRI”) DURING THE PERIOD FROM AUGUST 5, 2014 THROUGH NOVEMBER 5, 2014, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of New York, that a hearing will be held before the Honorable Frederic Block, United States District Judge, on October 12, 2017 at 12:00 p.m. in Courtroom 1040 of the U.S. District Court for the Eastern District of New York, 225 Cadman Plaza East, Brooklyn, New York 11201, for the purpose of determining, among other things, (i) whether the proposed Settlement of this Action for $2,868,000 is fair, reasonable, and adequate and should be approved; (ii) whether this Action should be dismissed with prejudice as against the Defendants as set forth in the Amended Stipulation of Settlement dated as of June 23, 2017; (iii) whether the Plan of Allocation of the Net Settlement Fund is fair and reasonable and should be approved; and (iv) the reasonableness of an application of Lead Counsel for the payment of attorneys’ fees and expenses, incurred in connection with this Action. Lead Counsel intends to seek attorneys’ fees and reimbursement of expenses not to exceed $956,000 (33 1/3% of the Settlement Amount) and awards to Lead Plaintiffs of no greater than $12,000 ($6,000 each).
The Court has reserved the right to reschedule the hearing from time to time without further notice.
If, between August 5, 2014 and November 5, 2014, inclusive, (the “Settlement Class Period”) you purchased AMRI common stock, your rights may be affected by this Action and the settlement thereof. If you have not received the detailed Notice of Pendency and Proposed Settlement of Class Action and Fairness Hearing (the “Notice”) and Proof of Claim and Release form, you may obtain them free of charge at www.strategicclaims.net; by sending an e-mail to info@strategicclaims.net; by calling the Claims Administrator toll-free at 866-274-4004; or by writing to the Claims Administrator at: Albany Molecular Research, Inc. Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 3, Media, PA 19063. You may also contact Lead Counsel directly: Laurence Rosen, Esq. or Phillip Kim, Esq., The Rosen Firm, P.A., 275 Madison Avenue, 34th Floor, New York, New York 10016, (212) 686-1060.
If you are a member of the Settlement Class and wish to share in the Settlement money, you must submit a Proof of Claim and Release form postmarked no later than September 21, 2017 to the Claims Administrator 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 and Release form, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, postmarked no later than September 21, 2017 to the Claims Administrator. Any objections to the Settlement, Plan of Allocation or attorneys’ fees and expenses must be filed and served, in accordance with the procedures set forth in the Notice, received no later than September 21, 2017 to each of the following:
| Clerk of the Court U.S. District Court Eastern District of New York 225 Cadman Plaza East Brooklyn, NY 11201 | Laurence M. Rosen, Esq. Phillip Kim, Esq. THE ROSEN LAW FIRM, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Lead Counsel | Deborah S. Birnbach, Esq. Goodwin Procter LLP 100 Northern Avenue Boston, MA 02210 Counsel for Defendants |
If you have any questions about the Settlement, you may call or write to Lead Counsel:
Laurence M. Rosen, Esq.
Phillip Kim, Esq.
THE ROSEN LAW FIRM, P.A.
275 Madison Avenue, 34th Floor
New York, New York 10016
Tel.: 212-686-1060
Fax: 212-202-3827
PLEASE DO NOT CONTACT THE COURT OR
THE CLERK’S OFFICE ABOUT THIS NOTICE.
Dated: June 23, 2017
BY ORDER OF THE U.S. DISTRICT COURT
FOR THE EASTERN DISTRICT OF NEW YORK