NEW YORK, Dec. 20, 2010 (GLOBE NEWSWIRE) -- Cohen Milstein Sellers and Toll today announced that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that, if approved, would benefit certain purchasers of shares of China Shenghuo Pharmaceutical Holdings, Inc. (AMEX:KUN):
TO: ALL PERSONS WHO PURCHASED THE PUBLICLY TRADED COMMON STOCK OF CHINA SHENGHUO PHARMACEUTICAL HOLDINGS, INC. DURING THE PERIOD FROM AUGUST 16, 2007 AND AUGUST 19, 2008, INCLUSIVE.
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 March 18, 2011 at 11:00 a.m. in courtroom 20B before the Honorable Victor Marrero, United States District Judge of the Southern District of New York, 500 Pearl Street, New York, New York 10007 (the "Settlement Hearing") for the purpose of determining: (1) whether the proposed Settlement consisting of the sum of $800,000 in cash, 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 $50,000 should be approved; and (4) whether the Litigation should be dismissed with prejudice.
If you purchased common stock of China Shenghuo during the period from August 16, 2007 and August 19, 2008, inclusive, 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 China Shenghuo Securities Litigation, c/o Strategic Claims Services, Claims Administrator, P.O. Box 230, 600 North Jackson Street, Suite 3, Media, PA 19063, or going to the website, www.strategicclaims.net/csp. 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 no later than May 17, 2011, establishing that you are entitled to recovery. You will be bound by any judgment rendered in the Litigation whether or not you make a claim.
Any objection to the Settlement, Plan of Allocation, or the Lead Plaintiff's Counsel's request for an award of attorneys' fees and reimbursement of expenses must be received by the addresses indicated in the Notice by no later than February 25, 2011:
| COURT |
| Clerk of the Court |
| United States District Court |
| Southern District of New York |
| 500 Pearl Street |
| New York, New York 10007 |
| PLAINTIFFS' COUNSEL |
| Julie Goldsmith Reiser |
| COHEN MILSTEIN |
| SELLERS & TOLL |
| 1100 New York Avenue, NW |
| Suite 500 East Tower |
| Washington, DC 20005 |
| Class Counsel for Plaintiffs |
| DEFENSE COUNSEL |
| Richard C. Schoenstein |
| PRYOR CASHMAN LLP |
| 7 Times Square |
| New York, New York 10036 |
| And |
| Lawrence A. Steckman |
| LESTER SCHWAB KATZ & DWYER, LLP |
| 120 Broadway |
| New York, New York 10271 |
Counsel for Defendants
If you have any questions about the Settlement, you may call or write to Plaintiffs' Counsel identified above. Copies of documents filed with the Court regarding the proposed settlement are also available at www.strategicclaims.net/csp.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK