HOUSTON, May 08, 2017 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Southern District of Texas has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of BlueNRGY Group Limited, f/k/a CBD Energy Limited (OTCMKTS:CBDEF):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED BLUENRGY GROUP LIMITED, F/K/A CBD ENERGY LIMITED COMMON STOCK FROM JUNE 13, 2014 THROUGH OCTOBER 24, 2014, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of Texas, that a hearing will be held on July 27, 2017, at 9:00 a.m. before the Honorable Gray H. Miller, United States District Judge of the Southern District of Texas, 515 Rusk Street, Court Room 9-D, Houston, Texas 77002, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $1,500,000 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 Lead Counsel for an award of attorneys’ fees of up to one-third of the Settlement Amount, reimbursement of expenses of not more than $35,000, and an incentive payment to Lead Plaintiffs of no more than $10,000 in aggregate, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement dated April 14, 2017 (the “Settlement Stipulation”).
If you purchased BlueNRGY Group Limited, f/k/a CBD Energy Limited (“CBD”) common stock during the period from June 13, 2014 through October 24, 2014, both dates inclusive (the “Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in CBD common stock. 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 the Claims Administrator: CBD Energy Limited Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 3, 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 Settlement 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 June 29, 2017 to the Claims Administrator, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.
If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than July 6, 2017, in the manner and form explained in the Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.
Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Lead Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than July 6, 2017, by each of the following:
| Clerk of the Court United States District Court Southern District of Texas 515 Rusk Street Houston, Texas 77002 | LEAD COUNSEL: Phillip Kim, Esq. THE ROSEN LAW FIRM, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 | COUNSEL FOR DEFENDANTS PILLINGER, BARLOW, MORRO, AND BOTTO: Gerard G. Pecht NORTON ROSE FULBRIGHT US LLP 1301 McKinney, Suite 5100 Houston, TX 77010-3095 COUNSEL FOR DEFENDANTS NATIONAL SECURITIES CORPORATION AND NORTHLAND SECURITIES, INC.: Paul R. Bessette KING & SPALDING LLP 401 Congress Avenue, Suite 3200 Austin, Texas 78701 |
If you have any questions about the Settlement, you may call or write to Lead Counsel:
Phillip Kim, Esq.
THE ROSEN LAW FIRM, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
(212) 686-1060
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: April 20, 2017
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BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF TEXAS