NEW YORK, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP announces 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 would benefit purchasers of common stock of Liberty Health Sciences, Inc. (OTCMKTS: LHSIF):
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION
To: All persons who purchased or otherwise acquired shares of Liberty Health Sciences, Inc. on the over-the-counter market in the United States (“Shares” or, in singular, “Share”) between July 20, 2017 and December 6, 2018, both dates inclusive (the “Settlement Class Period”):
PLEASE READ THIS NOTICE CAREFULLY; YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned litigation (the “Action”) has been certified as a class action for the purpose of settlement on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of Proposed Settlement of Class Action (the “Notice”).
YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed settlement of the Action for $1,800,000 in cash (the “Settlement”), that, if approved, will resolve all claims in the Action.
Pursuant to an Order of the United States District Court for the Southern District of New York that a hearing will be held on November 15, 2021, at 11:00 a.m. before the Honorable Mary Kay Vyskocil, United States District Judge of the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., Courtroom 18C, New York, NY 10007-1312 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $1,800,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation of Settlement dated January 8, 2021 (“Settlement Stipulation”) (and in the Notice) should be granted; (3) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; and (4) whether the application of Lead Counsel for an award of attorneys’ fees of up to one-third (33.333%) of the Settlement Amount ($600,000) plus interest, reimbursement of expenses of not more than $35,000, and a Compensatory Award to Plaintiffs of no more than $8,000 (or $5,000 for Lead Plaintiff Nancy Lin and $3,000 for Plaintiff Gilbert Lee Silverbird) should be approved.
If you purchased or otherwise acquired Shares of Liberty between July 20, 2017 and December 6, 2018, 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 Liberty Shares. If you have not received a detailed Notice and a copy of the Proof of Claim and Release Form, you may obtain copies by visiting https://www.strategicclaims.net/Liberty/ or by contacting the Claims Administrator at Liberty Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Suite 205, Media, PA 19063; toll-free at (866) 274-4004; or at info@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 to the Claims Administrator either online at www.strategicclaims.net/Liberty/ no later than 11:59 p.m. on November 22, 2021 or at the address listed in the detailed Notice and postmarked no later than November 22, 2021, 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 October 25, 2021, 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 Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than October 25, 2021, by each of the following:
| Clerk of the Court United States District Court Southern District of New York 500 Pearl Street New York, NY 10007 | Lead Counsel Jeremy A. Lieberman Pomerantz LLP 600 Third Avenue, Floor 20 New York, NY 10016 | Counsel For Liberty Matthew Riccardi Perkins Coie LLP 1155 Avenue of the Americas 22nd Floor New York, NY 10036 |
If you have any questions about the Settlement, you may visit https://www.strategicclaims.net/Liberty/, write to Lead Counsel at the above address or jalieberman@pomlaw.com, or contact Lead Counsel at (212) 661-1100.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: July 8, 2021
____________________________
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK
