NEW YORK, April 29, 2023 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed settlement of class action that would benefit purchasers of 6D Global Technologies, Inc. securities:
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS WHO PURCHASED PUBLICLY TRADED 6D GLOBAL TECHNOLOGIES, INC. SECURITIES FROM JUNE 16, 2014 THROUGH SEPTEMBER 10, 2015, BOTH DATES INCLUSIVE
YOU ARE HEREBY NOTIFIED, pursuant to Orders of the United States District Court for the Southern District of New York, that a hearing will be held on October 6, 2023, at 10:00 a.m. before the Honorable Denise L. Cote, United States District Judge of the Southern District of New York, 500 Pearl Street, Courtroom 18B, New York, New York 10007 for the purpose of determining: (1) whether the proposed Settlement of the remaining claims in the above-captioned action for consideration of $260,000 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 of up to $86,666.67, one-third of the Settlement Fund plus interest for an award of Class Counsel’s attorneys’ fees, and reimbursement of their expenses of not more than $70,000 and incentive payments of no more than $7,000 to Plaintiffs, should be approved; and (4) whether the claims against the Settling Defendant should be dismissed with prejudice.
If you purchased publicly traded 6D Global securities during the period from June 16, 2014 through September 10, 2015, 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 6D Global securities. You may obtain copies of the detailed Notice of Proposed Settlement of Class Action (“Notice”) and the Proof of Claim and Release Form by writing to or calling the Claims Administrator: 6D Global Technologies, Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; info@strategicclaims.net. You can also download copies of the Notice and submit your Proof of Claim and Release Form online at www.strategicclaims.net. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form electronically at www.strategicclaims.net. or postmarked no later than September 6, 2023 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.
Previously, there had been a partial settlement in the Action (“the Partial Settlement”) that resolved claims against the defendants other than Defendant Wey. If you submitted a claim in the Partial Settlement, you do not need to submit another claim. The Claims Administrator will treat the claims submitted in the Partial Settlement as a claim in this matter.
If you are a Settlement Class Member and 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 September 15, 2023, in the manner and form explained in the detailed 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.
Any objection by a Settlement Class Member to the Settlement, Plan of Allocation, or Class Counsel’s request for an award to Class Counsel of attorneys’ fees and reimbursement of expenses and Awards to Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than September 15, 2023, by each of the following:
| Clerk of the Court United States District Court Southern District of New York 40 Foley Square New York, NY 10007 | CLASS COUNSEL THE ROSEN LAW FIRM, P.A. Michael Cohen 275 Madison Avenue, 40th Floor New York, NY 10016 |
If you have any questions about the Settlement, you may call or write to Class Counsel, The Rosen Law Firm, P.A., c/o Michael Cohen, 275 Madison Avenue, 40th Fl, New York, NY 10016, Tel: (212) 686-1060, Fax: (212) 202-3827, Email: mcohen@rosenlegal.com.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: April 3, 2023
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK
