Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of TCPI Sohal Securities Litigation

CLEVELAND--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the TCPI Sohal Securities Litigation:

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF OHIO

   

SANKTOKH SOHAL, Individually and on Behalf of

) No. 1:15-cv-00393-DAP

All Others Similarly Situated,

) Judge Dan Aaron Polster
Plaintiff, )

CLASS ACTION

vs. )

ELLIS YAN, et al.,

)
Defendants. )

 

)
  )
 

SUMMARY NOTICE

   

TO:

ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF TCP INTERNATIONAL HOLDINGS LTD. (“TCPI”) AT ANY TIME DURING THE PERIOD FROM JUNE 26, 2014, THROUGH AND INCLUDING FEBRUARY 26, 2015, INCLUDING PURCHASERS OF TCPI COMMON STOCK PURSUANT AND/OR TRACEABLE TO THE REGISTRATION STATEMENT FOR TCPI’S JUNE 25, 2014 INITIAL PUBLIC OFFERING

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Ohio, that a hearing will be held on August 1, 2017, at 12:00 p.m. EDT, before the Honorable Dan A. Polster, United States District Judge, at the United States District Court for the Northern District of Ohio, Carl B. Stokes U.S. Courthouse, 801 West Superior Avenue, Cleveland, Ohio, for the purpose of determining: (1) whether the proposed Settlement of the claims in the Litigation for the principal amount of $7,175,000, plus interest, should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation of Settlement proceeds is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys’ fees and expenses in connection with this Litigation should be approved. Lead Counsel will request attorneys’ fees of no greater than 25% of the Settlement Fund, plus expenses not to exceed $100,000.

IF YOU PURCHASED OR OTHERWISE ACQUIRED TCPI COMMON STOCK AT ANY TIME DURING THE PERIOD FROM JUNE 26, 2014, THROUGH AND INCLUDING FEBRUARY 26, 2015, OR PURSUANT AND/OR TRACEABLE TO THE REGISTRATION STATEMENT FOR TCPI’S JUNE 25, 2014 INITIAL PUBLIC OFFERING, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

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 TCPI Sohal Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 30216, College Station, TX 77842-3216, or on the internet at www.tcpisohalsecuritieslitigation.com.

If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail to the address above postmarked no later than September 6, 2017, or online at www.tcpisohalsecuritieslitigation.com no later than September 6, 2017, establishing that you are entitled to recovery. You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, to TCPI Sohal Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, EXCLUSIONS, 3301 Kerner Blvd., San Rafael, CA 94901, postmarked by July 7, 2017.

Any objection to the Settlement, the Plan of Allocation, or the fee and expense application must be received, not simply postmarked, by each of the following recipients no later than July 7, 2017:

                           
CLERK OF THE COURT

Counsel for Lead Plaintiff:

UNITED STATES DISTRICT COURT ELLEN GUSIKOFF STEWART
NORTHERN DISTRICT OF OHIO ROBBINS GELLER RUDMAN
Carl B. Stokes U.S. Courthouse & DOWD LLP
801 West Superior Avenue 655 West Broadway, Suite 1900
Cleveland, OH 44113 San Diego, CA 92101
               

Counsel for Defendants:

 
CHARLES F. SMITH JUDY L. WOODS ADAM S. HAKKI
MARCELLA L. LAPE BENESCH, FRIEDLANDER, DANIEL C. LEWIS
GAIL E. LEE COPLAN & ARONOFF LLP SHEARMAN & STERLING LLP
SKADDEN, ARPS, SLATE, One American Square, Suite 2300 599 Lexington Avenue
MEAGHER & FLOM LLP Indianapolis, IN 46282 New York, NY 10022
155 North Wacker Drive,
Suite 2700
Chicago, IL 60606-1720
 

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact counsel for Lead Plaintiff at the address listed above.

                         
DATED: April 13, 2017 BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF OHIO
 

Contacts

Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson, 800-449-4900

Contacts

Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson, 800-449-4900