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Cohen Milstein Sellers & Toll PLLC Announces Proposed Settlement of Central European Distribution Corporation Securities Litigation

CAMDEN, N.J.--(BUSINESS WIRE)--The following statement is being issued by Cohen Milstein Sellers & Toll PLLC regarding the CENTRAL EUROPEAN DISTRIBUTION CORPORATION Securities Litigation:

                           
IN RE CENTRAL EUROPEAN           :  

HON. JEROME B. SIMANDLE

DISTRIBUTION CORPORATION :
SECURITIES LITIGATION :

CIVIL ACTION NO:

:

1:11-CV-06247-JBS-KMW

The Document Relates To: :
ALL ACTIONS.           :   SUMMARY NOTICE
 

TO: ALL PERSONS WHO PURCHASED THE COMMON STOCK OF CENTRAL EUROPEAN DISTRIBUTION CORP. (“CEDC” OR THE “COMPANY”) BETWEEN MARCH 1, 2010 AND FEBRUARY 28, 2011, INCLUSIVE (THE “CLASS PERIOD”)

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of New Jersey, that a hearing will be held on November 14, 2014, at 10:00 a.m., before the Honorable Jerome B. Simandle, Chief United States District Judge, at the Mitchell H. Cohen Building & U.S. Courthouse, Courtroom 4A, 400 Cooper Street, Camden, NJ 08101, for the purpose of determining: (1) whether the proposed settlement of the claims in the Action for the principal amount of $1,150,000.00 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 Action with prejudice; (3) whether the Plan of Distribution 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 and Lead Plaintiffs’ expenses in connection with this Action should be approved.

IF YOU PURCHASED OR ACQUIRED ANY OF THE COMMON STOCK OF CEDC DURING THE PERIOD FROM MARCH 1, 2010 TO FEBRUARY 28, 2011, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF CEDC COMMON STOCK DURING THE CLASS PERIOD. 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 form, you may obtain copies by writing to CEDC Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 990, Corte Madera, CA 94976-0990, or on the internet at www.cedcsecuritiessettlement.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 postmarked no later than December 15, 2014 establishing that you are entitled to recovery. The Proof of Claim for this Settlement is the same as the Proof of Claim for the consolidated action Grodko v. Central European Distribution Corp., et al., No. 1:12-cv-05530-JBS-KMW; Puerto Rico System of Annuities and Pensions for Teachers v. Central European Distribution Corp., et al., No. 1:12-cv-05531-JBS-KMW. You only need to complete the Proof of Claim once.

If you purchased or otherwise acquired CEDC common stock and you desire to be excluded from the Class, you must submit a request for exclusion postmarked no later than October 20, 2014 in the manner and form explained in the detailed Notice referred to above. All members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Action pursuant to the Settlement Agreement.

Any objection to the settlement, the Plan of Distribution, or the request for attorneys’ fees and expenses must be received by each of the following recipients no later than October 20, 2014:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
Mitchell H. Cohen Federal Building & U.S. Courthouse
400 Cooper Street
Camden, NJ 08101
               

Lead Counsel:

           

Defendant William V. Carey’s Counsel:

 
COHEN MILSTEIN SELLERS WEIL, GOTSHAL & MANGES LLP
& TOLL PLLC ROBERT F. CARANGELO
DANIEL S. SOMMERS 767 Fifth Avenue
1100 New York Avenue N.W. New York, New York 10153
Suite 500 West
Washington, DC 20005              
 

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 Lead Counsel at the address listed above.

DATED: July 31, 2014

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY

Contacts

Cohen Milstein Sellers & Toll PLLC
Daniel S. Somers, 202-408-4600