NEW YORK, Jan. 20, 2016 /PRNewswire/ -- Cohen Milstein Sellers & Toll PLLC announces the preliminary approval of a proposed class action settlement that would benefit purchasers of common stock of Orthofix International N.V.
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT
TO: ALL PERSONS AND ENTITIES WHO PURCHASED COMMON STOCK OF ORTHOFIX INTERNATIONAL N.V. ("ORTHOFIX") BETWEEN MARCH 2, 2010 AND JULY 29, 2013, INCLUSIVE (THE "CLASS PERIOD").
YOU ARE HEREBY NOTIFIED that a proposed Settlement has been reached in this Action. A hearing will be held with respect to the Settlement on April 28, 2016, at 4:30 P.M. before the Honorable John G. Koeltl, in the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., Courtroom 12B, New York, New York 10007.
The purpose of the hearing is to determine whether the proposed Settlement of the securities class action claims asserted in this Action, pursuant to which Orthofix will cause to be deposited into a Settlement Fund the sum of eleven million U.S. dollars ($11,000,000.00) in exchange for the dismissal of the Action with prejudice and a release of claims against the Defendants and Released Parties, should be approved by the Court as fair, reasonable and adequate and in the best interests of the Class. If you purchased Orthofix common stock during the Class Period, you may be entitled to share in the distribution of the Settlement Fund if you submit a Proof of Claim Form postmarked no later than April 16, 2016 to the Claims Administrator at: Orthofix Securities Settlement, 600 N. Jackson St., Suite 3, Media, PA 19063, and if the information and documentation you provide in that Proof of Claim Form establishes that you are entitled to a recovery.
This Summary Notice provides only a summary of matters regarding the Action and the Settlement. A detailed notice (the "Notice") describing the Action, the proposed Settlement, and the rights of Class Members to appear in Court at the Final Approval Hearing, to request to be excluded from the Class, and/or to object to the Settlement, the Plan of Allocation and/or the request by Lead Counsel for an award of attorneys' fees and reimbursement of Litigation Expenses, has been mailed to persons or entities known to be potential Class Members. You may obtain a copy of that Notice, a Proof of Claim Form, the Settlement and other information at www.orthofixsecuritiessettlement.com, or by writing to the following address or calling the following telephone number.
Orthofix Securities Settlement
c/o Strategic Claims Services
600 N. Jackson St.
Media, PA 19063
Tel: (866) 274-4004
If you are a Class Member, you have the right to object to the Settlement, the Plan of Allocation and/or the request by Lead Counsel for an award of attorneys' fees and Litigation Expenses, or otherwise request to be heard, by submitting no later than April 7, 2016, a written objection in accordance with the procedures described in the Notice. You also have the right to exclude yourself from the Class by submitting no later than April 7, 2016, a written request for exclusion from the Class in accordance with the procedures described in the Notice. If the Settlement is approved by the Court, you will be bound by the Settlement and the Court's Judgment, including the releases provided for in the Settlement and Judgment, unless you submit a request to be excluded.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the Notice, Proof of Claim Form and the Settlement referenced above, may be made to Lead Counsel for the Lead Plaintiff:
COHEN MILSTEIN SELLERS & TOLL PLLC
Daniel S. Sommers
1100 New York Ave N.W.
Suite 500, East Tower
Washington, D.C. 20005
Tel: (202) 408-4600
Dated: December 18, 2015
By Order of the Court,
United States District Court
for the Southern District of New York
SOURCE Cohen Milstein Sellers & Toll PLLC