Criden & Love, P.A. Announce a Proposed Class Action Settlement Involving the LJM Preservation and Growth Fund

MIAMI, Oct. 23, 2019 /PRNewswire/ --

CIRCUIT COURT OF COOK COUNTY
STATE OF ILLINOIS

SUMMARY NOTICE OF (I) PROPOSED CLASS ACTION
SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND
(III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES

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 the Illinois Rules of Civil Procedure and an Order of the Circuit Court of Cook County, Illinois, that the Plaintiff and Defendants LJM Funds Management, Ltd. and Anthony Caine (the "LJM Defendants") in Sokolow v. LJM Funds Management, Ltd., Case No. 18-CH-11880 (the "Action") have reached a proposed settlement of the Action for $1,225,000 in cash, as well as an assignment of twenty percent of any recovery by Mr. Caine in any future case that is brought on behalf of LJM Funds Management, Ltd. (the "Settlement"), that, if approved, will resolve all claims against the LJM Defendants in the Action. 

A hearing will be held on June 3, 2020 at 11:00 a.m., before the Honorable Raymond Mitchell at Courtroom 2601 of the Circuit Court of Cook County, Illinois, 50 W. Washington Street, Chicago, IL 60602, to determine whether: (1) the proposed Settlement should be approved as fair, reasonable, and adequate; (2) the Action should be dismissed with prejudice against the LJM Defendants, and the Releases specified and described in the Settlement Agreement should be granted; (3) the proposed Plan of Allocation should be approved as fair and reasonable; (4) Class Counsel's motion for an award of attorneys' fees of up to one-third of the Settlement Fund and payment of litigation expenses of up to $25,000 from the Settlement Fund; (5) Class Counsel's motion for a service award for Plaintiff in the amount of $10,000; and (6) any other matter related to the Settlement that the Court deems appropriate.

If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Long-Form Notice and Claim Form, you may obtain copies of these documents by contacting the Settlement Administrator at: Sokolow LJM Funds State Action, c/o A.B. Data, Ltd., P.O. Box 173057, Milwaukee, WI  53217, 1-877-234-6578. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Settlement Administrator, LJMFundStateLitigation.com.   

If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form so that is received by the Settlement Administrator no later than April 30, 2020.  If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than January 13, 2020, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.   

Any objections to the proposed Settlement, the proposed Plan of Allocation, Class Counsel's motion for attorneys' fees and reimbursement of expenses, or Class Counsel's request for a service award for the Plaintiff must be filed with the Court and delivered to Class Counsel such that they are received no later than March 2, 2020, in accordance with the instructions set forth in the Long-Form Notice.

If you have questions regarding this publication notice, please do not contact the Court.  All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Class Counsel or the Settlement Administrator.

Requests for the Long-Form Notice and Claim Form should be made to: Sokolow LJM Funds State Action, c/o A.B. Data, Ltd., P.O. Box 173057, Milwaukee, WI 53217; (877) 234-6578 toll free; or LJMFundStateLitigation.com.

Inquiries, other than requests for the Long-Form Notice and Claim Form, should be made to Class Counsel: Michael E. Criden, Esq., Criden & Love, P.A., 7301 S.W. 57^th Court, Suite 515, South Miami, FL 33143; (305) 357-9000.

SOURCE Criden & Love, P.A.