Federman & Sherwood Announce Notice Of Pendency And Proposed Settlement Of Class Action In The Houston American Energy Corp. Securities Litigation

OKLAHOMA CITY, May 6, 2015 /PRNewswire/ -- The following statement is being issued by Federman & Sherwood regarding the Houston American Energy Corp. Securities Litigation.

UNITED STATES DISTRICT COURT, SOUTHERN DISTRICT OF TEXAS
In re HOUSTON AMERICAN ENERGY CORP. SECURITIES LITIGATION
THIS DOCUMENT RELATES TO: ALL ACTIONS, Master File No. 4:12-cv-01332

SUMMARY NOTICE OF PROPOSED CLASS ACTION SETTLEMENT

TO:  ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK AND/OR CALL OPTIONS AND/OR SOLD THE PUT OPTIONS OF HOUSTON AMERICAN ENERGY CORP. DURING THE PERIOD FROM NOVEMBER 9, 2009 THROUGH APRIL 18, 2012, INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of Texas, that a hearing will be held on July 29, 2015 at 10:00 a.m. in Courtroom 9C before the Honorable Melinda Harmon, United States District Judge for the Southern District of Texas, 515 Rusk Avenue, Houston, Texas 77002 (the "Settlement Hearing") for the purpose of determining:  (1) whether the Court should approve the proposed Settlement consisting of the sum of $7,000,000, as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the settlement proceeds is fair, reasonable and adequate; (3) whether the application by Plaintiffs' Counsel for an award of attorneys' fees, reimbursement of expenses and a reimbursement award to Lead Plaintiffs should be approved; and (4) whether the Litigation should be dismissed with prejudice and in accordance with the terms of the Settlement.

If you purchased publicly traded common stock and/or call options and/or sold put options of Houston American Energy Corp. (NYSE-MKT: HUSA) during the period from November 9, 2009 through April 18, 2012 (the "Class Period"), inclusive, your rights may be affected by the Settlement of this action.  If you have not received a detailed Notice of Pendency and Settlement of Class Action (the "Notice") and a copy of the Proof of Claim and Release, you may obtain copies by writing to In re Houston American Energy Corp. Securities Litigation, c/o Heffler Claims Group, P.O. Box 58820, Philadelphia, PA 19102, or going to the website, www.HoustonAmericanSettlement.com. If you are a member of the Class, to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release no later than July 30, 2015, establishing that you are entitled to recovery.  Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Litigation whether or not you make a claim. To exclude yourself from the Class, you must submit a Request for Exclusion to the Claims Administrator in the manner detailed in the Notice, and postmarked no later than July 8, 2015.

Any objection to the Settlement, Plan of Allocation, or the Lead Plaintiff's Counsel's request for an award of attorneys' fees and reimbursement of expenses and a reimbursement award to Lead Plaintiffs must be received by the following at the designated addresses no later than July 8, 2015:

COURT
Clerk of the Court
United States District Court
Southern District Texas
P.O. Box 61010
Houston, Texas 77002

PLAINTIFFS' COUNSEL
Jeremy A. Lieberman
Murielle Steven Walsh
POMERANTZ LLP
600 Third Avenue
New York, NY 10016

William B. Federman
Federman & Sherwood
10205 North Pennsylvania Avenue
Oklahoma City, OK  73120
Telephone:  (405) 235-1560
Facsimile: (405) 239-2112

DEFENSE COUNSEL
Gerard G. Pecht
FULBRIGHT & JAWORSKI LLP
Fulbright Tower
1301 McKinney, Suite 5100
Houston, TX 77010-3095
Telephone: (713) 651-5151
Facsimile: (713) 651-5246

Peter A. Stokes
Mark Oakes
98 San Jacinto Boulevard
Suite 1100
Austin, Texas 78701-4255
Telephone: (512) 474-5201
Facsimile: (512) 536-4598

If you have any questions about the Settlement, you may call or write to Plaintiffs' Counsel identified above.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

DATED: May 6, 2015                

BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF TEXAS

SOURCE Federman & Sherwood