BROOKLYN, N.Y., Oct. 21, 2019 /PRNewswire/ -- Glancy Prongay & Murray LLP and Pomerantz LLP announce that the United States District Court for the Eastern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities of Rockwell Medical, Inc. (NASDAQ: RMTI):
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) SETTLEMENT HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: all persons or entities that purchased or otherwise acquired Rockwell Common Stock or Rockwell Call Options, or sold Rockwell Put Options between November 8, 2017 and June 26, 2018, inclusive (the "Settlement Class Period") and were injured thereby (the "Settlement Class"):
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 Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Eastern District of New York, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed settlement of the Action for three million seven hundred thousand dollars ($3,700,000.00 USD) in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on February 26, 2020 at 11:00 a.m., before the Honorable Allyne R. Ross at the United States District Court for the Eastern District of New York, Courtroom 2E, 225 Cadman Plaza East, Brooklyn, NY 11201, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated August 6, 2019 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Co-Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.
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. The Notice and Proof of Claim and Release Form (the "Claim and Release Form"), can be downloaded from the website maintained by the Claims Administrator, www.RockwellSecuritiesSettlement.com. You may also obtain copies of the Notice and Claim and Release Form by contacting the Claims Administrator at Too v. Rockwell Medical, Inc., c/o Strategic Claims Services, 600 N. Jackson Street, Suite 205, Media, PA 19063, 866-274-4004.
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 and Release Form to the Claims Administrator postmarked no later than February 7, 2020. If you are a Settlement Class Member and do not submit a proper Claim and Release 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 February 5, 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, or Co-Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Co-Lead Counsel and Defendants' Counsel such that they are received no later than February 5, 2020, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Defendants, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Co-Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim and Release Form, should be made to Co-Lead Counsel:
GLANCY PRONGAY & MURRAY LLP
Casey E. Sadler, Esq.
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Telephone: (310) 201-9150
Jeremy A. Lieberman, Esq.
600 Third Avenue, 20th Floor
New York, NY 10016
Telephone: (212) 661-1100
Facsimile: (212) 661-8665
Requests for the Notice and Claim and Release Form should be made to:
Too v. Rockwell Medical, Inc.
c/o Strategic Claims Services
600 N. Jackson Street, Suite 205
Media, PA 19063
Telephone: (866) 274-4004
By Order of the Court
SOURCE Glancy Prongay & Murray LLP