LOS ANGELES, Nov. 21, 2016 /PRNewswire/ -- The following release was issued by RG/2 Claims Administration LLC, as Claims Administrator, on behalf of Levi & Korsinsky, LLP
JOSEPH FRAGALA, INDIVIDUALLY AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED, Plaintiff, v. 500.COM LIMITED, MAN SAN LAW, ZHENGMING PAN, DEUTSCHE BANK SECURITIES INC., PIPER JAFFRAY & CO., AND OPPENHEIMER & CO. INC., Defendants.
No. 2:15-CV-01463-JFW (Ex)
UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA
TO: All Persons (including, without limitation, their beneficiaries) who purchased or otherwise acquired American Depository Shares ("ADSs") of 500.com Limited ("500.com" or "the Company") between November 22, 2013 and March 2, 2015, inclusive (collectively, the "Settlement Class").
If you meet the above class definition, you could get a payment from a class action settlement.
A federal court authorized this Notice. This is not a solicitation from a lawyer.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Central District of California, that a hearing will be held on March 6, 2017, at 1:30 p.m., before The Honorable John F. Walter, at the United States District Court for the Central District of California, 350 W. 1st Street, Los Angeles, California 90012 (the "Court"), for the purpose of determining (1) whether the proposed settlement of claims in the above-captioned Action for consideration including the sum of $2,500,000.00 (two million five hundred thousand dollars) in cash should be approved by the Court as fair, reasonable and adequate; (2) whether this Action should be dismissed with prejudice as to the Defendants pursuant to the terms and conditions set forth in the Stipulation dated as of September 12, 2016; (3) whether the proposed plan to distribute the settlement proceeds (the "Plan of Allocation") is fair, reasonable and adequate and therefore should be approved; and (4) whether the application of Lead Plaintiff's Counsel for the payment of attorneys' fees and expenses incurred in connection with this Action and reimbursement of the Lead Plaintiff's reasonable costs and expenses (including lost wages) directly related to their representation of the Settlement Class should be approved.
If you purchased or otherwise acquired 500.com ADSs between November 22, 2013 and March 2, 2015, inclusive, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in the ADSs.
If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form that is received no later than January 14, 2017, establishing that you are entitled to recovery.
If you desire to be excluded from the Settlement Class, you must submit a request for exclusion to RG/2 Claims Administration LLC, P.O. Box 59479, Philadelphia, PA 19102-9479, so that it is received by December 30, 2016. Any objection to any aspect of the Settlement must be filed with the Court, Plaintiff's Counsel Designee and the Defendants' Counsel Designee, no later than December 30, 2016.
If you wish to receive a detailed Notice concerning the terms of the Settlement or the Proof of Claim and Release form, you may obtain copies by writing to RG/2 Claims Administration LLC, P.O. Box 59479, Philadelphia, PA 19102-9479, or by visiting www.rg2claims.com/500.com.html.
DO NOT TELEPHONE THE COURT, THE CLERK'S OFFICE OR ANY OF THE DEFENDANTS OR COUNSEL FOR THE DEFENDANTS REGARDING THIS NOTICE.
DATED November 21, 2016
By Order of the Court, United States District Court, Central District of California
SOURCE: Shannon L. Hopkins, Esq., Levi & Korsinsky LLP, 733 Summer Street, Suite 304, Stamford, CT 06901, Telephone 203-992-4523, firstname.lastname@example.org and Tina Chiango, RG/2 Claims Administration LLC, P.O. Box 59479, Philadelphia, PA 19102-9479, Telephone 866-742-4955, Facsimile 215-979-1695, email@example.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/legal-notice-in-re-500com-limited-securities-litigation-300366650.html
SOURCE RG/2 Claims Administration LLC