Pomerantz LLP Announces the Proposed Settlement of the Delcath Systems Inc. Securities Litigation

Jul 14, 2015, 09:00 ET from Pomerantz LLP

NEW YORK, July 14, 2015 /PR Newswire/ -- The following statement is being issued by Pomerantz LLP regarding the Delcath Systems, Inc. Securities Litigation.

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

IN RE DELCATH SYSTEMS, INC. SECURITIES LITIGATION
13 Civ. 3116 (LGS), SUMMARY NOTICE OF PROPOSED SETTLEMENT AND RELATED MATTERS

IF YOU PURCHASED OR OTHERWISE ACQUIRED COMMON STOCK OF DELCATH SYSTEMS INC. ("DELCATH") BETWEEN (i) APRIL 21, 2010 AND APRIL 29, 2013, AND HELD AS OF THE END OF TRADING ON APRIL 29, 2013; AND (ii) APRIL 30, 2013 THROUGH MAY 2, 2013, AND HELD AS OF THE END OF TRADING ON MAY 2, 2013 (THE "CLASS"), YOU COULD RECEIVE A PAYMENT FROM A CLASS ACTION SETTLEMENT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure that a hearing will be held on October 19, 2015, at 11:00 a.m., before the Honorable Lorna G. Schofield, United States District Judge, at the Courthouse for the United States District Court, Southern District of New York, Courtroom 1106, Thurgood Marshall, United States Courthouse, 40 Foley Square, New York, NY 10007, for the purpose of determining, among other things, whether the following matters should be approved: (1) the proposed Settlement of the Class claims against the Defendants for $8,500,000.00; (2) the Plan of Allocation of the Settlement Fund; (3) Class Counsel's request for fees and expenses; (4) Lead Plaintiffs' request for Compensatory Awards; and (6) dismissals with prejudice of claims against Defendants. 

If you purchased or otherwise acquired Delcath common stock during the Class Period your rights may be affected.  If you have not received the detailed Notice of Proposed Settlement of Class Action and related matters (the "Notice") and Proof of Claim and Release Form, you may obtain them free of charge by contacting the Claims Administrator, by mail at: In re Delcath Systems, Inc. Securities Litigation, c/o GCG, PO Box 10189, Dublin, OH 43017-3189,Tel: (888) 470-0243, www.delcathsecuritieslitigation.com.

If you are a member of the Class and wish to share in the Settlement proceeds, you must submit a Proof of Claim no later than November 6, 2015 establishing that you are entitled to recovery.  As further described in the Notice, you will be bound by any Judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Class, in accordance with the procedures set forth in the Notice, by no later than September 28, 2015.  Any objections to the Settlement, Plan of Allocation or attorneys' fees and expenses must be filed and served, in accordance with the procedures set forth in the Notice, no later than September 28, 2015.

Inquiries, other than requests for the Notice, may be made to Class Counsel: Robert Willoughby, Investor Relations Manager, Pomerantz LLP, 600 Third Avenue, New York, NY 10016, Telephone: 212-661-1100, Toll-free: 888-476-6529.

INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE CLERK'S OFFICE, THE DEFENDANTS, OR DEFENDANTS' COUNSEL

DATED: July 14, 2015

BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN
DISTRICT OF NEW YORK

 

SOURCE Pomerantz LLP