To: All Persons Who Purchased The Common Stock Of SinoHub Inc. (The "Company" Or "SinoHub") During The Period May 17, 2010 Through August 21, 2012, Inclusive (the "Class Period") And Who Were Damaged Thereby:

Aug 11, 2015, 08:00 ET from Scott+Scott, Attorneys At Law, LLP

NEW YORK, Aug. 11, 2015 /PRNewswire/ -- Scott+Scott, Attorneys At Law, LLP announce class action settlement regarding SinoHub Inc. common stock.

YOU ARE HEREBY NOTIFIED, pursuant to an order of the United States District Court for the Southern District of New York, that a hearing will be held on November 13, 2015, at 11:30 a.m., before the Honorable William H. Pauley, III, at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., New York, New York, for the purpose of determining: (1) whether the proposed settlement of the claims of the above-captioned consolidated action (the "Action"), for the sum of $600,000 (the "Settlement Fund") in cash, less permitted fees, expenses and costs, should be approved by the Court as fair, reasonable, and adequate; (2) whether, thereafter, the Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement dated January 30, 2015, and as amended June 26, 2015 (the "Stipulation"); (3) whether the Plan of Distribution is fair, reasonable, and adequate and should, therefore, be approved; (4) whether the application of Lead Plaintiff for payment of costs and expenses (including, but not limited to, lost wages, if any) and of Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with the litigation should be approved; and (5) whether the Court should grant certification of the Class for purposes of the Settlement.

This litigation is a securities fraud class action brought on behalf of those persons who purchased the common stock of SinoHub during the Class Period ("Class Members"), against SinoHub and certain of its current and former officers and directors for allegedly issuing materially false and misleading public statements concerning, among others: (1) SinoHub's financial statements; (2) the Company's internal controls; (3) the Company's revenue; and (4) the success of SinoHub's "ICM" (cell phone) business.  The Complaint further alleges: (1) Baker Tilly knowingly or recklessly reviewed and certified SinoHub's flawed financial statements; (2) as a direct and proximate result of the allegedly false and misleading statements, the price of SinoHub's stock was artificially inflated at the time it was purchased by Lead Plaintiff and the Class Members; and (3) when the truth was allegedly revealed, the price of SinoHub's stock collapsed, allegedly damaging Lead Plaintiff and the Class.

If you purchased SinoHub common stock during the Class Period, your rights may be affected by the Settlement of the Action.  If you have not received the Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release ("Proof of Claim"), you may obtain copies by writing to SinoHub Securities Settlement, c/o KCC Class Action Services, P.O. Box 40007, College Station, TX 77842-4007 or on the internet at www.sinohubsettlement.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a fully completed and signed Proof of Claim postmarked no later than November 9, 2015, establishing that you are entitled to share in the recovery.

If you desire to be excluded from the Class, you must submit a request for exclusion postmarked by October 29, 2015, in the manner and form explained in the detailed Notice referred to above.  All Class Members who have not requested exclusion from the Class will be bound by any judgment entered in the Action pursuant to the Stipulation.

Any objection to the settlement must be mailed or delivered so that it is received by each of the following no later than October 29, 2015:

Court:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
Daniel Patrick Moynihan United States Courthouse
500 Pearl Street
New York, NY 10007

SEYFARTH SHAW LLP
William L. Prickett
Erik W. Weibust
World Trade Center East
Two Seaport Lane, Suite 300
Boston, MA  02210-2028

Attorneys for Defendant SinoHub

WHITE AND WILLIAMS LLP
Jay Shapiro
Michael N. Onufrak
Primitivo J. Cruz
One Penn Plaza
250 W. 34th Street, Suite 4110
New York, NY 10119

Attorneys for Defendant De Hui Li

CROWE & DUNLEVY, P.C.
Harry A. Woods, Jr.
Bruce W. Day
Mary H. Tolbert
324 North Robinson Avenue, Suite 100
Oklahoma City, OK 73102

Attorneys for Defendant Baker Tilly

SCOTT+SCOTT, ATTORNEYS AT LAW, LLP
David R. Scott
Joseph P. Guglielmo
Amanda F. Lawrence
The Chrysler Building,
405 Lexington Avenue, 40th Floor
New York, NY 10174

Lead Counsel for Plaintiff

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the settlement, you may contact Lead Counsel at the address listed above.

DATED: August 11, 2015

HON. WILLIAM H. PAULEY, III


UNITED STATES DISTRICT COURT


SOUTHERN DISTRICT OF NEW YORK

 

SOURCE Scott+Scott, Attorneys At Law, LLP



RELATED LINKS

http://www.sinohubsettlement.com