Kirby McInerney LLP Announces a Proposed Settlement for Purchasers of Singapore Pinnacle Notes Series 1, 2, 3, 6, 7, 9 and/or 10

NEW YORK, Dec. 16, 2014 /PRNewswire/ --       

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE

TO:  ALL PERSONS WHO PURCHASED DURING THE PERIOD JANUARY 1, 2006 THROUGH DECEMBER 31, 2010 PINNACLE NOTES SERIES 1, 2, 3, 6, 7, 9, AND/OR 10 PURSUANT TO THE OFFERING DOCUMENTS AT THE TIME OF THE INITIAL OFFERING

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York (the "District Court"), that a hearing will be held at 9:30 a.m. on July 2, 2015 before the Honorable Jesse M. Furman, United States District Court Judge, in Courtroom 1105, at the Thurgood Marshall United States Courthouse, 40 Foley Square, New York, New York, for the purpose of determining (1) whether the proposed settlement of this securities class action ("Action") for the principal amount of $20,000,000.00 USD, plus accrued interest, should be approved by the District Court as fair, reasonable, and adequate; (2) whether the Final Approval Order and Judgment should be entered by the District Court dismissing the Action with prejudice; (3) whether the proposed Plan of Distribution is fair, reasonable, and adequate and, therefore, should be approved; and (4) whether the Fee and Expense Application should be approved.  In connection with the Fee and Expense Application,  Counsel will request attorneys' fees of 30% of the Settlement Fund, plus expenses incurred in connection with the prosecution of this Action (exclusive of administration costs) not to exceed $950,000.00 USD.

If you purchased Pinnacle Notes Series 1, 2, 3, 6, 7, 9 and/or 10 pursuant to the Offering Documents during the period from January 1, 2006 through December 31, 2010, inclusive, your rights may be affected by the settlement of the Action.  If you have not received a detailed Notice of Pendency of Class Action Lawsuit and Proposed Settlement (the "Notice") and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to Ge Dandong et al. v. Pinnacle Performance Limited et al., c/o A.B. Data, Ltd., 30 Duxton Road, #02-00, Singapore 089494 or by calling 1-800-852-3875, or on the internet at www.pinnaclenotesettlement.com, or from Class Counsel's website at www.kmllp.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form, postmarked on or before June 2, 2015, establishing that you are entitled to recovery. Proof of Claim and Release Forms may also be submitted by email to [email protected] on or before June 2, 2015.

If you desire to be excluded from the Class, you must submit a Request for Exclusion Form postmarked no later than June 2, 2015.  If you have not received a copy of the Request for Exclusion Form, you may obtain a copy by writing to Ge Dandong et al. v. Pinnacle Performance Limited et al., c/o A.B. Data, Ltd., 30 Duxton Road, #02-00, Singapore 089494 or by calling 1-800-852-3875, or on the internet at www.pinnaclenotesettlement.com, or from Class Counsel's website at www.kmllp.com. All members of the Class who have not timely and validly requested exclusion from the Class will be bound by any judgment entered in the Action pursuant to the Stipulation of Settlement dated as of November 7, 2014.  If you properly and timely exclude yourself from the Class, you will not be bound by any judgments or orders entered by the District Court in the Action and you will not be eligible to share in the proceeds of the Settlement.

Any objections to any aspect of the proposed Settlement, the proposed Plan of Distribution, or Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses, must be filed with the District Court and delivered to the designated representatives of Lead Counsel and counsel for the Defendants such that they are received no later than June 11, 2015, in accordance with the instructions set forth in the Notice.

PLEASE DO NOT CONTACT THE DISTRICT COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact:

Contact:

Daniel Hume, 212-371-6600
[email protected]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/kirby-mcinerney-llp-announce-a-proposed-settlement-for-purchasers-of-pinnacle-notes-series-1-2-3-6-7-9-andor-10-300009906.html

SOURCE Kirby McInerney LLP

Related Links

http://www.kmllp.com

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