Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of ChinaCache International Holdings Ltd. American Depositary Shares
RIVERSIDE, Calif., May 5, 2021 /PRNewswire/ -- Pomerantz LLP announces that the United States District Court for the Central District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of ChinaCache International Holdings Ltd. American Depositary Shares:
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities who, during the period between April 10, 2015 and May 17, 2019, inclusive, purchased or otherwise acquired ChinaCache International Holdings Ltd. ("ChinaCache") American Depositary Shares (also referred to as American Depositary Receipts) and were allegedly damaged 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 Central District of California, 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 printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Plaintiff in the Action has reached a proposed settlement of the Action for $1,800,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on August 27, 2021 at 9:00 a.m., before the Honorable John W. Holcomb at the United States District Court for the Central District of California, George E. Brown, Jr. Federal Building and United States Courthouse, 3470 12th St., Riverside, CA 92501, Courtroom 2, 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 December 15, 2020 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses and Plaintiff's reimbursement for their time and expenses should be approved. The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means.
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. If you have not yet received the Notice and Proof of Claim Form ("Claim Form"), you may obtain copies of these documents by contacting the Claims Administrator at Likas v. ChinaCache International Holdings Ltd. et al., c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063, toll-free number: (866) 274-4004, Fax: (610) 565-7985, email: [email protected]. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.chinacachesettlement.com.
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 Form to the Claims Administrator postmarked no later than September 21, 2021 or submitted electronically by 11:59 p.m. EST on September 21, 2021. If you are a Settlement Class Member and do not submit a proper Claim 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 August 6, 2021 by the Claims Administrator, 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 Lead Counsel's motion for attorneys' fees and reimbursement of expenses and reimbursement to Plaintiff, must be filed with the Clerk of the Court and delivered to Lead Counsel and Settling Defendants' Counsel such that they are received no later than August 6, 2021:
Clerk's Office |
Lead Counsel Pomerantz LLP Jeremy A. Lieberman, Esq. 600 Third Avenue, 20th Floor New York, NY 10016 |
Settling Defendants' Counsel Quinn Emanuel Urquhart & Sullivan, LLP Michael B. Carlinsky, Esq. 51 Madison Avenue, 22nd Floor New York, NY 10010
|
Please do not contact the Court, the Clerk's office, ChinaCache, or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
POMERANTZ LLP
Jeremy Lieberman, Esq.
600 Third Ave., 20th Floor
New York, NY 10016
212-661-1100
Fax: 917-463-1044
[email protected]
Requests for the Notice and Claim Form should be made to:
Likas v. ChinaCache International Holdings Ltd. et al.
c/o Strategic Claims Services
600 N. Jackson St., Ste. 205
P.O. Box 230
Media, PA 19063
Toll-free number: 866-274-4004
Fax: 610-565-7985
www.chinacachesettlement.com
By Order of the Court
SOURCE Pomerantz LLP
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