Settlements & Class Notices
A proposed Settlement has been reached by the Parties in the constituent actions that make up the consolidated class action pending in the United States District Court for the Southern District of New York, which was brought on behalf of the Settlement Class.
Plaintiffs and the Settling Defendants, and their counsel, have concluded that the Settlement is advantageous, considering the risks and uncertainties to each side of continued litigation. The Parties and their counsel have determined that the Settlement is fair, reasonable, and adequate and is in the best interests of the Settlement Class Members.
The Settlement creates a Gross Settlement Fund in the amount of $1,250,000 in cash, plus interest that accrues on the fund prior to distribution. The terms of the Settlement are available by visiting the settlement website at www.molycorpsecuritieslitigation.com. Copies of the Settlement Notice and Proof of Claim Form can be viewed here by clicking on the links under Accompanying Documents.
Please note that the Settlement Hearing has been rescheduled to May 15, 2017 at 4:30 P.M. before Judge Paul A. Crotty, U.S.D.J, Courtroom 14C, 500 Pearl Street, New York, NY.
Other KM News