NEW YORK, Dec. 5, 2016 /PRNewswire/ -- The Rosen Law Firm,
P.A. announces that the United States District Court for the
Southern District of New York has
approved the following announcement of a proposed class action
settlement that would benefit purchasers of American Depository
Shares of China Finance Online Co. Limited (NASDAQ:JRJC):
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION
REGARDING CHINA FINANCE ONLINE CO.
LTD. SECURITY HOLDERS
TO: ALL PERSONS WHO PURCHASED OR
OTHERWISE ACQUIRED AMERICAN DEPOSITARY SHARES OF CHINA FINANCE
ONLINE CO. LIMITED DURING THE PERIOD FROM APRIL 29, 2013 THROUGH JUNE 3, 2015, INCLUSIVE.
YOU ARE HEREBY NOTIFIED that the above-captioned action has been
certified as a class action for settlement purposes and that the
Lead Plaintiffs have reached a proposed settlement with China
Finance Online to resolve all claims in the case for $3,000,000 in cash.
The settlement Class consists of all persons and entities who
purchased or otherwise acquired China Finance Online American
Depositary Shares during the Class Period of April 29, 2013, through June 3, 2015, inclusive.
A "fairness hearing" will be held on March 21, 2017, at 10:00
a.m., at the United States District Court for the Southern
District of New York, located at
500 Pearl Street, Courtroom 17B, New York, New York 10007, to determine whether
the Court should approve the proposed settlement as fair,
reasonable and adequate and whether the Court should grant Lead
Counsel's application for attorneys' fees of up to one-third of the
Settlement Amount (or $1,000,000) and
up to $70,000 in expenses, and
claims administrator fees of up to $200,000. You are invited to attend this hearing
if you wish.
IF YOU ARE A CLASS MEMBER, YOUR RIGHTS WILL BE AFFECTED BY THIS
SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT
FUND.
If you have not received the full Notice of the Proposed
Settlement (the "Notice"), you may obtain it by contacting the
Claims Administrator, Strategic Claims Services, Inc., by mail at
China Finance Online Securities Litigation,
c/o Strategic Claims Services, Inc., 600 N. Jackson St., Ste.
3, Media, PA 19063, by telephone,
at 866-274-4004, or by email, at info@strategicclaims.net. You may
also download a copy of the Notice from:
www.strategicclaims.net.
To participate in the settlement, you must submit a Claim
Form. You may download the Claim Form from
www.strategicclaims.net, or you may contact the Claims
Administrator to request a Claim Form (and to be added to the
mailing list). Completed Claim Forms must be postmarked or
received by March 3, 2017, at the
Claims Administrator's address, China Finance Online Securities
Litigation, c/o Strategic Claims Services, 600 N. Jackson
St., Ste. 3, Media, PA 19063.
If you purchased or otherwise acquired American Depositary
Shares during the Class Period, you will be deemed a Class Member
unless you ask to opt out from the Class. Any requests to opt
out of the Settlement must be mailed to the Claims
Administrator's address, China Finance Online Securities
Litigation, c/o Strategic Claims Services, Inc., 600 N.
Jackson St., Ste. 3, Media, PA
19063 and postmarked or received by the Claim
Administrator by March 3, 2017.
Each request to opt out should (i) state the name,
address, telephone number, and e-mail address (if available) of the
person or entity requesting exclusion, (ii) state that
such person or entity requests exclusion from the China Finance
Online Settlement, (iii) be signed by the person or
entity requesting exclusion, and (iv) provide the
date(s) and number(s) of shares of all purchases and sales of
American Depositary Shares during the Class Period. You will
be bound by any judgment rendered in the class action unless you
timely request exclusion from the Class as more fully explained in
the Notice. If you submit a valid and timely request for
exclusion, you cannot share in the settlement money and will not be
bound by the Settlement.
The Notice also describes how you may object to any aspect the
Settlement, including the Plan of Allocation or the request for
attorneys' fees and expenses. All objections must be in
writing, postmarked or received by Counsel for the
Class no later than March 3,
2017, at the following address: Laurence Rosen, Esq., The Rosen Law Firm, P.A.,
275 Madison Avenue, 34th Floor, New York, NY 10016.
Inquiries, other than requests for copies of the Notice or for
inclusion in the mailing list for future notices, may also be
directed to Counsel for the Class, The Rosen Law Firm, P.A., at the
mailing address listed above, or by phone at (212) 686-1060 or
email at lrosen@rosenlegal.com.
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SOURCE The Rosen Law Firm, P.A.