Glancy Prongay & Murray LLP and The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of China Ceramics Co., Ltd.

NEW YORK--()--Glancy Prongay & Murray LLP and The Rosen Law Firm, P.A. announces that the United States District Court Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of China Ceramics Co., Ltd. (NASDAQ:CCCL):

SUMMARY NOTICE OF CLASS ACTION SETTLEMENT

 

TO:

ALL PERSONS WHO PURCHASED COMMON STOCK OF CHINA CERAMICS CO., LTD. DURING THE PERIOD FROM MARCH 30, 2012, THROUGH MAY 1, 2014, INCLUSIVE

 

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 January 6, 2016 at 2:00 p.m. in a courtroom before the Honorable Vernon S. Broderick, United States District Judge for the Southern District of New York, Daniel Patrick Moynihan Courthouse, 500 Pearl Street, New York, NY 10007-1312 (the “Settlement Hearing”) for the purpose of determining: (1) whether the proposed Settlement consisting of the sum of $310,000 in cash and $540,000 in China Ceramics common stock should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the settlement proceeds is fair and reasonable; (3) whether the application for an award of attorneys’ fees of up to $283,333 (in cash and stock in the same proportion as the overall settlement amount) and reimbursement of expenses of not more than $50,000 and an incentive payment of no more than $1,500 to each of the three lead plaintiffs should be approved; and (4) whether the above-captioned matters (the “Litigation”) should be dismissed with prejudice.

If you purchased common stock of China Ceramics, during the class period from March 30, 2012, through and including May 1, 2014, your rights may be affected by the Settlement of this action. If you have not received a detailed Notice of Pendency and Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release, you may obtain copies by writing to the Claims Administrator at: China Ceramics Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 3, Media, PA 19063, or going to the website, www.strategicclaims.net. If you are a member of the Class, to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release postmarked no later than December 30, 2015 to the Claims Administrator, establishing that you are entitled to a recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Litigation whether or not you make a claim. If you desire to be excluded from the Class, you must submit a request for exclusion postmarked no later than December 16, 2015, in the manner and form explained in the detailed Notice to the Claims Administrator.

Any objection to the settlement must be made in writing setting forth the objection in the manner and form explained in the detailed Notice and must be provided to the Court and parties so that it is received no later than December 16, 2015, to each of them at the following addresses:

         
Clerk of the Court   Eugene R. Licker   Brian P. Murray
United States District Court Loeb & Loeb LLP Gregory B. Linkh
Southern District of New York 345 Park Avenue

Glancy Prongay & Murray LLP

Daniel Patrick Moynihan Courthouse New York, NY 10154 122 East 42nd Street, Suite 2920
500 Pearl Street Telephone: (212) 407-4157 New York, NY 10168
New York, NY 10007-1312 Facsimile: (646) 219-7454 Telephone: (212) 682-5340
Facsimile: (212) 884-0988
Thomas Patrick Battistoni
Schiff Hardin LLP Laurence Matthew Rosen
666 Fifth Avenue, 17th Floor Phillip C. Kim
New York, NY 10103 The Rosen Law Firm, P.A. (NYC)
Telephone: (212) 745-0877 275 Madison Avenue, 34th Floor
Facsimile: (212) 753-5044

New York, NY 10016

Telephone: (212) 686-1060
Counsel for Defendants Facsimile: (212) 202-3827
        Counsel for Lead Plaintiffs
 

Objectors need not personally appear at the hearing to have their objection considered by the Court. However if an objector seeks to appear at the hearing, the objector must provide notification of the request to appear at the hearing in his written objection.

If you have questions about the Settlement, you may call or write one of the counsel for lead plaintiffs listed above.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

Dated: September 1, 2015

 
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN
DISTRICT OF NEW YORK

Contacts

Glancy Prongay & Murray LLP
Brian P. Murray or Gregory B. Linkh
212-682-5340
or
The Rosen Law Firm, P.A. (NYC)
Laurence Matthew Rosen or Phillip C. Kim
212-686-1060

Strategic Claims Services