Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Corinthian Colleges Securities Litigation

LOS ANGELES--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Corinthian Colleges Securities Litigation:

 
UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
WESTERN DIVISION
 
JIMMY ELIAS KARAM, Individually and on       )     No. 2:10-cv-06523-RGK(PJWx)
Behalf of All Others Similarly Situated, )

CLASS ACTION

Plaintiff, )
)
vs. )
)
CORINTHIAN COLLEGES, INC., et al., )
Defendants. )
      )
 

SUMMARY NOTICE

 

TO:

 

ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED CORINTHIAN COLLEGES, INC. (“CORINTHIAN” OR THE “COMPANY”) COMMON STOCK BETWEEN OCTOBER 30, 2007 AND AUGUST 19, 2010, INCLUSIVE

 

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Central District of California, a hearing will be held on September 25, 2017, at 9:00 a.m., before the Honorable R. Gary Klausner, at the United States District Court, Central District of California, 255 East Temple Street, Courtroom 850, Los Angeles, California 90012, for the purpose of determining: (1) whether the settlement of the Litigation set forth in the Stipulation of Settlement dated May 9, 2017 (“Stipulation” or “Settlement”) for the sum of $2,250,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether the Plan of Allocation of Settlement proceeds should be approved by the Court as fair, reasonable, and adequate; and (3) the reasonableness of Lead Counsel’s request for an award of attorneys’ fees and expenses incurred in connection with this Litigation, together with interest thereon.

If you purchased or otherwise acquired Corinthian common stock between October 30, 2007 and August 19, 2010, inclusive, your rights may be affected by this Litigation and the Settlement thereof. If you have not received a detailed Notice of Proposed Settlement of Class Action (“Notice”), and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Corinthian Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 30225, College Station, TX 77842-3225, by calling toll-free 1-866-683-9354, or by downloading this information at www.corinthiancollegessecuritieslitigation.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 by mail postmarked no later than November 2, 2017, or submitted electronically no later than November 2, 2017, at www.corinthiancollegessecuritieslitigation.com, establishing that you are entitled to a recovery. You will be bound by any order and final judgment rendered in the Litigation unless you request to be excluded from the Class. If you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked no later than September 1, 2017, in the manner and form explained in the detailed Notice referred to above.

Any objection to the Settlement, the Plan of Allocation, and/or Lead Counsel’s request for an award of attorneys’ fees and expenses must be filed with the Court and received by counsel listed below no later than September 11, 2017.

               

Court:

Lead Counsel:

CLERK OF THE COURT ROBBINS GELLER RUDMAN
UNITED STATES DISTRICT COURT & DOWD LLP
CENTRAL DISTRICT OF CALIFORNIA JEFFREY D. LIGHT
WESTERN DIVISION 655 West Broadway, Suite 1900
312 North Spring Street, Room G-8 San Diego, CA 92101
Los Angeles, CA 90012
 

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

                       
DATED: July 7, 2017 BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
WESTERN DIVISION
 

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Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson, 800-449-4900

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