LOS ANGELES, July 12, 2013 LawFuel.com — The Rosen Law Firm, P.A. announces that the United States District Court Central District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of China Century Dragon Media, Inc. (OTCMKTS:CCDM):
SUMMARY NOTICE OF CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED THE PUBLICLY TRADED COMMON STOCK OF CHINA CENTURY DRAGON MEDIA, INC. DURING THE PERIOD FROM FEBRUARY 7, 2011 THROUGH MARCH 21, 2011, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Central District of California, that a hearing will be held on October 7, 2013 at 8:30 a.m. before the Honorable John A. Kronstadt, United States District Judge of the Central District of California, 255 East Temple Street, Los Angeles, CA 90012 (the “Settlement Hearing”) for the purpose of determining: (1) whether the proposed Settlement consisting of the sum of $778,333.33 (of which approximately $518,333.33 is to be paid on behalf of MaloneBailey LLP; $83,334.00 by the parent company of WestPark Capital, Inc.; $45,833.00 by I-Bankers Securities, Inc.; $45,833.000 by Joseph Gunnar & Co., LLC; $25,000.00 by Aegis Capital Corporation; and $60,000.00 by David De Campo) should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the settlement proceeds is fair, reasonable, and adequate; (3) whether the application for an award of attorneys’ fees of 25.7% of the Settlement amount ($200,000) and reimbursement of expenses of not more than $70,000, and an incentive payment of no more than $3,000 each to lead plaintiff and class representatives, should be approved; and (4) whether the Litigation should be dismissed with prejudice with respect to the Released Parties.
If you purchased common stock of China Century Dragon Media, Inc., during the class period from February 7, 2011 through March 21, 2011, inclusive, 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 and a copy of the Proof of Claim and Release, you may obtain copies by writing to China Century Dragon Media, Inc. Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 3 Media, PA 19063 (Tel: 866-274-4004); (Fax: 610-565-7985); (email: [email protected]), or going to the website, www.strategicclaims.net. If you are a member of the Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release postmarked no later than September 16, 2013, establishing that you are entitled to 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 to the Claims Administrator, so that it is received no later than September 6, 2013, in the manner and form explained in the detailed Notice of Pendency and Settlement of Class Action.
Any objection to the Settlement, Plan of Allocation, or the Lead Plaintiff’s Counsel’s request for an award of attorneys’ fees and reimbursement of expenses must be in the manner and form explained in the detailed Notice of Pendency and Settlement of Class Action and received no later than September 17, 2013, to each of the following:
Clerk of the Court Laurence M. Rosen, Esq. Patrick M. Kelly, Esq.
United States District Phillip Kim, Esq. David S. Eisen, Esq.
Central District of THE ROSEN LAW FIRM, P.A. Patricia Ann Golson, Esq.
255 East Temple Street 355 South Grand Avenue, WILSON ELSER MOSKOWITZ
Suite 2450 EDELMAN & DICKER LLP
Los Angeles, CA 90012 Los Angeles, CA 90071 555 South Flower Street,
Los Angeles, CA 90071
Attorney for MaloneBailey
Nathan Dooley, Esq. Legal and Compliance John E. Lawlor, Esq.
COZEN O’CONNOR LLP WestPark Capital 129 Third Street
Financial Services, LLC
601 South Figueroa 1900 Avenue of the Mineola, NY 11501
Street, Suite 3700 Stars, Suite 310
Los Angeles, CA 90017 Los Angeles, CA 90067
Attorney for Joseph
Gunnar & Co., LLC
Attorney for Aegis Counsel for WestPark
Capital Corporation and Capital, Inc. and
I-Bankers Securities, Richard Rappaport
Bruce H. Jackson, Esq.
BAKER & McKENZIE LLP
Two Embarcadero Center,
San Francisco, CA 94111
Attorney for David De
If you have any questions about the Settlement, you
may call or write to Lead Plaintiff’s Counsel:
Laurence M. Rosen,
Phillip Kim, Esq.
THE ROSEN LAW FIRM, P.A.
355 South Grand Avenue, Suite 2450
Los Angeles, CA
Fax: (213) 226-4684
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE
REGARDING THIS NOTICE.
DATED: JULY 2, 2013
BY ORDER OF THE UNITED
DISTRICT COURT FOR THE
CENTRAL DISTRICT OF CALIFORNIA