NEW YORK, Dec. 19, 2013 /PRNewswire/ -- Lead Counsel
for Plaintiffs has announced, pursuant to Rule 23 of the Federal
Rules of Civil Procedure and an Order of the United States District
Court for the Southern District of New
York, that a hearing in In re Advanced Battery Technologies,
Inc. Securities Litigation, Consolidated Civil Action No. 11 Civ.
2279(CM) will be held on February 21,
2014, at 9:30 a.m., before the
Honorable Colleen McMahon, United States District Judge, at the
courthouse for the United States District Court, Southern District
of New York, Courtroom 14C, Daniel
Patrick Moynihan United States Courthouse, 500 Pearl St.,
New York, New York 10007, for the
purpose of determining, among other things: (1) whether the
proposed Settlement of the Settlement Class's claims against the
ABAT Defendants for $275,000.00
should be approved as fair, reasonable and adequate; (2) whether
the Plan of Allocation is fair and reasonable and should be
approved; (3) whether the application by Lead Counsel for an award
reimbursing them for a portion of their expenses should be
approved; (4) whether the Lead Plaintiff should be granted a
compensatory award; and (5) whether the Litigation should be
dismissed with prejudice against the ABAT Defendants as set forth
in the Settlement Stipulation filed with the Court.
THE PROPOSED SETTLEMENT CLASS WILL CONSIST OF ALL PERSONS AND
ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED ABAT COMMON STOCK
(STOCK SYMBOLS: ABAT AND GBT) BETWEEN MAY
15, 2007, AND MARCH 29, 2011,
INCLUSIVE. Excluded from the Settlement Class are the ABAT
Defendants and Auditor Defendants, all current and former directors
and officers of ABAT during the Settlement Class Period, and any
family member, trust, company, entity or affiliate controlled or
owned by any of the excluded persons or entities referenced
above.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE,
YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN
THE SETTLEMENT FUND.
If you are a member of the Settlement Class and wish to share in
the Settlement money, you must submit a Proof of Claim and Release
form no later than March 22, 2014
establishing that you are entitled to recovery. As further
described in the Notice of Pendency and Proposed Settlement of
Class Action ("Long Notice"), you will be bound by any judgment
entered in the Litigation, regardless of whether you submit a Proof
of Claim, unless you exclude yourself from the Settlement Class, in
accordance with the procedures set forth in the Long Notice, by no
later than January 31, 2014. Any
objections to the Settlement, Plan of Allocation, or attorney's
expenses must be filed and served, in accordance with the
procedures set forth in the Long Notice, no later than January 31, 2014. The Long Notice is available
by: (1) visiting http://www.berdonclaims.com/; or (2) contacting
the Claims Administrator by phone at: 800-766-3330, by fax at:
516-931-0810, or by mail at: Advanced Battery Technologies, Inc.
Securities Litigation, c/o Berdon Claims Administration LLC, P.O.
Box 9014, Jericho, NY
11753-8914.
Inquiries, other than requests for the Long Notice or Proof of
Claim and Release form, may be made to Lead Counsel for the
Settlement Class at: Pomerantz Grossman
Hufford Dahlstrom & Gross LLP, Murielle J. Steven Walsh, Esq., 600 Third
Avenue, New York, NY 10016,
Telephone: 212-661-1100; Toll-free: 888-476-6529.
INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE CLERK'S
OFFICE, THE ABAT DEFENDANTS, OR ABAT DEFENDANTS' COUNSEL.
BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN
DISTRICT OF NEW YORK.
CONTACT: Murielle J. Steven Walsh
Pomerantz
Grossman Hufford Dahlstrom & Gross LLP
212-661-1100
mjsteven@pomlaw.com
SOURCE Berdon Claims Administration LLC