The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of Active Power, ...
January 23 2015 - 8:00AM
The Rosen Law Firm, P.A. announces that the United States District
Court Western District of Texas has approved the following
announcement of a proposed class action settlement that would
benefit purchasers of common stock of Active Power, Inc.
(Nasdaq:ACPW):
SUMMARY NOTICE OF CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE
PUBLICLY TRADED COMMON STOCK OF ACTIVE POWER, INC. BETWEEN FEBRUARY
19, 2013 AND SEPTEMBER 5, 2013
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United
States District Court for the Southern District of Texas, that a
hearing will be held on May 15, 2015 at 10:00 a.m. before the
Honorable Sam Sparks, United States District Judge of the Western
District of Texas, 501 West Fifth Street, Courtroom 2, Austin,
Texas 78701 (the "Settlement Hearing"), for the purpose of
determining: (1) whether the proposed Settlement consisting of the
sum of $1,500,000 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 one third of the Settlement, reimbursement of expenses of
not more than $40,000, and an incentive payment of no more than
$10,000 to lead plaintiffs, should be approved; and (4) whether the
Litigation should be dismissed with prejudice.
If you purchased common stock of Active Power, Inc. ("Active
Power" or the "Company") between February 19, 2013 and September 5,
2013, both dates 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 ("Notice") and a
copy of the Proof of Claim and Release, you may obtain copies by
writing to Active Power, Inc. Securities Litigation, c/o Strategic
Claims Services, 600 N. Jackson St., Ste. 3, P.O. Box 230, Media,
PA 19063 (866-274-4004 (Tel) 610-565-7985 (Fax);
info@strategicclaims.net), 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 March
25, 2015, 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 so that it is received no later than April
10, 2015, in the manner and form explained in the detailed Notice
to the Claims Administrator.
Any objection to the Settlement, Plan of Allocation, or the
Plaintiffs' Counsels' request for an award of attorneys' fees and
reimbursement of expenses must be in the manner and form explained
in the detailed Notice and received no later than April 24, 2015,
to each of the following:
Clerk of the Court United States District
Court Western District of Texas - Austin Division 501Fifth Street,
Suite 1100 Austin, TX 78701 |
Laurence M. Rosen, Esq. THE ROSEN LAW FIRM,
P.A. 275 Madison Avenue, 34th Floor New York, NY 10016
Tel.: 212-686-1060 Fax: 212-202-3827 Lead Counsel |
Paul R. Bessette, Esq. KING& SPALDING LLP
401 Congress Avenue, Suite 3200 Austin, Texas 78701 Telephone:
(512) 457-2000 Fax: (512) 457-2100 Counsel for Defendants
Active Power, Inc., Doug Milner, and Steven R. Fife |
If you have any questions about the Settlement, you may call or
write to Plaintiffs' Counsel:
Laurence M. Rosen, Esq. Jonathan Horne, Esq. THE ROSEN LAW FIRM,
P.A. 275 Madison Avenue, 34th Floor New York, NY 10016
Tel.: 212-686-1060 Fax: 212-202-3827
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE
REGARDING THIS NOTICE.
Dated: JANUARY 7, 2015
BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE WESTERN
DISTRICT OF TEXAS