The information contained on this web page is only a summary of information presented in more detail in the Notice of Proposed Settlement of Class Action and Settlement Fairness Hearing, and Motion for Attorneys’ Fees and Reimbursement of Expenses (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional details.
Your Legal Rights Are Affected Whether You Act Or Do Not Act. Please read the Notice carefully.
If you purchased or otherwise acquired AMERICAN DEPOSITORY SHARES (“ADSs”) OF FOCUS MEDIA HOLDING LIMITED (“FOCUS MEDIA” OR “THE COMPANY”) BETWEEN NOVEMBER 20, 2007 THROUGH NOVEMBER 21, 2011, INCLUSIVE (COLLECTIVELY, THE “SETTLEMENT CLASS”), you may be entitled to a payment from a class action settlement.
IMPORTANT DATES AND DEADLINES
SUBMIT A CLAIM FORM
Recieved no later than August 1, 2014
Request received no later than July 17, 2014
OBJECT TO THE SETTLEMENT
Objection received no later than July 17, 2014 and papers filed with 0the Court no later than August 14, 2014
September 4, 2014 at 9:30 a.m.
United States District Court for the Southern District of New York
Receive no payment
The Court’s Settlement Hearing
The Court will hold a Settlement Hearing on September 4, 2014, at the Daniel Patrick Moynihan Courthouse, Courtroom 14C, 500 Pearl Street, New York, New York 10007-1312 at 9:30 a.m. At this hearing, the Honorable Colleen McMahon will consider whether the Settlement is fair, reasonable, and adequate. The Court also will consider the proposed Plan of Allocation for the Net Settlement Fund and the application of Lead Counsel for attorneys’ fees and reimbursement of expenses.
What is this case about?
This Action commenced on December 12, 2011, by the filing of a class action complaint in the United States District Court for the Southern District of New York against Defendants alleging that Defendants violated federal securities laws. The Complaint principally alleges that Defendants misrepresented or omitted material information regarding certain Company acquisitions, write-downs and divestitures of assets, valuations of Company subsidiaries, and the Company’s description of its LCD advertising network and certain related operating data. Focus Media denies the allegations.
The Settlement Benefits
Focus Media has paid $3,700,000.00 (three million seven hundred thousand dollars) in cash into the Settlement Fund. The Settlement Fund, after payment of Court-approved attorneys’ fees and expenses and the costs of claims administration, including the costs of printing and mailing this Notice and the cost of publishing notice (the “Net Settlement Fund”), will be divided among all eligible Settlement Class Members who send in valid claim forms pursuant to the Plan of Allocation described in the Plan of Allocation on Page 9 of the Notice.
The Rights of Class Members
If you are a Class Member, you have the following options:
Submit a Claim Form
If you are a Class Member, to be eligible to share in the distribution of the Settlement proceeds, you must timely submit a valid Claim Form, which can be found here, received no later than August 1, 2014. If you are a Class Member and do not submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
Exclude yourself from the Settlement
If you are a Class Member, but wish to exclude yourself from the Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice, that is received no later than July 17, 2014. If you are a Class Member and do not timely exclude yourself from the Class, you will be bound by any judgments or orders entered by the Court in the Action.
Object to the Settlement
Any objections to the proposed Settlement, Plan of Allocation, or Lead Counsel’s application for attorneys’ fees and reimbursement of expenses must be mailed to the Court, Lead Counsel for the Plaintiffs, and counsel for Defendants in accordance with the instructions set forth in the Notice and received no later than July 17, 2014.
This website and the Notice summarizes the proposed Settlement. For more details regarding this Settlement please reference the Stipulation dated May 13, 2014, or other documents filed in the case under the “Court Documents” link on the left. You may also contact the Claims Administrator or Lead Counsel for further information regarding this Settlement:
Focus Media Holding Limited Securities
c/o A.B. Data, Ltd.
PO Box 170500
Milwaukee, WI 53217-8091
Timothy J. MacFall, Esq.
RIGRODSKY & LONG, P.A.
825 East Gate Boulevard, Suite 300
Garden City, New York 11530
If you have questions, you may call the Focus Media Settlement Help Line at 866-963-9981 or email info@FocusMediaSettlement.com.