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News and Press Releases |
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SETTLEMENT "OR" DISMISSAL:
Summary Notice Of Pendency And Settlement Of Class Action Issued In Re Daimlerchrysler AG Securities Litigation
By: Staff Writer
PR Newswire. October 17, 2003
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EXCERPT: The following statement is being issued by Entwistle & Cappucci LLP, Grant & Eisenhofer, P.A., Bernstein Litowitz Berger & Grossmann LLP and Barrack Rodos & Bacine regarding DaimlerChrysler AG Securities Litigation. … Master File No. 00-993 (JJF) … YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, of the pendency of the above-captioned class action (the "Action") and that a settlement for USD $300,000,000 in cash (the "Settlement") has been proposed. If approved, the Settlement will resolve all claims of Class Members against the Defendants in this Action. Details of the Settlement and the allocation of Settlement proceeds to Class Members can be found in the Notice of Pendency and Settlement of Class Action. A hearing will be held on December 5, 2003 at 1:00 p.m. before the Honorable Joseph J. Farnan, Jr. at the United States District Court for the District of Delaware, J. Caleb Boggs Federal Building, 844 N. King Street, Wilmington, DE 19801, for the purpose of: (i) determining whether the Settlement should be approved as fair, reasonable and adequate to the Class Members, and whether the Final Judgment and Order of Dismissal (the "Judgment") should be entered; (ii) determining whether the proposed plan of allocation is fair and reasonable and should be approved; and (iii) considering Lead Counsel's application for an award of attorneys' fees and payment of costs and expenses.
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