|  | | 2007 News and Press Releases | | |
SETTLEMENT NEWS:
The Law Firms of Lerach Coughlin Stoia Geller Rudman & Robbins LLP Announce a Proposed Settlement Hearing Regarding aaiPharma, Inc. Class Action
Staff Writer
PR Newswire. July 25, 2007
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EXCERPT: YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of North Carolina, Southern Division, that a hearing will be held on October 2, 2007, at 10:00 a.m., before the Honorable James C. Dever III, United States District Judge, at the Alton Lennon Federal Building, Two Princess Street, Wilmington, North Carolina, for the purpose of determining: (1) whether the proposed partial settlement of the claims in the Litigation against the Settling Defendants for the sum of $7,550,000 in cash, plus accrued interest, should be approved by the Court as fair, just, reasonable, and adequate; (2) whether, thereafter, this Litigation should be dismissed with prejudice as set forth in the Stipulation of Partial Settlement dated as of February 23, 2007 (the "Stipulation"); (3) whether the Plan of Allocation is fair, just, reasonable, and adequate and therefore should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and reimbursement of costs and expenses and the reimbursement of the Lead Plaintiff's expenses incurred in connection with this Litigation should be approved. |
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