Notice of Pendency and Settlement of Class Action on Behalf of Those Who Purchased or Otherwise Acquired the Common Stock of Industrial Enterprises of America, Inc. Announced by The Rosen Law Firm, P.A.

Notice of Pendency and Settlement of Class Action on Behalf of Those Who Purchased or Otherwise Acquired the Common Stock of Industrial Enterprises of America, Inc. Announced by The Rosen Law Firm, P.A. - 4/30/2009

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HEADLINES \| SETTLEMENTS AND DISMISSALS \| COURT FILINGS LINKS TO OTHER NEWS \| NEWS ARCHIVE	HEADLINES ARCHIVED SETTLEMENTS AND DISMISSALS ARCHIVED

SETTLEMENT NEWS:

Notice of Pendency and Settlement of Class Action on Behalf of Those Who Purchased or Otherwise Acquired the Common Stock of Industrial Enterprises of America, Inc. Announced by The Rosen Law Firm, P.A.
Staff Writer - The Rosen Law Firm

Market Wire. April 30, 2009
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EXCERPT: The Rosen Law Firm, P.A. Announces the Notice of Pendency and Settlement of Class Action Involving Industrial Enterprises of America, Inc. (PINKSHEETS: IEAM). […] Summary Notice Of Pendency And Settlement Of Class Action To All Persons Who Purchased Or Otherwise Acquired the common stock ("Stock") of Industrial Enterprises of America, Inc. ("IEAM") during the period from December 4, 2006 though and including November 7, 2007 (the "Class Period") and were damaged thereby. […] You Are Hereby Notified, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the above Court, that a hearing will be held on July 29, 2009 at 10:00 a.m., in Courtroom 15D, United States District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007-1312 to determine: (1) whether this Litigation should be certified as a class action for the purposes of settlement; (2) whether the proposed settlement (the "Settlement") of the Litigation for $3,800,000 plus accrued interest (the "Settlement Amount") should be approved by the Court as fair, reasonable, and adequate; (3) whether the motion of Lead Plaintiffs' Counsel for an award of attorneys' fees, not to exceed one-third the Settlement Amount, and reimbursement of reasonable expenses, not to exceed $75,000 should be approved; and (4) whether the Litigation should be dismissed with prejudice.

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