|  | | 2011 News and Press Releases | | |
SETTLEMENT NEWS:
Kahn Swick & Foti, LLC Announces Class Action Settlement on Behalf of Purchasers of Publicly-Traded Common Stock of Superior Offshore International, Inc. -- DEEP
Staff Writer
Globe Newswire. February 2, 2011
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EXCERPT: 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 10, 2011, at 9:30 a.m., before the Honorable Nancy F. Atlas at the United States Courthouse, 515 Rusk Street, Room 9015, Houston, Texas 77002, for the purpose of determining: (1) whether the proposed Settlement for the sum of $1,900,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, after the hearing, this Action should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation dated as of January 3, 2011; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; (4) whether the application of Lead Counsel for the award of attorneys' fees and reimbursement of expenses incurred in this Action should be approved; and (5) whether the application of Lead Plaintiff[1] Charles Ognar for the reimbursement of reasonable time and expenses should be approved.
If you purchased or otherwise acquired (including as a beneficiary) the publicly-traded common stock of Superior Offshore between April 20, 2007, and April 25, 2008, inclusive, your rights may be affected by the Settlement of this Action. |
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