Nasdaq GlobeNewswire

Amended Summary Notice of Proposed Settlement of The Altair Nanotechnologies, Inc. Shareholder Derivative Litigation

Del

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK


In re Altair Nanotechnologies Shareholder 
Derivative Litigation



CASE NO.: 14-CV-09418-TPG-HBP

RENO, Nev., March 17, 2017 (GLOBE NEWSWIRE) -- PLEASE BE ADVISED that Plaintiffs and the Settling Defendants have reached a settlement (the “Settlement”) to resolve the issues raised in the above-captioned consolidated derivative action (“Action”) (capitalized terms are defined in the Stipulation of Settlement dated July 22, 2016, and Amendment No. 1 to the Stipulation, dated January 18, 2017 (collectively, the “Settlement Stipulation”)).

PLEASE BE FURTHER ADVISED that pursuant to an Order of the United States District Court for the Southern District of New York (the “Court”), a hearing (the “Settlement Hearing”) will be held before the Honorable Thomas P. Griesa in the United States District Court for the Southern District of New York, 500 Pearl Street, Courtroom 26B, New York, New York 10007, at 2:00 p.m. on August 10, 2017, to determine whether (i) the proposed settlement should be approved by the Court as fair, reasonable, adequate, and in the best interests of Altair Nanotechnologies, Inc. (“Altair” or the “Company”) and Altair shareholders; (ii) the Action should be dismissed with prejudice and all Released Claims against the Released Persons should be released and extinguished; (iii) the Court should award attorneys’ fees and expenses to Plaintiffs’ Counsel and incentive awards to Plaintiffs; and (iv) to consider such other matters as may properly come before the Court. The Settlement Hearing may be continued by the Court at the Settlement Hearing, or at any adjourned session thereof without further notice.  The Action and Settlement address claims alleging that certain current and former directors and officers of Altair breached their fiduciary duties by failing to implement and/or maintain adequate internal controls over the Company’s operations and disclosures, by making or approving false statements to the Company’s shareholders, by grossly mismanaging the Company, and by wasting Altair’s assets by causing the Company to incur significant potential liability for legal costs, penalties, fines and/or legal fees in connection with the defense of the Individual Defendants’ unlawful course of conduct. The Action further alleges that certain Defendants were unjustly enriched at the Company’s expense. The Settling Defendants deny and continue to deny all allegations of wrongdoing and deny that Defendants have any liability on the claims asserted in the Action.

As part of the Settlement, Altair has agreed to adopt and/or maintain certain corporate governance reforms as set forth in the Settlement Stipulation. The terms and conditions of the proposed Settlement are set forth in the Settlement Stipulation and Addendum thereto. The Settlement Stipulation and amended Exhibits thereto have been filed with the Court.

Plaintiffs’ Counsel will request Court approval of the agreed upon attorneys’ fees and expenses in an amount not to exceed $150,000, which shall include all attorneys’ fees and costs that may be due any counsel (or anyone else) who has asserted, or participated in the assertion of, derivative claims on behalf of Altair in any court. Any award of fees and expenses will be paid by the Company (or its insurer on its behalf). To date, Plaintiffs’ Counsel have neither received any payment for their services in conducting the Action, nor have counsel been reimbursed for their out-of-pocket expenses incurred. Plaintiffs will also seek Court approval of an incentive payment of up to $1,500 each for their participation and efforts in the Action. This Incentive Amount shall be paid from the attorneys’ fees and expenses awarded by the Court. If the Settlement is approved, the Action will be dismissed with prejudice and the Defendants will be released by Plaintiffs, Altair, and its shareholders from all claims that were or could have been alleged in the Action.

If you are a current Altair Shareholder, you may have certain rights in connection with the proposed settlement. The full and complete Notice along with the Settlement Stipulation  have been made accessible on Altair’s corporate website: http://www.altairnano.com/investors/. If you are a current Altair shareholder and do not take steps to appear in this Action or to object to the Settlement, you will be bound by the Court’s Judgment and Order of Dismissal, you will forever be barred from raising an objection to such Settlement in this or any other action or proceeding, and certain claims that you might have may be released.

PLEASE DO NOT TELEPHONE THE COURT OR ALTAIR REGARDING THIS NOTICE.

Contact:

Karen Werner, kwerner@altairnano.com

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

GSV Asset Management Announces Strategic Investment from HMC Capital-Led Group14.12.2017 21:03Pressemelding

WOODSIDE, Calif. and NEW YORK, Dec. 14, 2017 (GLOBE NEWSWIRE) -- GSV Asset Management, LLC ("GSV"), a modern merchant bank that identifies, advises, and invests in the fastest growing, most dynamic companies in the world - the Stars of Tomorrow - today announced a strategic investment from a group led by HMC Capital ("HMC"), a leading Latin American advisory and investment firm. While terms of the deal were not disclosed, the investment will result in a minority ownership interest for the HMC-led group in GSV Asset Management. Proceeds will be used to enhance GSV's ongoing investment activities, as well as to accelerate its strategic expansion into new business areas and geographies. "We are very excited to partner with HMC Capital, a multi-billion dollar asset manager that brings a range of complimentary capabilities to GSV Asset Management," said Michael Moe, founder of GSV. "GSV stands for Global Silicon Valley and our alliance with HMC reflects our shared commitment t

TrueCommerce Datalliance Releases Third 2017 Update for Vendor Managed Inventory Platform14.12.2017 19:28Pressemelding

Latest Software Update Enhances Browser, Productivity Experience CINCINNATI, Dec. 14, 2017 (GLOBE NEWSWIRE) -- TrueCommerce Datalliance, a leading vendor managed inventory service solutions provider, announced today that it released the third scheduled 2017 update to its VMI platform. The free update is part of TrueCommerce Datalliance's commitment to improving the functionality of its cloud-based supply chain software. Highlights of the release include several improvements to its system architecture and capabilities: Google Chrome is now officially supported Order Worksheets are now easier to view in Internet Explorer One-click access to recently changed or added items Mass Launch Order Preview lists all items suggested or added via allocation "We promise our customers three major updates every year," said Connie Shafer, TrueCommerce Datalliance Producti

ATTO announces support for Apple® Release of the new iMac Pro14.12.2017 18:37Pressemelding

ATTO's line of ThunderboltTM technology enabled products continue to revolutionize connectivity to storage AMHERST, N.Y., Dec. 14, 2017 (GLOBE NEWSWIRE) -- ATTO Technology, Inc., a global leader of storage and network connectivity and infrastructure solutions for data-intensive computing environments, today confirmed their continued commitment to the newly released line of product updates and innovations from Apple. With the powerful and new iMac Pro® now shipping, ATTO continues to support the new offerings from this industry leading manufacturer. "Our deep relationship with Apple over the last 30 years continues to drive our position as a leading force within the Apple community," said Timothy J. Klein, president and CEO at ATTO Technology. The iMac Pro sets a new standard for Apple design and performance and complements why users select ATTO products. As Apple pushes the boundaries of desktop computing, ATTO continues to provide industry leading products that op

Seaborn Networks' CEO Larry Schwartz is Named in List of 100 Most Powerful People in Telecoms Worldwide14.12.2017 16:12Pressemelding

BOSTON, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Seaborn Networks ("Seaborn"), a leading developer-owner-operator of submarine fiber optic cable systems, is pleased to announce that Larry Schwartz, Seaborn's Chairman & CEO, has been named one of the 100 most powerful people in the telecoms industry by Global Telecoms Business ("GTB"). The Power 100 List annually identifies the most influential people in telecoms, content and Internet companies, selecting nominations from readers of the publication. Larry is one of only six people included on the list from the global subsea and data center industries. GTB notes that these top 100 were "those the industry felt were the real power, the real influencers, behind the telecoms sector" and were chosen by the editorial team with input from GTB's readers. In only a few years, Larry has led Seaborn from being a start-up to now being a leading player in the global telecommunications industry, setting precedents with its business model, fina

Mayo Clinic to begin Prospective Clinical Study with Medibio Technology for Expanded Market Opportunities14.12.2017 15:10Pressemelding

Study designed to determine differential diagnosis in depression patients Study designed to monitor patient data following pharmacological treatment SYDNEY, Australia and MINNEAPOLIS, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Medibio Limited (MEB or the Company) (ASX:MEB) (OTCQB:MDBIF), a mental health technology company that has pioneered the use of objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions,  is pleased to announce the first prospective clinical trial with Mayo Clinic under a 5-year Master Clinical Trial Agreement that was signed in October of this year.  This initial study, undertakes the prospective diagnosis and longitudinal monitoring of both unipolar and bipolar depression, along with the depressive subtypes (melancholic and atypical). The primary goal is to characterize longitudinal autonomic, circadian, and

The 1st free cross-border ecommerce library available to online merchants14.12.2017 10:00Pressemelding

A competitive edge instrumental in succeeding in today's dynamic retail world AMSTERDAM, The Netherlands, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Acapture, a global, data-driven omnichannel PSP, has released a complete library of free infographics for merchants, outlining the latest exclusive data for 31 of the world's most exciting ecommerce markets. Online retailers, marketplaces, and other ecommerce merchants are given a competitive edge, instrumental in succeeding in today's dynamic retail world. With each infographic providing actionable stats, facts and figures from a major ecommerce region, illustrated with clear, reader-friendly graphics, the collection is essential reading for all merchants looking to seize current cross-border opportunities. By understanding the preferred local payment methods, the most popular B2B and B2C product categories, top import and export regions, most popular ecommerce sites and much more, merchants can make

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom