Concord Camera Corp. in Class Action Lawsuit
A class action lawsuit has been filed in the United States District Court for the Southern District of Florida on behalf of all person who purchased the common stock of IRA B. Lampert, Harlan Press, Concord Camera Corp. between January 18, 2001 through and including June 22, 2001.
If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release no later than February 20, 2007, establishing that you are entitled to recovery. If you purchased Concord Camera common stock during the Class Period, you will be deemed to be a Member of the Class unless you expressly requested to be excluded from the Class.
A hearing will be held on January 26, 2007, at 9:00 a.m., before the Honorable Cecilia M. Altonaga, United States District Judge, Southern District of Florida, 301 North Miami Avenue, 4th Floor, Miami, Florida 33128, for the purpose of determining whether: (1) the proposed settlement of the claims in the Litigation for the sum of $1.5 million in cash, plus interest and other income earned thereon since the creation of the Settlement Fund, should be approved by the Court as fair, just, reasonable, and adequate; (2) thereafter, this Litigation should be dismissed with prejudice as set forth in the Stipulation of Settlement dated as of October 23, 2006 (the “Stipulation”); (3) the Plan of Allocation is fair, just, reasonable, and adequate and therefore should be approved; and (4) the application of Lead Counsel for the payment of attorneys’ fees and reimbursement of costs and expenses, and the reimbursement of the Class Representatives’ expenses, incurred in connection with this Litigation should be approved. (All terms herein are as defined in the Notice of Pendency and the Stipulation of Settlement on file with the Court).
Filed under Class Action, General Law
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