If you purchased Noah Education Holdings, Ltd. (“Noah”) American Depository Shares (“ADS”) Pursuant And/Or Traceable to Noah’s Initial Public Offering On Or About October 18, 2007 Through November 19, 2007, Inclusive (“Class Period”), your rights may be affected by a class action lawsuit settlement.
A class action settlement has been reached in a class action lawsuit against Noah Education Holdings, Ltd. (“Noah Education” or “Noah”), Deutsche Bank Securities Inc., CIBC World Markets Corp., and Thomas Weisel Partners LLC (collectively, “Defendants”) in the United States District Court for the Southern District of New York (styled In re Noah Education Holdings Ltd. Securities Litigation, Class Action Case No. 1:08-cv-09203-RJS) alleging, among other things, that Defendants violated of §§11 and 12(a)(2) of the Securities Act of 1933, according to the Noah Education securities class action lawsuit settlement notice.
Noah Education securities class action lawsuit settlement class members reportedly include, unless otherwise excluded, all Persons who purchased Noah ADS pursuant and/or traceable to Noah’s initial public offering during the Class Period.
Under the Noah Education securities class action settlement, $1,750,000 has reportedly been transferred to an interest-bearing escrow account under the control of an Escrow Agent, which cash, plus any accrued interest, constitutes the Settlement Fund. A portion of the settlement proceeds will be used for certain administrative expenses, including costs of printing and mailing Notice, the cost of publishing a newspaper notice, payment of any taxes assessed against the Settlement Fund, and costs associated with the processing of claims submitted. In addition, a portion of the Settlement Fund may be awarded by the Court to Lead Counsel as attorneys’ fees and for expenses incurred in litigating the case. The balance of the Settlement Fund (the “Net Settlement Fund”) will reportedly be distributed according to the Plan of Distribution to Class Members who submit valid and timely Proof of Claim and Release forms (“Proof of Claim”).
For more information on the Noah Education securities class action settlement, visit the Noah Education securities settlement website.
If You Have Thoughts On The Noah Education Securities Class Action Lawsuit Settlement, Share Your Class Action Settlement Comments Below.