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TMCNet:  Hausfeld LLP Announce a Class Action Lawsuit Against Siemens Hearing Instruments, Inc.

[August 29, 2014]

Hausfeld LLP Announce a Class Action Lawsuit Against Siemens Hearing Instruments, Inc.

WASHINGTON --(Business Wire)--

The following statement is being issued by Hausfeld LLP regarding the HearUSA Securities Litigation.

UNITED STATES DISTRICT COURT, DISTRICT OF NEW JERSEY

MTB INVESTMENT PARTNERS, LP, on behalf of itself and all others similarly situated, Plaintiff, v. SIEMENS HEARING INSTRUMENTS, INC., Defendant. Case No. 2:12-cv-00340-SDW-MCA

TO: ALL PERSONS WHO PUBLICLY SOLD OR OTHERWISE DISPOSED OF COMMON STOCK OF HEARUSA, INC. ("HEARUSA COMMON STOCK") BETWEEN JANUARY 18, 2011 AND JULY 31, 2011, INCLUSIVE (THE "CLASS PERIOD")

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the District of New Jersey, a hearing will be held on December 4, 2014, at 2:00 p.m., before the Honorable Madeline Cox (News - Alert) Arleo, at the United States District Court, Martin Luther King Building and United States Courthouse, 50 Walnut Street, Newark, NJ 07101, for the purpose of determining: (1) whether the proposed settlement of this action for the sum of Three Million, Six Hundred Thousand Dollars ($3,600,000.00) in cash, and fifty (50) percent of all notice and administration costs up to Two Hundred Thousand Dollars ($200,000.00) should be approved as fair, reasonable, and adequate to the Class; (2) whether, thereafter, this action should be dismissed with prejudice against Defendant as set forth in the Stipulation of Settlement dated as of July 1, 2014; (3) whether the proposed plan to distribute the settlement proceeds (the "Plan of Distribution") is fair, reasonable, and adequate, and therefore should be approved; and (4) the reasonableness of the application of Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with this action, together with interest thereon, and payment to Lead Plaintiff for its expenses incurred representing the Class.

If you sold or otherwise disposed of HearUSA Common Stock during the period January 18, 2011 through July 31, 2011, inclusive, your rights may be affected by this action and the settlement thereof. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to HearUSA Securities Litigation, Claims Administrator, P.O. Box (News - Alert) 58818, Philadelphia, PA 19102-8818, or by downloading this information at www.hearusasecuritieslitigation.com. 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 form postmarked no later than October 27, 2014, establishing that you are entitled to a recovery. You will be bound by any judgment rendered in this action unless you request to be excluded, in writing, to the above address, postmarked by October 27, 2014.

Any objection to any aspect of the settlement must be filed with the Clerk of the Court no later than October 9, 2014, as follows:




CLERK OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
Martin Luther King Building
and United States Courthouse
50 Walnut Street, Room 4015
Newark, NJ 07101

and received by the following no later than October 27, 2014:

HAUSFELD LLP

WILLIAM P. BUTTERFIELD

BRIAN A. RATNER

TIMOTHY S. KEARNS

NATHANIEL C. GIDDINGS

1700 K St., N.W., Suite 650

Washington, D.C. 20006

Lead Counsel for Plaintiffs

  SCHNADER HARRISON SEGAL & LEWIS LLP

LISA J. RODRIGUEZ

Woodland Falls Corporate Park

220 Lake Drive East, Suite 200

Cherry Hill, NJ 08002-1165

Liaison Counsel for Plaintiffs

 
 

KIRKLAND & ELLIS LLP

JAMES GILLESPIE, P.C.

BRANT W. BISHOP, P.C.

655 15th St., N.W.

Washington, D.C. 20005

Lead Counsel for Defendant Siemens (News - Alert) Hearing

Instruments, Inc.

BLANK ROME LLP

STEPHEN ORLOFSKY

DAVID C. KISTLER

301 Carnegie Center

3rd Floor

Princeton, NJ 08650

Liaison Counsel for Defendant Siemens Hearing

Instruments, Inc.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

DATED: August 22, 2014

BY ORDER OF THE COURT, UNITED STATES DISTRICT COURT, DISTRICT OF NEW JERSEY


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