Pomerantz LLP and Levi & Korsinsky, LLP Announce Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of TCP International Holdings, Ltd. - TCPIF

NEW YORK, Sept. 15, 2017 /PRNewswire/ -- Pomerantz LLP and Levi & Korsinsky, LLP announce that the United States District Court for the Northern District of Ohio has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of TCP International Holdings, Ltd. (OTCMKTS: TCPIF):

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT, SETTLEMENT FAIRNESS HEARING, AND MOTION FOR AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO: All Persons who purchased or otherwise acquired TCP International Holdings Ltd. ("TCPI") common stock (ticker symbol: TCPI) on the public market between May 9, 2015 and November 5, 2015 (the "Class Period"), inclusive, and were damaged thereby. 

EXCLUDED FROM THE CLASS ARE DEFENDANTS, THE OFFICERS AND DIRECTORS OF TCPI, AND THEIR FAMILIES AND AFFILIATES.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of Ohio, that a hearing will be held on February 1, 2018 at 10:00 a.m., before the Honorable Donald C. Nugent, United States District Judge, in Courtroom 15A  of the United States District Court for the Northern District of Ohio, Carl B. Stokes United States Court House, 801 West Superior Avenue, Cleveland, Ohio, to determine: (1) whether a Settlement Class should be certified for purposes of the Settlement and whether Lead Plaintiff and its counsel have adequately represented the Class Members; (2) whether the proposed Settlement of the Class's claims against the Defendants for $1,100,000.00 should be approved as fair, reasonable and adequate; (3) whether the proposed Plan of Allocation is fair, just, reasonable, and adequate; (4) whether the Court should permanently enjoin the assertion of any claims that arise from or relate to the subject matter of the Action; (5) whether the Action should be dismissed with prejudice against the Defendants as set forth in the Stipulation of Settlement filed with the Court; (6) whether the application by Lead Counsel for an award of attorneys' fees and expenses should be approved; and (7) whether an application for reimbursement of costs and expenses of Lead Plaintiff members should be granted.

If you purchased or otherwise acquired TCPI common stock trading under ticker symbol TCPI during the Class Period, your rights may be affected by this Action and the Settlement thereof.  You may obtain a detailed Notice of Pendency of Class Action and Proposed Settlement, Settlement Fairness Hearing, and Motion for Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice") and Proof of Claim and Release Form, free of charge by contacting the Claims Administrator, by mail at: TCP Int'l Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 3, Media, PA 19063; by telephone at: 866-274-4004; or by visiting the website at: www.strategicclaims.net/TCP.

If you are a member of the Class and wish to share in the Settlement money, you must submit a Proof of Claim postmarked no later than March 5, 2018 establishing that you are entitled to recovery.  As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Class, in accordance with the procedures set forth in the Notice, postmarked by no later than January 12, 2018.  Any objections to the Settlement, Plan of Allocation or attorney's fees and expenses must be filed, in accordance with the procedures set forth in the Notice, to be received no later than January 12, 2018.

Inquiries, other than requests for the Notice, may be made to Lead Counsel for the Class: Leigh Handelman Smollar, Pomerantz LLP, 10 South La Salle Street, Ste. 3505, Chicago, IL 60603, Telephone: 312-377-1181.

INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE
CLERK'S OFFICE, THE DEFENDANTS, OR DEFENDANTS' COUNSEL

DATED: JULY 28, 2017                                     

BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
NORTHERN DISTRICT OF OHIO

The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]

SOURCE Pomerantz LLP