Izea Securities Settelment What Did People Get
OKLAHOMA CITY, May 27, 2019 /PRNewswire/ -- The following statement is being issued by Federman & Sherwood and The Rosen Law Firm, P.A.:
UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
| JULIAN PEREZ, individually and on behalf of all others similarly situated, | |
| Plaintiffs, | |
| | Case No. 2:18-cv-02784-SVW-GJS |
| v. | |
| | |
| IZEA, INC., EDWARD MURPHY, and LEANN C. HITCHCOCK. | |
| Defendants. | |
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT
OF CLASS ACTION AND SETTLEMENT HEARING THEREON
TO: ALL PERSONS WHO PURCHASED THE COMMON STOCK OF IZEA, Inc. ("IZEA") DURING THE PERIOD MAY 15, 2015 THROUGH APRIL 3, 2018, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Central District of California, that Lead Plaintiffs in the above-captioned litigation (the "Action") have reached a proposed settlement with Defendants for $1,200,000.00 in cash, plus interest earned (the "Settlement").
A hearing will be held on September 23, 2019, at 1:30 p.m., before the Honorable Stephen V. Wilson, United States District Judge, in Courtroom 10A of the United States District Court, Central District of California, at 350 W. 1st Street, Los Angeles, CA, 90012 for the purpose of determining: (1) whether the Court should certify the Settlement Class for purposes of the Settlement pursuant to Federal Rule of Civil Procedure 23; (2) whether the proposed Settlement of $1,200,000.00 in cash, plus any return thereon, should be approved by the Court as fair, just, reasonable, and adequate; (3) whether the Action should be dismissed with prejudice as against Defendants and Defendants' Released Parties as set forth in the Stipulation of Settlement dated as of April 15, 2019; (4) whether the Plan of Allocation is fair, reasonable, and adequate and, therefore, should be approved; (5) whether the application of Plaintiffs' Counsel for the payment of attorneys' fees and reimbursement of costs and expenses incurred in connection with the Action should be approved; and (6) such other matters as the Court may deem appropriate.
If you purchased IZEA's common stock during the period from May 15, 2015 through April 3, 2018, inclusive, your rights may be affected by the settlement of the Action. If you have not received a detailed Notice of Pendency and Proposed Settlement (the "Notice") and a copy of the Proof of Claim, you may obtain copies by writing to IZEA Securities Settlement c/o KCC Class Action Services, Claims Administrator, P.O. Box 404128, Louisville, KY 40233-4128, or by calling 1-866-680-4835. You may also obtain copies on the internet at www.IZEASecuritiesSettlement.com. Complete information concerning the Action may be obtained from the Court files on this matter.
If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must timely submit a Proof of Claim to the Claims Administrator's address provided above and postmarked no later than August 19, 2019. If you are a member of the Settlement Class and do not submit a proper Claim Form, you will not share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgment or orders entered by the Court.
If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion, at the address above and postmarked no later than September 3, 2019, in the manner and form detailed in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgment or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objection to the proposed Settlement, the Plan of Allocation, and/or Fee and Expense Application must be filed in the manner detailed in the Notice with the Clerk of the Court and delivered to Lead Counsel for Plaintiffs and Counsel for Defendants, such that it is received by each party no later than September 3, 2019, in accordance with the instructions set forth in the Notice.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Any questions should be directed to:
| Claims Administrator: c/o KCC Class Action Services P.O. Box 404128 Louisville, KY 40233-4128 1-866-680-4835 www.IZEASecuritiesSettlement.com | Lead Counsel for Plaintiffs: William B. Federman A. Brooke Murphy FEDERMAN & SHERWOOD 10205 N. Pennsylvania Avenue Oklahoma City, OK 73120 (405) 235-1560 [email protected] [email protected] Phillip Kim THE ROSEN LAW FIRM, P.A. 275 Madison Avenue, 34th Floor New York City, New York 10016 (212) 686-1060 [email protected] |
DATED: May 7, 2019 BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
SOURCE Federman & Sherwood and The Rosen Law Firm, P.A.
Related Links
http://www.rosenlegal.com
Izea Securities Settelment What Did People Get
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