The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Katanga Mining Limited – KATFF

Monday, 05. April 2021 14:00

NEWARK, N.J., April 05, 2021 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the District of New Jersey has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities of Katanga Mining Limited (OTCMKTS: KATFF):

SUMMARY NOTICE OF PENDENCY AND
PROPOSED SECURITIES CLASS ACTION SETTLEMENT

TO:        ALL PERSONS WHO PURCHASED OR ACQUIRED THE PUBLICLY TRADED SECURITIES OF KATANGA MINING LIMITED (“KATANGA”) ON OR THROUGH THE U.S. OTC MARKETS FROM FEBRUARY 11, 2016, THROUGH NOVEMBER 7, 2019, BOTH DATES INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of New Jersey, that a hearing will be held on June 25, 2021, at 9:30 a.m. before the Honorable Claire C. Cecchi, United States District Judge of the District of New Jersey, 50 Walnut Street, Courtroom MLK 5B, Newark, New Jersey 07102 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $1,000,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for attorneys’ fees of up to one-third of the Settlement Amount ($333,333.33) plus a proportionate share of interest accrued on the Settlement Amount, Lead Counsel’s reimbursement of litigation expenses incurred of not more than $40,000, and Award to Plaintiffs of not more than $5,000 each, or $15,000 in total, should be approved; and (4) whether the Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated March 5. 2021 (the “Stipulation”). The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means.

If you purchased or acquired the publicly traded Katanga securities on or through the U.S. OTC Markets from February 11, 2016, through November 7, 2019, both dates inclusive (“Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Katanga securities. You may obtain copies of the detailed Notice of Pendency and Proposed Settlement of Securities Class Action (“Notice”) and the Proof of Claim and Release Form by writing to or calling the Claims Administrator: Katanga Mining Limited Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; info@strategicclaims.net. You can also download copies of the Notice and submit your Proof of Claim and Release Form online at www.strategicclaims.net/katanga/. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form electronically or postmarked no later than May 26, 2021 to the Claims Administrator, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.

If you are a Settlement Class Member and desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than June 4, 2021, in the manner and form explained in the detailed Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Stipulation.

Any objection by a Settlement Class Member to the Settlement, Plan of Allocation, Lead Counsel’s requests for an award of attorneys’ fees and reimbursement of expenses and Award to Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than June 4, 2021, by each of the following:

Clerk of the Court
United States District Court
District of New Jersey
Martin Luther King Building
& U.S. Courthouse
50 Walnut Street
Newark, NJ 07102

LEAD COUNSEL:

THE ROSEN LAW FIRM, P.A.
Brent J. LaPointe
275 Madison Avenue
40th Floor
New York, NY 10016

COUNSEL FOR DEFENDANTS
KATANGA MINING LIMITED, JOHNNY
BLIZZARD, JACQUES LUBBE,
MATTHEW COLWILL, LIAM
GALLAGHER, AND TIM HENDERSON
:

PAUL, WEISS, RIFKIND, WHARTON &
GARRISON LLP
Richard A. Rosen
1285 Avenue of the Americas
New York, NY 10019-6064

COUNSEL FOR DEFENDANTS
GLENCORE PLC AND IVAN

GLASENBERG:

WILMER CUTLER PICKERING HALE
AND DORR LLP

David S. Lesser
7 World Trade Center
250 Greenwich Street
New York, NY 10007

If you have any questions about the Settlement, you may call or write to Lead Counsel:

THE ROSEN LAW FIRM, P.A.
Brent J. LaPointe
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
blapointe@rosenlegal.com

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

Dated: March 16, 2021

  __________________________________

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

 


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