Bottini & Bottini, Inc. and The Rosen Law Firm, P.A. Announce Proposed Class
Action Settlement on Behalf of Purchasers of Common Stock of Gulf Resources,
Inc. -- GURE
LOS ANGELES, Aug. 15, 2013 (GLOBE NEWSWIRE) -- Bottini & Bottini, Inc. and The
Rosen Law Firm, P.A. announce that the United States District Court Central
District of California Western Division has approved the following
announcement of a proposed class action settlement that would benefit
purchasers of common stock of Gulf Resources, Inc. (Nasdaq:GURE):
SUMMARY NOTICE OF CLASS ACTION SETTLEMENT
TO:ALL PERSONS WHO PURCHASED THE COMMON STOCK OF GULF RESOURCES, INC. DURING
THE PERIOD FROM MARCH 16, 2009 THROUGH APRIL 26, 2011, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District
Court for the Central District of California, that a hearing will be held on
November 4, 2013, at 1:30 p.m. in Courtroom 11 before the Honorable Otis D.
Wright II, United States District Judge of the Central District of California,
312 North Spring Street, Los Angeles, CA 90012 (the "Settlement Hearing") for
the purpose of determining:(1) whether the proposed Settlement consisting of
the sum of $2,125,000 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 for an award of
attorneys' fees of up to $637,500, or thirty percent (30%) of the Settlement
Amount, reimbursement of litigation expenses of no more than $45,000, and an
award to the Lead Plaintiffs not to exceed $6,000, should be approved; and (4)
whether the Litigation should be dismissed with prejudice.
If you purchased common stock of Gulf Resources, Inc., during the class period
from March 16, 2009 through April 26, 2011, inclusive, your rights may be
affected by the Settlement of this action.If you have not received a detailed
Notice of Pendency and Settlement of Class Action ("Notice") and a copy of the
Proof of Claim and Release, you may obtain copies by writing to Gulf
Resources, Inc. Litigation c/o Strategic Claims Services, 600 N. Jackson St.,
Ste. 3 Media, PA 19063 (866-274-4004 (Tel); 610-565-7985 (Fax);
email@example.com), or going to the website, www.strategicclaims.net.
If you are a member of the Class, in order to share in the distribution of the
Net Settlement Fund, you must submit a Proof of Claim and Release no later
than October 21, 2013, establishing that you are entitled to recovery.Unless
you submit a written exclusion request, you will be bound by any judgment
rendered in the Litigation whether or not you make a claim.If you desire to
be excluded from the Class, you must submit a request for exclusion received
no later than October 4, 2013, in the manner and form explained in the
detailed Notice to the Claims Administrator.
Any objection to the Settlement, Plan of Allocation, or the Lead Plaintiff's
Counsel's request for an award of attorneys' fees and reimbursement of
expenses must be in the manner and form explained in the detailed Notice and
received no later than October 14, 2013, to each of the following:
Clerk of the Court Francis A. Bottini, Stephen D. Hibbard,
Jr., Esq. Esq.
United States District Court BOTTINI & BOTTINI, SHEARMAN & STERLING LLP
Central District of 7817 Ivanhoe Avenue, Four Embarcadero
California, Western Division Suite 102 Center, Suite 3800
312 North Spring Street La Jolla, CA92037 San Francisco, CA94111
Los Angeles, CA 90012 Tel: 858- 914-2001 Tel: 415-616-1100
Fax: 858-914-2002 Fax: 415-616-1199
Plaintiffs' Lead Counsel for Gulf
Counsel Resources, Inc.
If you have any questions about the Settlement, you may call or write to Lead
Laurence M. Rosen, Esq.
THE ROSEN LAW FIRM, P.A.
355 South Grand Avenue, Suite 2450
Los Angeles, CA 90071
Francis A. Bottini, Jr., Esq.
BOTTINI & BOTTINI, INC.
7817 Ivanhoe Avenue, Suite 102
La Jolla, CA92037
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
Dated: August 5, 2013
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
CENTRAL DISTRICT OF CALIFORNIA
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