Proposed Settlement Reached in Class Action Involving Lime Energy Company
CHICAGO, Feb. 12, 2014
CHICAGO, Feb. 12, 2014 /PRNewswire-USNewswire/ --The following is being
released by the law firm of Pomerantz LLP in Satterfield v. Lime Energy Co.,
No. 1:12-cv-05704 (N.D. Ill).
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION, MOTION FOR ATTORNEYS'
FEES AND EXPENSES, AND FINAL APPROVAL HEARING
To: All persons and entities that purchased or otherwise acquired Lime Energy
Co. ("Lime") securities (stock symbol: LIME) during the period from May 14,
2008 through December 27, 2012, both dates inclusive (the "class period").
Excluded from the Class are Defendants, all current and former directors and
officers of Lime during the Class Period, members of their families and their
legal representatives, heirs, successors or assigns and any entity in which
Defendants have or had a controlling interest.
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 Illinois, that a settlement of the above-captioned class action
has been proposed. A hearing will be held on May 13, 2014, at 12:30 p.m.,
before the Honorable Sara L. Ellis, United States District Judge, at the
courthouse for the United States District Court, Northern District of
Illinois, Everett McKinley Dirksen United States Courthouse, Courtroom 1719,
219 South Dearborn Street, Chicago, Illinois 60604, for the purpose of
determining, among other things: (1) whether a Settlement Class should be
certified for purposes of the Settlement and whether Class Plaintiffs and
their counsel have adequately represented the Class Members; (2) whether the
proposed Settlement of the Class's claims against the Defendants for
$2,500,000.00 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 the Lead Plaintiffs' application for
reimbursement of costs and expenses should be granted.
If you purchased or otherwise acquired Lime Securities between May 14, 2008,
and December 27, 2012, both dates inclusive, your rights may be affected by
this Action and the Settlement thereof. If you have not received the detailed
Notice Of Proposed Settlement Of Class Action, Motion For Attorneys' Fees And
Expenses, And Final Approval Hearing (the "Notice") and Proof of Claim and
Release Form, you may obtain them free of charge by contacting the Claims
Administrator, by mail at: Satterfield v. Lime Energy Co., c/o Rust
Consulting, Inc., P. O. Box 8095, Faribault, MN 55021- 9495; by telephone at:
1-877-872-3809; or by visiting the Settlement website
If you are a member of the Class and wish to share in the Settlement money,
you must submit a Proof of Claim no later than June 12, 2014 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 by no later than April 29, 2014.
Any objections to the Settlement, Plan of Allocation or attorney's fees and
expenses must be filed and served in accordance with the procedures set forth
in the Notice no later than April 29, 2014.
Inquiries, other than requests for the Notice, may be made to Lead Counsel for
Leigh Handelman Smollar, Esq.
10 South La Salle Street, Ste. 3505
Chicago, IL 60603
INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE CLERK'S OFFICE, THE
DEFENDANTS, OR DEFENDANTS' COUNSEL
DATED: January 28, 2014BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS
SOURCE Rust Consulting
Contact: Rust Consulting, 877-872-3809
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