This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Proposed Settlement Reached In Class Action Involving Lime Energy Company Securities

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 www.LimeEnergySettlement.com.

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 the Class:

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.91 +93.33 0.53%
S&P 500 2,081.34 +12.58 0.61%
NASDAQ 4,997.4590 +5.5190 0.11%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs