New York, United States
Spector Roseman, Milberg Weiss, and Cohen Milstein Announce the Proposed Settlement of a Securities Class Action Lawsuit against Chicago Bridge & Iron Co. N.V. and Certain of Its Officers and Directors for $10.5 Million in Cash and the Implementation of Certain Corporate Governance Provisions.
In the United States District Court for the Southern District of New York, in Welmon v. Chicago Bridge & Iron Co. N.V., et al., Case No. 06-CV-01283 (JES), a summary notice has been issued as follows:
Summary Notice of Pendency of Class Action, Proposed Settlement and Settlement Hearing
To: all persons who purchased the securities of Chicago Bridge & Iron Co. N.V. ("CB&I") during the period March 9, 2005 through February 3, 2006, inclusive, and who were damaged thereby (the "Settlement Class").
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 Southern District of New York, that the above-captioned action has been certified as a class action and that a settlement for $10.5 million and CB&I's implementation of certain corporate governance provisions has been proposed. A hearing will be held before the Honorable John E. Sprizzo in the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, New York 10007-1312, at 3:00 p.m., on June 3, 2008 to determine whether the proposed settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the application of Plaintiffs' Co-Lead Counsel for attorneys' fees and reimbursement of expenses.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Settlement Fairness Hearing and a Proof of Claim form, you may obtain copies of these documents by contacting the Claims Administrator:
Chicago Bridge & Iron Co. Securities Litigation Settlement
c/o Complete Claim Solutions, LLC
Claims Administrator
Post Office Box 24789
West Palm Beach, FL 33416
(877) 567-4298
www.chicagobridgesecuritiessettlement.com
Inquiries, other than requests for the forms of Notice and Proof of Claim, may be made to Plaintiffs' Co-Lead Counsel:
Robert M. Roseman, Esq.
Spector Roseman & Kodroff, P.C.
1818 Market Street, Suite 2500
Philadelphia, PA 19103
Telephone: (215) 496-0300
Barry A. Weprin, Esq.
Milberg Weiss LLP
One Pennsylvania Plaza
New York, NY 10119-0165
Telephone: (212) 594-5300
Mark S. Willis, Esq.
Cohen, Milstein, Hausfeld & Toll, P.L.L.C.
1100 New York Avenue, N.W.
Suite 500, West Tower
Washington, D.C. 20005
Telephone: (202) 408-4600
To participate in the Settlement, you must submit a Proof of Claim no later than June 26, 2008. If you are a Settlement Class Member and do not exclude yourself from the Settlement Class, you will be bound by the Order and Final Judgment of the Court. To exclude yourself from the Settlement Class, you must submit a request for exclusion postmarked no later than May 8, 2008. Any objections to the Settlement must be filed by May 8, 2008. If you are a Settlement Class Member and do not submit a proper Proof of Claim, you will not share in the Settlement but you nevertheless will be bound by the Order and Final Judgment of the Court.
Further information may be obtained by contacting the Claims Administrator.
By Order of the United States District Court for the Southern District of New York.
Source: Business Wire (Business Wire India)