I'm loathe to suggest that this humble blog has the power to move mountains, but earlier this week, I suggested that class counsel should strongly consider issuing press releases to publicize the settlement of securities class actions.
Today, not one, but two different such notices popped up.
The first was issued in the In Re DVI, Inc. Securities Litigation, and announced a group of partial settlements valued at $2,885,000 in cash.
The DVI litigation is pending in the United States District Court for the Eastern District of Pennsylvania before Judge Legrome D. Davis.
Judge Davis had previously appointed the Cedar Street Fund and the Cedar Street Offshore Fund, and an individual investor, Kenneth Grossman as lead plaintiff, and Krislov & Associates, Ltd. and Chimicles & Tikellis LLP as lead and liaison counsel, respectively.
Judge Davis' opinion appointing lead plaintiff and lead counsel can be found here.
The second was issued in the Allou Health Care, Inc. litigation, and announced a settlement with the outside director defendants for $300,000 and "certain other consideration."
The Allou litigation is pending in the United States District Court for the Eastern District of New York before Judge Joanna Seybert.
William D. Witter Partners, LLP, David P. Herpst and David Hust were previously appointed lead plaintiff and Abbey Spanier Rodd Abrams & Paradis LLP was appointed lead counsel.