The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of ForceField Energy, Inc. -- FNRG

NEW YORK, Oct. 16, 2017 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of ForceField Energy, Inc. (OTCMKS:FNRG):

SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT

TO:     ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED FORCEFIELD ENERGY, INC. COMMON STOCK FROM AUGUST 20, 2013 TO APRIL 20, 2015, INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on February 8, 2018, at 11:00 a.m. before the Honorable Naomi Reice Buchwald, United States District Judge of the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Court Room 21A, New York, New York 10007, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $414,500, plus the amount left in the Additional Settlement Amount, which, if monies remain in the Additional Settlement Amount, will be distributed at a later date, 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 of Lead Counsel for an award of attorneys’ fees of up to one-third of the Settlement Amount, plus up to one-third of the Additional Settlement Amount, if applicable, reimbursement of expenses of not more than $25,000, and an incentive payment of no more than $1,000 in aggregate, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement dated July 26, 2017 (the “Settlement Stipulation”).

If you purchased ForceField Energy, Inc. (“ForceField”) common stock during the period from August 20, 2013 and April 20, 2015, both dates inclusive (the “Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in ForceField common stock. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to or calling the Claims Administrator: ForceField Energy Inc. Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 3, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; info@strategicclaims.net, or going to the website, www.strategicclaims.net. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form postmarked no later than December 5, 2017 to the Claims Administrator, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim. 

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than January 18, 2018, in the manner and form explained in the Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.

Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than January 18, 2018, by each of the following:

Clerk of the Court
United States District Court
Southern District of New York
500 Pearl Street
New York, NY 10007

LEAD COUNSEL:

Jacob A. Goldberg, Esq.
Gonen Haklay, Esq.
THE ROSEN LAW FIRM, P.A.
101 Greenwood, Suite 440
Jenkintown, Pennsylvania 19046

COUNSEL FOR DEFENDANTS FORCEFIELD ENERGY, INC., DAVID NATAN, AND JASON WILLIAMS:

Martin H. Kaplan, Esq.
GUSRAE KAPLAN NUSBAUM PLLC
120 Wall Street, 25th Floor
New York, New York 10005

COUNSEL FOR DEFENDANTS DREAMTEAMGROUP AND MISSIONIR:

Jacob S. Frenkel, Esq.
DICKINSON WRIGHT PLLC
1825 Eye Street, Suite 900
Washington, C.C. 20006

COUNSEL FOR DEFENDANTS ROBERT GOLDMAN AND GOLDMAN SMALL CAP RESEARCH:

William S. Heyman, Esq.
LAW OFFICE OF WILLIAM S. HEYMAN
201 N. Charles Street, Suite 500
Baltimore, MD 21201

If you have any questions about the Settlement, you may call or write to Lead Counsel:

Jacob A. Goldberg, Esq.
Gonen Haklay, Esq.
THE ROSEN LAW FIRM, P.A.
101 Greenwood, Suite 440
Jenkintown, Pennsylvania 190466
Tel.: 215-600-2817

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

Dated: September 26, 2017

__________________________________
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK