The Consolidated Complaint for Violations of the Securities Laws dated February 12, 2007 (the “Complaint”) filed in the Action generally alleges, among other things, that Defendants issued false and misleading press releases and other statements regarding Host America’s financial and operational condition prior to and during the Class Period in a scheme to artificially inflate the value of Host America’s Securities, and/or sold Host America Securities during the Class Period while in possession of material non-public information.
The Complaint further alleges that the Class Plaintiffs and other Class Members purchased Host America Securities during the Class Period at prices artificially inflated as a result of the Defendants’ dissemination of materially false and misleading statements regarding Host America, and assert claims under Sections 10(b), 20(a) and 20A of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder.
Settling Defendants deny that they did anything wrong.
The Court directed that everyone who fits this description is a Class Member: All persons who purchased Host America common stock or warrants ("Host America Securities") during the period between July 12, 2005 and July 22, 2005, and were damaged thereby.
To qualify for a payment, you must have submitted a Proof of Claim and Release Form for the Lockhart Settlement postmarked by March 20, 2009 (if you had not previously submitted a Proof of Claim and Release Form in connection with the earlier Host America Settlement).
Exclusions and Objections
The deadline to request exclusion from the Lockhart Settlement was December 19, 2008. The deadline to object to the Lockhart Settlement was January 20, 2009.
For additional information regarding exclusions and objections, please review the Supplemental Notice (Lockhart) of Pendency of Class Action And Settlement, Motion For Attorneys' Fees and Settlement Fairness Hearing.
A Fairness Hearing was held at 10:00 a.m. on February 26, 2009, at the United States District Court for the District of Connecticut, Abraham Ribicoff Federal Building, 450 Main Street, Hartford, CT 06103, in Courtroom Two. At the Hearing the Court considered whether the Lockhart Settlement is fair, reasonable, and adequate. The Court also decided how much to pay to Plaintiffs’ Lead Counsel. After the Settlement Fairness Hearing, the Court decided to approve the Settlement.
PLEASE NOTE THE FOLLOWING IMPORTANT DATES:
December 19, 2008
Request for Exclusion, postmark Deadline for the Lockhart Settlement|
January 20, 2009
Objection, filing Deadline for the Lockhart Settlement|
February 26, 2009
at 10:00 a.m.
Fairness Hearing for the Lockhart Settlement|
March 20, 2009
Proof of Claim and Release Form, postmark Deadline for the Lockhart Settlement|