LOS ANGELES, April 13, 2018 (GLOBE NEWSWIRE) —
The afterward is actuality arise pursuant to an Adjustment of the United States District Court for the Central District of California.
IN THE UNITED STATES DISTRICT COURT FOR THE CENTRAL DISTRICT OF CALIFORNIA
KLEINFELDT V. SHARNG ET AL., Case No. 2:16-cv-01547-TJH (AFMx)
NOTICE OF SHAREHOLDER DERIVATIVE ACTION, PROPOSED SETTLEMENT, AND SETTLEMENT HEARING
On March 5, 2018, Natural Health Trends Corp. (the “Company”), in its accommodation as a nominal defendant, entered into a Stipulation of Adjustment (the “Stipulation”) in the actor acquired accomplishments filed in the U.S. District Court for the Central District of California (the “Federal Court”), styled Kleinfeldt v. Sharng et al., No. 2:16-cv-01547 (C.D. Cal.), and the Superior Court of the State of California for the County of Los Angeles (“State Court”), styled Zhou v. Sharng et al., No. BC609412 (collectively, the “Actions”). The Accomplishments advance claims on the Company’s account adjoin assertive accepted and aloft admiral and admiral of the Company.
The Stipulation and the adjustment advised therein (the “Settlement”), including adjournment of all claims with ageism in the Kleinfeldt action, is accountable to approval by the Federal Court, and is accidental on the State Court acceding autonomous adjournment with ageism of the Zhou Action. The proposed Adjustment requires the Company to accept assertive added accumulated babyminding measures and procedures, as categorical in Exhibit A to the Stipulation, and provides for a distinct Fee and Amount Award in the absolute bulk of two hundred fifty thousand dollars ($250,000) to be paid by Defendants’ insurer to Plaintiffs’ Admonition in the Actions. Defendants and the Company accept denied and abide to abjure any and all declared wrongdoing.
This Apprehension is a arbitrary alone and does not alarm all of the capacity of the Stipulation. For abounding capacity of the affairs discussed in this summary, amuse see the abounding Stipulation on the Company’s accumulated website, or acquaintance Plaintiffs’ Admonition at the abode listed below. All capitalized agreement acclimated in this Notice, unless contrarily authentic herein, are authentic as set alternating in the Stipulation.
On April 4, 2018, the Federal Court entered an adjustment preliminarily acknowledging the Stipulation and the Adjustment advised therein, and accouterment for apprehension in a Anatomy 8-K filed with the Securities and Exchange Commission, in a columnist release, and on the Company’s accumulated website (the “Preliminary Approval Order”). The Preliminary Approval Adjustment added provides that the Federal Court will authority a audition (“Final Hearing”) on July 16, 2018 at 10:00 a.m. afore the Honorable Terry J. Hatter, Jr. in Courtroom 9B of the United States District Court for the Central District of California, First Street Federal Courthouse, 350 W. 1st Street, 9th Floor, Los Angeles, CA 90012, pursuant to Federal Rule of Civil Procedure 23.1, to, amid added things: (i) actuate whether the proposed Adjustment is fair, reasonable, adequate, and in the best interests of the Company and its shareholders; (ii) accede any objections to the Adjustment submitted in accordance with the Notice; (iii) actuate whether a Judgment essentially in the anatomy absorbed as Exhibit C to the Stipulation should be entered absolution all claims in the Kleinfeldt Activity with ageism and absolution the Arise Claims adjoin the Arise Persons; (iv) accede the Fee and Amount Award; (v) accede the acquittal to the two Plaintiffs in the Accomplishments of Service Awards in an bulk not to beat $1,000.00 each, which will be adjourned from the Fee and Amount Award; and (vi) accede any added affairs that may appropriately be brought afore the Federal Court in affiliation with the Settlement.
Any NHTC Actor who wishes to article to the fairness, reasonableness, or capability of the Adjustment as set alternating in the Stipulation, and/or to the Fee and Amount Award and/or the Service Awards, may book an objection. An activist charge book with the Federal Court a accounting account of his, her, or its objection(s): (a) acutely advertence the objector’s name, commitment address, daytime blast number, and e-mail abode (if any); (b) advertence that the activist is aghast to the proposed Settlement, the Fee and Amount Award, and/or the Service Awards in Kleinfeldt v. Sharng et al., No. 2:16-cv-01547 (C.D. Cal.); (c) allegorical the reason(s), if any, for anniversary such argument made, including any acknowledged abutment and/or affirmation that such activist wishes to accompany to the Federal Court’s absorption or acquaint in abutment of such objection; and (d) anecdotic and bartering affidavit assuming how abounding shares of NHTC accepted banal the activist endemic as of March 5, 2018, back the activist purchased or contrarily acquired such shares, and affidavit that the activist still owns such NHTC shares.
The activist charge book such objections and acknowledging affidavit with the Clerk of the Court, U.S. District Court Central District of California, Western Division, First Street Federal Courthouse, 350 W. 1st Street Los Angeles, CA 90012, not after than twenty-one (21) canicule above-mentioned to the Final Hearing, and, by the aforementioned date, copies of all such affidavit charge additionally accustomed by anniversary of the afterward persons:
Counsel for Plaintiff:Stuart J. Guber, Esq.FARUQI & FARUQI, LLP101 Greenwood Avenue, Suite 600Jenkintown, PA 19046
Counsel for Defendants:Angela L. Dunning, Esq.COOLEY LLP3175 Hanover StreetPalo Alto, CA 94304
An activist may book an argument on his, her, or its own or through an advocate assassin at his, her, or its own expense. If an activist hires an advocate for purposes of authoritative such argument pursuant to this paragraph, the advocate charge serve a apprehension of actualization on the admonition listed aloft and book such apprehension with the Federal Court no after than twenty-one (21) canicule afore the Final Hearing. Any NHTC actor who does not appropriate book and serve a accounting argument acknowledging with the agreement of this branch shall be accounted to accept waived, and shall be bankrupt from raising, any argument to the Settlement, and any abortive argument shall be barred. Any submissions by the Parties in activity or acknowledgment to objections or in added abutment of the Adjustment shall be filed with the Federal Court no after than seven (7) canicule afore the Final Hearing.
Any activist who files and serves a timely, accounting argument in accordance with the instructions aloft and herein, may arise at the Final Audition either in being or through admonition retained at the objector’s expense. Objectors charge not arise the Final Hearing, however, in adjustment to accept their objections advised by the Federal Court. Appropriate objectors or their attorneys intending to arise at the Final Audition are appropriate to announce in their accounting argument (or in a abstracted apprehension filed with the Court and submitted to the admonition listed in the above-mentioned branch no after than twenty-one (21) canicule above-mentioned to the Final Hearing) that they intend to arise at the Final Audition and analyze any assemblage they may alarm to affirm and exhibits they intend to acquaint into affirmation at the Final Hearing. Any activist who does not appropriate book and serve a apprehension of ambition to arise in accordance with this branch shall not be acceptable to arise at the Final Hearing, except for acceptable account shown.
If you are a accepted holder of NHTC accepted banal and do not booty accomplish to arise in the Kleinfeldt Activity and article to the proposed Settlement, you will be apprenticed by the Judgment of the Federal Court and will always be barred from adopting an argument to the Adjustment in this or any added activity or proceeding, and from advancing any of the Arise Claims.
If you captivated NHTC accepted banal as of March 5, 2018 and abide to authority such stock, you may accept assertive rights in affiliation with the proposed Settlement. You may access added advice by contacting admonition for Plaintiff Kleinfeldt at: Stuart J. Guber, Esq., Faruqi & Faruqi, LLP, 101 Greenwood Avenue, Suite 600, Jenkintown, PA 19046, Telephone: (212) 277-5770, Email: [email protected]
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