Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of ShengdaTech Inc. Securities Litigation

NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the ShengdaTech Inc. Securities Litigation:

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

In re SHENGDATECH, INC. SECURITIES	)	Master No. 1:11-cv-01918-LGS
LITIGATION	)
	)	CLASS ACTION
This Document Relates To:	)
ALL ACTIONS.	)

SUMMARY NOTICE

TO: ALL PERSONS WHO PURCHASED THE COMMON STOCK OF SHENGDATECH, INC. (“SHENGDATECH” OR THE “COMPANY”) BETWEEN MAY 6, 2008 AND MARCH 15, 2011, INCLUSIVE (“CLASS PERIOD”).

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Southern District of New York, a hearing will be held on September 17, 2015, at 10:30 a.m., before the Honorable Lorna G. Schofield, United States District Judge, at the Thurgood Marshall United States Courthouse, 40 Foley Square, Courtroom: 1106, New York, NY 10007, for the purpose of determining (1) whether the proposed settlement of the Action¹ for the sum of One Million Nine Hundred Thousand Dollars ($1,900,000.00) in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, thereafter, this Action should be dismissed with prejudice against the Released Persons as set forth in the Settlement Agreement dated June 10, 2015; (3) whether the Plan of Distribution of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (4) the reasonableness of the application of Lead Counsel for the payment of attorneys’ fees and expenses in connection with this Action, together with interest thereon.

If you purchased ShengdaTech common stock, your rights may be affected by this Action and the settlement thereof. If you have not received a detailed Amended Notice of Pendency and Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to ShengdaTech Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 990, Corte Madera, CA 94976-0990, or by downloading this information at www.shengdatechsecuritieslitigation.com. Additional information about the Settlement Agreement may also be obtained by calling the toll free number, 1-888-561-8981. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must mail or submit online your completed and signed Proof of Claim, no later than September 7, 2015, establishing that you are entitled to a recovery. You will be bound by any judgment rendered in the Action unless you request to be excluded, in writing, to the above address, postmarked by August 3, 2015.

Any objection to any aspect of the settlement must be filed with the Clerk of the Court no later than August 3, 2015, and received by the following no later than August 3, 2015:

ROBBINS GELLER RUDMAN & DOWD LLP	ROBBINS GELLER RUDMAN & DOWD LLP	MORGAN, LEWIS & BOCKIUS LLP
SAMUEL H. RUDMAN	JEFFREY D. LIGHT	JEFFREY Q. SMITH
MARIO ALBA JR.	655 West Broadway	ARI M. SELMAN
58 South Service Road	Suite 1900	101 Park Avenue
Suite 200	San Diego, CA 92101	New York, NY 10178
Melville, NY 11747
Counsel for Lead Plaintiff		Counsel for Defendant KPMG HK

PLEASE DO NOT CONTACT THE COURT OR
THE CLERK’S OFFICE REGARDING THIS NOTICE.
DATED: June 8, 2015	BY ORDER OF THE COURT
	UNITED STATES DISTRICT COURT
	SOUTHERN DISTRICT OF NEW YORK

¹ All capitalized terms not defined here shall have the meaning assigned to them in the Amended Stipulation and Agreement of Settlement dated June 10, 2015 (the “Settlement Agreement”). The Settlement Agreement can be viewed at www.shengdatechsecuritieslitigation.com.