Norwood v. Lee, et al.
C.A. No. 2018-0056-KSJM
Welcome to the POW! Entertainment Merger Settlement Website.
The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency of Class Action, Proposed Settlement of Class Action, Settlement Hearing, and Right to Appear (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.
The Parties Have Reached a Proposed Settlement, Subject to Court Approval
The Parties have reached a proposed settlement of this action, captioned Norwood v. Lee, et al., C.A. No. 2018-0056-KSJM, for a cash payment of $950,000 (the “Settlement”). The Settlement, if approved by the Court, will resolve all claims in this Action.
Your Rights in the Proposed Settlement
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the proceeds of the Settlement, if it receives final Court approval. The Class conditionally certified by the Court for settlement purposes includes all record holders and beneficial holders of POW! Entertainment, Inc. (“POW”) common stock who held or owned such stock on October 23, 2017, the date POW was acquired by First Creative International Limited and Camsing Entertainment International, Inc. (the “Merger), except those Persons that are excluded, as described below.
You are not a Class Member if you are Defendants, members of the immediate family of any Defendant, any entity in which a Defendant has or had a controlling interest, and legal representatives, heirs, successors-in-interest, transferees and assigns of any such excluded person or entity. Also excluded from the Class is any Person who exercised their appraisal rights under Section 262 of the General Corporation Law of the State of Delaware and their respective successors-in-interest, successors, predecessors-in-interest, predecessors, representatives, trustees, executors, administrators, estates, heirs, assigns, and transferees, immediate and remote, and any person or entity acting on behalf of, or claiming under, any of them.
Please read the Notice to fully understand your rights and options in this Settlement. Copies of the Notice can be found in the menu at the top of this page.
Payments to eligible Class Members will be made only after the Settlement and a Plan of Allocation are approved by the Court and any appeals are resolved. It is always uncertain whether these appeals can be resolved, and resolving them can take time, perhaps more than a year. Please be patient.
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT:
|NO ACTION IS NECESSARY IN ORDER FOR ELIGIBLE CLASS MEMBERS TO RECEIVE A PAYMENT||If you held shares of POW common stock that were exchanged for cash in the Merger, you are eligible to receive a pro rata payment from the Net Settlement Fund. Eligible Class Members do not need to submit a claim form or take any other action in order to receive a payment from the Net Settlement Fund. Your distribution from the Settlement will be paid to you directly.|
|OBJECT||Write to the Court about why you don’t like the Settlement.|
|GO TO A HEARING||
Ask to speak in Court about the fairness of the Settlement.
The Court will hold a Settlement Hearing at 1:30 p.m. on December 9, 2022, via Zoom.
At this hearing the Court will consider whether the Settlement is fair, reasonable, and adequate. The Court will also decide how much to pay to Class Counsel, whether to approve an award to the Class Plaintiff, and whether to approve the Plan of Allocation.