Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of Altair Nanotechnologies, Inc. -- ALTI

NEW YORK, April 12, 2016 -- Pomerantz LLP 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 Altair Nanotechnologies, Inc. (OTCMKTS:ALTI):

NOTICE OF PENDENCY AND SETTLEMENT OF CLASS ACTION

TO: All persons or entities who purchased or otherwise acquired the common stock of Altair Nanotechnologies Inc. between May 15, 2013 and September 25, 2014.

A hearing (the “Settlement Hearing”) shall be held before the Honorable Analisa Torres of the Southern District of New York in the Daniel Patrick Moynihan United States Courthouse, Courtroom 15D, 500 Pearl St., New York, NY 10007-1312, on May 25, 2016 at 4:00 p.m. At the Settlement Hearing, the Court will consider whether (1) to permanently certify a class (the “Class”), for settlement purposes only, of all persons or entities who purchased or otherwise acquired the common stock of Altair Nanotechnologies Inc. (“Altair”) between May 15, 2013 and September 25, 2014 (the “Class Period”); (2) to approve as fair, reasonable, and adequate the proposed settlement of this action (the “Action”) in exchange for $1.5 million; (3) to dismiss with prejudice the Action and to enter judgment releasing the Settled Claims against the Defendants and Released Parties; and (4) to approve Lead Counsel’s application for payment of attorneys’ fees and reimbursement of costs and expenses. 

If you purchased or otherwise acquired Altair common stock during the Class Period, you will be bound by the Settlement unless you send a letter stating that you “request exclusion from the Class in the Altair Nanotechnologies Securities Litigation” to be received by May 11, 2016 to: Altair Nanotechnologies Securities Litigation, c/o Strategic Claims Services, Claims Administrator, P.O. Box 230, 600 N. Jackson Street, Suite 3, Media, PA 19063. If you are a member of the Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release postmarked no later than May 30, 2016 to the Claims Administrator, establishing that you are entitled to recovery. 

If you are a Class Member and do not exclude yourself, you can object to the Settlement by filing a signed letter with the Court saying that you object to the proposed Settlement in the Altair Nanotechnologies Securities Litigation. Your objection must be filed with the Court and mailed or delivered to each of the following addresses and received no later than May 11, 2016:

Any objection must include: (1) a written notice of an intention to appear (if you intend to appear); (2) proof of ownership of Altair common stock and membership in the Class; (3) a detailed statement of your objections to any matters before the Court; and (4) the grounds therefor or the reasons that wish to appear and be heard, as well as all documents or writings you wish the Court to consider.

For copies of the complete settlement documents, please visit the Claims Administrator’s website at https://www.strategicclaims.net/altair or contact the Claims Administrator toll-free at (866) 274-4004. 

Any questions regarding the Settlement should be directed to Lead Counsel. Please do not contact the Court or the Clerk’s Office or Defendants’ Counsel regarding this Notice.