National Lampoon, Inc. Shareholder Class Action
MARCH 2012 - According to the Notice:
If approved by the Court, the settlement will provide $1,000,000 (the “Settlement Amount”), to pay claims of investors who purchased National Lampoon Stock during the period from March 1, 2008 through and including December 15, 2008 (the “Class Period”).
The Settlement represents an average recovery of $0.54 per share of National Lampoon Stock for the 1.85 million shares estimated to have suffered damages during the Class Period. A share may have been traded more than once during the Class Period. This estimate solely reflects the estimated average recovery per damaged share of National Lampoon Stock. The indicated average recovery per share will be the total average recovery for all purchasers of that share. This is not an estimate of the actual recovery per share you should expect. Your actual recovery will depend on the aggregate losses of all Class Members, the date(s) you purchased and sold National Lampoon Stock, and the total number and amount of claims filed.
What is this lawsuit about?
The case is known as Ansell v. Laikin, et al., No. CV 10-09292 PA (AGRx) (the “Litigation”), and the Court in charge of the case is the United States District Court for the Central District of California, Western Division.
The Class Action asserts that Defendants violated the federal securities laws in connection with Defendant Laikin’s Stock Manipulation Scheme; the Non-Disclosure of the Stock Manipulation Scheme; and, with respect to Defendants Laikin, Durham, Levy, Jimirro, Murray, Toll, and Evanoff, as control persons over National Lampoon during the Class Period. The Settling Defendants deny they did anything wrong. The Settlement resolves all of
the claims in the Class Action.