Complete Claim Solutions Reports U.S. District Court Grants Preliminary Approval For Proposed Class Action Settlement Between Xethanol (XNL) and Stockholders
SOURCE Complete Claim Solutions, LLC - The United States District Court for the Southern District of New York has granted preliminary approval of a Proposed Settlement affecting people who purchased the publicly-traded common stock of Xethanol (AMEX: XNL) (formerly XTHN) between January 31, 2006 and August 8, 2006.
A hearing will be held on September 15, 2008, at 9:30 a.m., before the Honorable Harold Baer at the United States Courthouse, 500 Pearl Street, Courtroom 23B, New York, NY, for the purpose of determining (1) whether the Proposed Settlement of the claims in the Litigation for the sum of $2,800,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) whether, after the hearing, this Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated as of April 29, 2008; (3) whether the Plan of Allocation is fair, reasonable and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and reimbursement of expenses incurred in this Litigation should be approved.
Xethanol Corporation is a renewable energy and clean technology company. The Company is pursuing opportunities in biomass gasification for electricity production, wind power, solar power, energy storage, energy infrastructure, energy efficiency, waste recycling and agricultural processes. [SM]
A hearing will be held on September 15, 2008, at 9:30 a.m., before the Honorable Harold Baer at the United States Courthouse, 500 Pearl Street, Courtroom 23B, New York, NY, for the purpose of determining (1) whether the Proposed Settlement of the claims in the Litigation for the sum of $2,800,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) whether, after the hearing, this Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated as of April 29, 2008; (3) whether the Plan of Allocation is fair, reasonable and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and reimbursement of expenses incurred in this Litigation should be approved.
Xethanol Corporation is a renewable energy and clean technology company. The Company is pursuing opportunities in biomass gasification for electricity production, wind power, solar power, energy storage, energy infrastructure, energy efficiency, waste recycling and agricultural processes. [SM]
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