Federman & Sherwood Announce Notice Of Pendency And Proposed Partial Settlement Of Class Action In The Liberty Silver Corporation Securities Litigation

OKLAHOMA CITY, March 27, 2015 /PRNewswire/ -- The following statement is being issued by Federman & Sherwood regarding the Liberty Silver Corporation Securities Litigation.

UNITED STATES DISTRICT COURT, SOUTHERN DISTRICT OF FLORIDA

TODD STANAFORD a/k/a JERALD TODD STANAFORD, on behalf of himself and all others similarly situated, Plaintiffs, vs. ROBERT DONALD BRUCE GENOVESE, WILLIAM TAFURI, GEOFFREY BROWNE, BG CAPITAL GROUP LTD, LOOK BACK INVESTMENTS, INC., OUTLOOK INVESTMENTS, INC., AND LIBERTY SILVER CORPORATION, Defendants. Case No. 9:13-cv-80923 (KLR)

SUMMARY NOTICE OF PENDENCY AND PROPOSED PARTIAL SETTLEMENT OF CLASS ACTION

TO: All persons and entities who purchased or acquired common stock in Liberty Silver Corporation LBSV during the period from February 10, 2010 through October 5, 2012.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of Florida, that Lead Plaintiffs in the above-captioned litigation (the "Action") have reached a proposed partial settlement with Defendants Liberty Silver Corporation, Geoffrey Browne, and William Tafuri (the "Liberty Silver Defendants") for $1 million in cash, plus interest earned (the "Settlement"). Defendants Robert Donald Bruce Genovese, BG Capital Group Ltd, Look Back Investments, Inc., and Outlook Investments Inc. (the "BG Defendants") who are also named as defendants in this Action, are not parties to this Settlement. The litigation is continuing against the BG Defendants regardless of whether the proposed partial settlement is approved, however, there is no guarantee of an additional settlement or distribution.

A hearing will be held on July 17, 2015 at 9:00 a.m. before the Honorable Kenneth L. Ryskamp, at the United States District Court for the Southern District of Florida, 701 Clematis Street, West Palm Beach, FL 33401 (the "Settlement Hearing"), to determine: (i) whether the Court should approve the proposed partial Settlement as fair, reasonable, and adequate; (ii) whether the proposed Plan of Allocation should be approved as fair and reasonable; (iii) whether Lead Counsel's application for attorneys' fees, reimbursement of expenses, and reimbursement awards for Lead Plaintiffs should be approved; and (iv) whether the claims against the Liberty Silver Defendants should be dismissed with prejudice.

If you purchased publicly traded common stock of Liberty Silver Corporation LBSV ("Liberty Silver") during the period from February 10, 2010 through October 5, 2012, inclusive (the "Settlement Class Period"), your rights may be affected by the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the detailed Notice of Pendency and Settlement of Class Action (the "Notice") and a copy of the Proof of Claim and Release, you may obtain copies by writing to Liberty Silver Corp. Securities Litigation, c/o Heffler Claims Group, P.O. Box 59089, Philadelphia, PA 19102-9089, or going to the website, www.LibertySilverSettlement.com.    

If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than June 23, 2015. If you are a member of the Settlement Class and do not submit a proper Claim Form, you will not share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgment or orders entered by the Court in the Action.

If you are a Class Member and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than June 26, 2015, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgment or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's application for attorneys' fees, reimbursement of litigation expenses, and reimbursement awards for Lead Plaintiffs, must be filed with the Court and delivered to Lead Counsel and counsel for the Defendants such that they are received no later than June 26, 2015, in accordance with the instructions set forth in the Notice.

PLEASE DO NOT CONTACT THE COURT OR THE COURT CLERK'S OFFICE REGARDING THIS NOTICE. Any questions, should be directed to:

Claims Administrator:
Liberty Silver Securities Litigation
c/o Heffler Claims Administration
P.O. Box 59089
Philadelphia, PA 19102-9089
1-844-777-8053
www.LibertySilverSettlement.com

Lead Counsel for Plaintiffs:
William B. Federman
FEDERMAN & SHERWOOD
10205 N. Pennsylvania Avenue
Oklahoma City, OK 73120
(405) 235-1560
wbf@federmanlaw.com

Dated: March 30, 2015
By Order of the Court

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SOURCE Federman & Sherwood