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Glancy Prongay & Murray LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of American Depository Shares of China Mobile Games & Entertainment Group Limited – CMGE

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NEW YORK, June 14, 2017 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray 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 American Depository Shares of China Mobile Games & Entertainment Group Limited (NASDAQ:CMGE):

SUMMARY NOTICE OF (I) PENDENCY AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED PUBLICLY TRADED AMERICAN DEPOSITORY SHARES ("ADS") OF CHINA MOBILE GAMES & ENTERTAINMENT GROUP LIMITED ("CMGE") BETWEEN APRIL 26, 2013 AND JANUARY 14, 2015, INCLUSIVE ("CLASS PERIOD")

Please read this notice carefully, your rights will be affected by a class action lawsuit pending in this court.

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Southern District of New York, a hearing will be held on September 14, 2017, at 2:30 p.m., before the Honorable Kimba M. Wood, United States District Judge, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, Courtroom 18B, 500 Pearl St., New York, NY 10007, for the purpose of determining (1) whether the proposed Settlement of the Action for the sum of One Million Five Hundred Thousand Dollars ($1,500,000.00) in cash should be approved by the Court as fair, reasonable, and adequate, which would result in this Action being dismissed with prejudice against the Released Persons as set forth in the Stipulation and Agreement of Settlement dated May 22, 2017; (2) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (3) whether Lead Counsel's application for an award of attorneys' fees of no more than 30% of the Settlement Amount and reimbursement of expenses not to exceed $100,000 should be approved.

If you purchased or otherwise acquired CMGE ADS during the Class Period, your rights may be affected by this Action and the Settlement and you may be entitled to share in the Settlement Fund.  If you have not received a Postcard Notice of the Settlement, you may contact the Claims Administrator, Strategic Claims Services, at:

China Mobile Games & Entertainment Group Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson Street, Suite 3
Media, PA 19063
 Tel: (866) 274-4004
Fax: (610) 565-7985
Email: info@strategicclaims.net

You can download a copy of the Settlement documents from the website www.strategicclaims.net/cmge, including: (1) the Postcard Notice; (2) the Notice of (I) Pendency and Proposed Settlement of Class Action; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Internet Long Form Notice"); and (3) the Proof of Claim and Release form.

To participate in the Settlement, you must submit a completed Proof of Claim and Release form with the required documents postmarked or emailed no later than October 21, 2017 to the Claims Administrator, establishing that you are entitled to a recovery.  You will be bound by any judgment rendered in the Action unless you request to be excluded, in writing, to the Claims Administrator's address above, mailed and postmarked by August 24, 2017 in the manner set forth in the Internet Long Form Notice.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' counsel such that they are received no later than August 24, 2017, in accordance with the instructions set forth in the Internet Long Form Notice, which can be downloaded at www.strategicclaims.net/cmge.

Inquiries about the Settlement, other than requests for the Internet Long Form Notice or Proof of Claim and Release form, may be made to Lead Counsel:

GLANCY PRONGAY & MURRAY LLP
Kara M. Wolke
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Tel: (888) 773-9224
Email: settlements@glancylaw.com 

Further information may also be obtained by directing your inquiry to the Claims Administrator.  PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

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