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Miller Law, LLC and Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. Announce Partial Settlement for Purchasers of Liquid Aluminum Sulfate

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Miller Law, LLC and Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. Announce Partial Settlement for Purchasers of Liquid Aluminum Sulfate

PR Newswire

CHICAGO, Aug. 8, 2018 /PRNewswire/ -- If You Purchased Liquid Aluminum Sulfate From January 1, 1997 Through February 28, 2011, You Could Be Affected By A Proposed Class Action Settlement.

Please read this entire Notice carefully.  Partial settlements of the lawsuit may affect your rights.

A partial settlement in a lawsuit pending in the United States District Court for the District of New Jersey ("the Court") against the following Defendants, General Chemical Corporation; General Chemical Performance Products, LLC; General Chemical LLC, GenTek Inc., Chemtrade Logistics Income Fund; Chemtrade Logistics Inc., Chemtrade Chemicals Corporation; and Chemtrade Chemicals US, LLC.; Chemtrade Solutions, LLC; C&S Chemicals, Inc., USALCO, LLC, Kemira Chemicals, Inc., Southern Ionics, Inc., GEO Specialty Chemicals, Inc., Frank A. Reichl, Vincent J. Opalewski, Alex Avraamides, Amita Gupta, Milton Sundbeck, Kenneth A. Ghazey, Brian C. Steppig, American Securities LLC, Matthew Lebaron, and Scott Wolff. Plaintiffs in the lawsuit claim that Defendants hurt competition and violated state antitrust, consumer protection, and other laws by allocating customers and markets and fixing the price of Liquid Aluminum Sulfate ("Alum"), thereby causing indirect purchasers to pay too much for Alum. Defendants deny any wrongdoing.

A Settlement has been reached with Defendant GEO Specialty Chemicals Inc. ("GEO"), Kenneth A. Ghazey ("Ghazey") and Brian C. Steppig (the "GEO Settling Parties"). The lawsuit will continue against the other Defendants (collectively, "Non-Settling Defendants").

WHO IS INCLUDED IN THE CLASS? The Indirect Purchaser Settlement Class consists of all persons or entities in AL, AR, AZ, CA, CO, DC, FL, HI, IL, IA, KS, ME, MA, MI, MN, MS, NE, NV, NH, NM, NY, NC, ND, OR, PR, RI, SC, SD, TN, UT, VT, WV, and WI that purchased liquid aluminum sulfate, not for resale, which was manufactured, produced or supplied by Defendants or their unnamed co-conspirators from January 1, 1997 through February 28, 2011.  Excluded from the Class are Defendants, co-conspirators and their respective parents, subsidiaries, and affiliates.

WHAT DOES THE SETTLEMENT PROVIDE? GEO and the Settling Parties agreed to pay into an Escrow Account the sum of up to $4,375,000 (the "Settlement Funds") as follows. GEO shall use its best efforts to cause its insurers to pay $801,074 directly into the Indirect Purchaser Escrow Account within thirty (30) days of Final Judgment. GEO shall also pay $898,926 into the Indirect Purchaser Escrow Account (collectively, the "First Installment"). GEO shall make one additional payment of $1,675,000 that shall be paid into the Indirect Purchaser Escrow Account on or before the first anniversary of the First Installment. GEO will undertake a marketing process for a sale of all or substantially all of its equity interests, a merger of GEO and another entity, or a sale of all or substantially all of its assets (collectively, a "Sale") that will commence no later than thirty (30) days after entry of Final Judgment. If this marketing process is successful, upon the closing of the Sale, the Indirect Purchaser Settlement Class shall be entitled to receive from GEO additional compensation pursuant to an equity value formula up to $1,000,000.

At this time, Interim IPP Lead Counsel are not seeking attorneys' fees in connection with this Settlement. Interim IPP Lead Counsel intends to ask for reimbursement of certain of their out of pocket expenses incurred so far in this litigation, including expert witness expenses incurred to date, as well as service awards for the class representatives of up to $25,000.00 each from the Settlement Fund in recognition of their efforts to date on behalf of the Class. At a later date, Interim IPP Lead Counsel may seek up to one-third of the aggregate of funds achieved for the Class, and from any future recovery that may occur in this Class Action against the Non-Settling Defendants.

HOW DO I RECEIVE A PAYMENT FROM THE SETTLEMENT? No money will be distributed yet. The Interim IPP Lead Counsel will continue to pursue the lawsuit against the Non-Settling Defendants. All Settlement Funds that remain after payment of the Court-ordered attorneys' fees, incentive awards, costs, and expenses will be distributed at the conclusion of the lawsuit or as ordered by the Court.

You may visit the website www.LiquidAluminumSulfate.com for updates on the status of the lawsuit.

WHAT ARE YOUR OPTIONS? If you wish to remain an Indirect Purchaser Settlement Class Member, you need not take any action at this time.  You will give up your right to sue the GEO Settling Parties for the claims that the Settlement with them will resolve.  If you want to keep the right to sue or continue to sue the GEO Settling Parties about the legal issues in this case, then you must exclude yourself from the Class.  If you exclude yourself from the Indirect Purchaser Settlement Class, you will not get any payment from the Settlement.  To exclude yourself, you must send a letter to the Settlement Administrator, postmarked no later than October 2, 2018.  You may also comment on or object to the proposed Settlement. Your objections must be filed no later than October 2, 2018. Details on how to request exclusion, comment, or object to the Settlement are available on the Settlement website, www.LiquidAluminumSulfate.com.

WHO REPRESENTS ME? The Court appointed Jay B. Shapiro of Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. and Marvin A. Miller of Miller Law LLC as Interim IPP Lead Counsel to represent the Indirect Purchaser Settlement Class on an interim basis and for purposes of the Settlement. If you want to be represented by your own lawyer, you may hire one at your own expense. 

The Court will hold a final fairness hearing to decide whether to approve the terms of the Settlement at 10:00 a.m. on November 14, 2018, at the Martin Luther King, Jr. Building & U.S. Courthouse, 50 Walnut Street, Newark, New Jersey 07101. If there are objections, the Court will consider them but may still approve the Settlement. You may appear at the hearing, but you are not required to do so. The hearing may be rescheduled without notice to the Class, so if you plan to attend, please periodically check the Settlement website for any updates.

This notice is only a summary.  For more information, please visit the Settlement website, www.LiquidAluminumSulfate.com or call 1-866-217-4455.

 

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SOURCE Miller Law, LLC and Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A.

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