The Rosen Law Firm, P.A. and The Brown Law Firm, P.C. Announce Proposed Partial Settlement of Class Action and Derivative Actions on Behalf of Purchasers of 6D Global Technologies, Inc. Securities — SIXD

NEW YORK, Oct. 23, 2020 (GLOBE NEWSWIRE) — The Rosen Law Firm, P.A. and The Brown Law Firm, P.C. announce that the United States District Court for the Southern District of New York has approved the following announcement of a proposed partial settlement of class action and derivative actions that would benefit purchasers of 6D Global Technologies, Inc. securities (OTCMKTS:SIXD):
SUMMARY NOTICE OF PENDENCY AND PROPOSED PARTIAL SETTLEMENT OF CLASS ACTION AND DERIVATIVE ACTIONSTO: ALL PERSONS WHO PURCHASED PUBLICLY TRADED 6D GLOBAL TECHNOLOGIES, INC. SECURITIES FROM JUNE 16, 2014 THROUGH SEPTEMBER 10, 2015, BOTH DATES INCLUSIVE; AND TO ALL PERSONS WHO CURRENTLY OWN 6D GLOBAL TECHNOLOGIES, INC. SECURITIES AND OWNED THEM AS OF OCTOBER 7, 2019.YOU ARE HEREBY NOTIFIED, pursuant to Orders of the United States District Court for the Southern District of New York, that a hearing will be held on February 23, 2021, at 2:00 p.m. before the Honorable Alison J. Nathan, United States District Judge of the Southern District of New York, 40 Foley Square, Courtroom 906, New York, New York 10007 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Class Action and Derivative Actions captioned Scott v. Wei, Inc., et al., No. 15-cv-9691-AJN (S.D.N.Y.) and Scott v. Wei, et al., C.A. No. 2018-0665-TMR (Del. Ch.) for consideration including the sum of $640,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Class Counsel of up to $133,333.00, one-third of the portion of the Settlement Fund attributable to the efforts of Class Counsel in the Class Action plus interest for an award of Class Counsel’s attorneys’ fees, and reimbursement of their expenses of not more than $65,000 and incentive payments of no more than $6,000 to Class Action Plaintiffs, should be approved; (4) whether the application of Derivative Counsel of $80,000.00 for an award of Derivative Counsel’s attorneys’ fees that covers reimbursement of expenses, one-third of the portion of the Settlement Fund attributable to the efforts of Derivative Counsel in the Derivative Actions, which sum Settling Derivative Plaintiffs agreed Derivative Counsel is entitled, out of which an Award to Derivative Plaintiff of up to $1,500.00 may be provided; (5) whether claims in the Class Action against the Class Settling Defendants should be dismissed with prejudice; and (6) whether claims in the Derivative Actions against the Settling Derivative Individual Defendants should be dismissed with prejudice and the claims in the Derivative Actions against 6D Global Technologies, Inc. f/k/a CleanTech Innovations, Inc. (“6D Global”) and those defendants who are not Settling Derivative Individual Defendants should be dismissed without prejudice.If you purchased publicly traded 6D Global securities during the period from June 16, 2014 through September 10, 2015, both dates inclusive (the “Settlement Class Member”), and if you currently own 6D Global securities and owned them as of October 7, 2019 (“Current 6D Global Shareholder”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in 6D Global securities. You may obtain copies of the detailed Notice of Pendency and Proposed Partial Settlement of Class Action and Derivative Actions (“Notice”) and the Proof of Claim and Release Form by writing to or calling the Claims Administrator: 6D Global Technologies, Inc. Securities and Derivative Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; [email protected]. You can also download copies of the Notice and submit your Proof of Claim and Release Form online at www.strategicclaims.net. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form electronically or postmarked no later than January 25, 2021 to the Claims Administrator, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.If you are a Settlement Class Member and desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than February 2, 2021, in the manner and form explained in the detailed Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Class Action.Any objection by a Settlement Class Member and/or Current 6D Global Shareholder to the Settlement, Plan of Allocation, or Class Counsel’s and Derivative Counsel’s request for an award to Class Counsel and Derivative Counsel of attorneys’ fees and reimbursement of expenses and Awards to Class Action Plaintiffs and Derivative Plaintiff must be in the manner and form explained in the detailed Notice and received no later than February 2, 2021, by each of the following:If you have any questions about the Settlement, you may call or write to Class Counsel, The Rosen Law Firm, P.A., c/o Jonathan Horne, 275 Madison Avenue, 40th Fl, New York, NY 10016, Tel: (212) 686-1060, Fax: (212) 202-3827, and you may call or write to Derivative Counsel, the Brown Law Firm, P.C., c/o Timothy Brown, 240 Townsend Square, Oyster Bay, NY 11771, Tel: (516) 922-5427, Fax: (516) 344-6204.PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.Dated: October 1, 2020BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK 


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