Poseidonconcepts: Poseidon Concepts Securities Litigation: Representative Plaintiffs Announce Approval of the Global Settlement and Applications for Approval of Proposed Claims and Distribution Protocol, Class Counsel Fees, and Related Matters

TORONTO, Sept. 10, 2018 (GLOBE NEWSWIRE) -- Courts in Canada and the United States have approved and recognized the Amended Plan of Compromise and Arrangement with respect to Poseidon Concepts Corp and its related entities (collectively, "Poseidon") and the Global Settlement, made within Poseidon's insolvency proceeding brought in the Alberta Court of Queen's Bench ("Alberta Court"). The Amended Plan of Compromise and Arrangement and the Global Settlement were previously announced on April 23, 2018.Accordingly, the Amended Plan of Compromise and Arrangement and the Global Settlement have become final and they have been implemented. All persons and entities who purchased or otherwise acquired securities of Poseidon on or before February 14, 2013, except certain persons and entities affiliated with the defendants, are included ...Full story available on Benzinga.com