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DATATRAK International, Inc., Timothy G. Biro, James M. Karis, Jerome H. Kaiser, Nicholas A. Loiacono, Tabatabai Investment Management LLC (f/k/a Arosa Investment Management LLC) and Alex Tabatabai Seek Court Approval of Proposed Settlement
DATATRAK International, Inc., Timothy G. Biro, James M. Karis, Jerome H. Kaiser, Nicholas A. Loiacono, Tabatabai Investment Management LLC (f/k/a Arosa Investment Management LLC) and Alex Tabatabai Seek Court Approval of Proposed Settlement.
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[{"type":"text","content":"\n\n\n\nDATATRAK International, Inc., Timothy G. Biro, James M. Karis, Jerome H. Kaiser, Nicholas A. Loiacono, Tabatabai Investment Management LLC (f/k/a Arosa Investment Management LLC) and Alex Tabatabai Seek Court Approval of Proposed Settlement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nDATATRAK International, Inc., Timothy G. Biro, James M. Karis, Jerome H. Kaiser, Nicholas A. Loiacono, Tabatabai Investment Management LLC (f/k/a Arosa Investment Management LLC) and Alex Tabatabai Seek Court Approval of Proposed Settlement\nFormer DATATRAK Chairman Laurence P. Birch is not a Party to the Settlement; Deadline for Shareholders to Object to Proposed Settlement and Dismissal of Claims is March 16, 2016\nPR Newswire\nCLEVELAND, March 7, 2016\n\n\n\nCLEVELAND, March 7, 2016 /PRNewswire/ -- Pursuant to Ohio Rule of Civil Procedure 23.1 DATATRAK International, Inc. (OTCQX: DTRK), Timothy G. Biro, James M. Karis, Jerome H. Kaiser, Nicholas A. Loiacono and Andrew T. Pitler (collectively the \"Released DATATRAK Parties\") on the one hand, and Tabatabai Investment Management LLC (f/k/a Arosa Investment Management LLC and Alex Tabatabai (collectively \"Arosa\") (collectively the \"Settling Parties\") on the other, hereby provide notice to DATATRAK Shareholders of a proposed partial settlement of DATATRAK International, Inc. v. Arosa Investment Management, LLC, et al., Cuyahoga County Court of Common Pleas Case No. CV-15-854059, currently being considered for final approval by the Honorable Michael E. Jackson (the \"Proposed Settlement\").  The Proposed Settlement does not include former DATATRAK Chairman Laurence P. Birch, and the claims asserted by Arosa against Mr. Birch survive the Proposed Settlement.  \n\nBackground of the Dispute and Claims Asserted\n\nOn November 10, 2015, Defendants Birch, Biro, Karis, Kaiser and Loiacono indefinitely postponed DATATRAK's November 11, 2015 Annual Shareholder Meeting.  On November 10, 2015, DATATRAK initiated this action against Arosa, alleging claims of tortious interference, fraudulent misrepresentation, and civi...