The Rosen Law Firm, P.A. and Wolf Haldenstein Adler Freeman & Herz LLP Announce Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of IsoRay, Inc. -- ISR

YAKIMA, Wash., Oct. 30, 2016 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. and Wolf Haldenstein Adler Freeman & Herz LLP announce that the United States District Court for the Eastern District of Washington has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of IsoRay, Inc. (NYSEMKT:ISR):

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION

TO:  ALL PERSONS WHO PURCHASED ISORAY, INC. COMMON STOCK BETWEEN MAY 20, 2015 AND MAY 21, 2015, INCLUSIVE

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of Washington, that a hearing will be held on March 7, 2017 at 10:30 a.m. before the Honorable Lonny R. Suko, United States District Judge of the Eastern District of Washington, 25 South 3^rd Street, Room 201, Yakima, Washington 98097 (the “Settlement Hearing”) for the purpose of determining: (1) whether the proposed Settlement consisting of the sum of $3,537,500 in cash 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 for an award of attorneys’ fees of no more than 30% of the settlement amount (or $1,061,250) and reimbursement of expenses of no more than $50,000  and a reimbursement award of reasonable costs and expenses (including lost wages) directly relating to their representation of the Class of no more than $15,000 collectively to all Lead Plaintiffs, should be approved; and (4) whether the Litigation should be dismissed with prejudice.

If you purchased IsoRay common stock between May 20, 2015 and May 21, 2015, inclusive (the “Class Period”), your rights may be affected by the Settlement of this action.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action and a copy of the Proof of Claim and Release Form, you may obtain copies by contacting the Claims Administrator at: IsoRay, Inc. Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 3, Media, PA 19063, Telephone: (866) 274-4004, Facsimile: (610) 565-7985, info@strategicclaims.net, or going to the website www.strategicclaims.net.  If you are a member of the Class, in order to share in the distribution of the Net Settlement Fund, you must submit a properly completed Proof of Claim and Release Form postmarked no later than January 3, 2017 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 Litigation whether or not you make a claim.  If you desire to be excluded from the Class, you must submit a request for exclusion postmarked no later than February 4, 2017, in the manner and form explained in the detailed Notice to the Claims Administrator.

Any objection to the Settlement, Plan of Allocation, or the Plaintiffs’ Counsel’s request for an award of attorneys’ fees and reimbursement of expenses must be in the manner and form explained in the detailed Notice and received no later than February 15, 2017, to each of the following:

If you have any questions about the Settlement, you may call or write to Plaintiffs’ Counsel:

Phillip Kim
THE ROSEN LAW FIRM, P.A.
275 Madison Avenue, 34^th Floor
New York, NY 10016
info@rosenlegal.com

-or-

Matthew M. Guiney
Wolf Haldenstein Adler Freeman & Herz LLP
270 Madison Avenue
New York, NY 10016
Guiney@whafh.com

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

DATED: OCTOBER 20, 2016

BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE EASTERN
DISTRICT OF WASHINGTON