Bernstein Litowitz Berger & Grossmann LLP Announces a Proposed Settlement in the RH Securities Litigation
OAKLAND, Calif., July 23, 2019 /PRNewswire/ --
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
OAKLAND DIVISION
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND
(III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES
TO: |
All persons and entities who, during the period from March 26, 2015 through June 8, 2016, inclusive, purchased or otherwise acquired the common stock of RH (formerly Restoration Hardware Holdings, Inc.) (the "Class"): |
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of California, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Class, except for certain persons and entities who are excluded from the Class by definition as set forth in the full printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed settlement of the Action for $50,000,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on October 22, 2019, at 2:00 p.m., before the Honorable Yvonne Gonzalez Rogers at Courtroom 1 of the United States District Court for the Northern District of California, 1301 Clay Street, Oakland, CA 94612, to determine whether: (1) the proposed Settlement should be approved as fair, reasonable, and adequate; (2) the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated May 6, 2019 (and in the Notice), should be granted; (3) the proposed Plan of Allocation should be approved as fair and reasonable; and (4) the application of Lead Counsel for an award of attorneys' fees of 15% of the Settlement Fund (or $7,500,000 plus interest) and payment of litigation expenses of up to $950,000 from the Settlement Fund, which may include the expenses of Lead Plaintiffs directly related to their representation of the Class, should be approved.
If you are a member of the Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at RH Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173074, Milwaukee, WI 53217, 1-866-217-4456. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, RHSecuritiesLitigation.com.
If you are a member of the Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than October 8, 2019. If you are a Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Class and wish to exclude yourself from the Class, you must submit a request for exclusion such that it is received no later than October 1, 2019, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than October 1, 2019, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, RH, or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel: Bernstein Litowitz Berger & Grossmann LLP, Jonathan D. Uslaner, Esq., 2121 Avenue of the Stars, Suite 2575, Los Angeles, CA 90067, (800) 380-8496, [email protected]
Requests for the Notice and Claim Form should be made to: In re RH, Inc. Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173074, Milwaukee, WI 53217, (866) 217-4456 (toll free), RHSecuritiesLitigation.com.
By Order of the Court
SOURCE Bernstein Litowitz Berger & Grossmann LLP
Related Links
http://rhsecuritieslitigation.com
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