Chimicles & Tikellis LLP Announces A Summary Notice Of Proposed Settlement Of Class And Derivative Action Concerning Hines Real Estate Investment Trust, Inc.

HAVERFORD, Pa., March 22, 2018 /PRNewswire/ --

IN THE CIRCUIT COURT
FOR BALTIMORE CITY

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS AND DERIVATIVE ACTION

TO: ALL PERSONS WHO HELD COMMON SHARES IN HINES REAL ESTATE INVESTMENT TRUST, INC. ("HINES REIT" OR THE "COMPANY"), ON OR BETWEEN AUGUST 11, 2016, AND MARCH 2, 2018 (the "Class").

YOU ARE HEREBY NOTIFIED that the above-captioned action (the "Action") has been preliminarily certified by the Court to proceed as a class action and that the parties have reached a proposed Settlement of the Action that fully and completely releases the claims of Hines REIT and the Class asserted in the Action in exchange for the payment of $3,250,000, minus any award of attorneys' fees and expenses to Plaintiffs' Counsel and contribution award to Plaintiffs ("Net Settlement Amount").

YOU ARE HEREBY FURTHER NOTIFIED THAT a hearing will be held on June 6, 2018 at 2:00 p.m. before the Court at Mitchell Courthouse, 100 N. Calvert Street, Room 113, Baltimore, Maryland 21202, to consider whether the proposed Settlement, the conditionally approved certification of the action as a class action, and Plaintiffs' Counsel's application for attorneys' fees, reimbursement of expenses, and payment of case contribution awards to the Plaintiffs should be granted final approval as fair, reasonable, and adequate.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED. If the Settlement becomes final, members of the Class will have released claims as against the Defendants; Class members do not have the right to opt out or exclude themselves from the Settlement. Any objections to the proposed Settlement and/or Plaintiffs' Counsel's application for attorneys' fees, reimbursement of expenses, and payment of case contribution awards to Plaintiffs MUST be filed with the Court and delivered to counsel so that they are received by May 16, 2018.

IF YOU ARE A MEMBER OF THE CLASS, YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT AMOUNT. There is no proof of claim process. Class members who were Stockholders of record as of March 2, 2018 will be sent their pro rata share of the Net Settlement Amount if the Settlement becomes final. No distribution will be made unless and until the Settlement is approved by the Court and becomes final. 

THIS NOTICE IS JUST A SUMMARY. INQUIRES AND REQUESTS FOR ADDITIONAL INFORMATION, INCLUDING A COPY OF THE COMPLETE NOTICE, SHOULD BE DIRECTED TO: Kimberly M. Donaldson Smith, Chimicles & Tikellis LLP, 361 West Lancaster Ave., Haverford, PA 19041, Tel: (610) 642-8500, Email: [email protected]; or Paul D. Malmfeldt, Blau & Malmfeldt, 566 West Adams Street, Suite 600, Chicago, IL 60661, Tel: (312) 443-1600, Email: [email protected].

PLEASE DO NOT CALL THE COURT OR COURT CLERK FOR INFORMATION
Form and substance approved by Court Order dated March 2, 2018.

SOURCE Chimicles & Tikellis LLP

Related Links

http://www.chimicles.com