Glancy Prongay & Murray LLP Announces Proposed Settlement of Class Action Involving Atlas Financial Holdings, Inc. Securities
CHICAGO, June 12, 2023 /PRNewswire/ --
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
PHILIP FRYMAN, et al.,
Defendants. |
Case No. 1:18-cv-01640 Hon. Franklin U. Valderrama United States District Judge Hon. Sheila M. Finnegan United States Magistrate Judge |
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES
AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities who, during the period from February 22, 2017, through April 30, 2019, inclusive, purchased or otherwise acquired Atlas Financial Holdings, Inc. ("Atlas") common stock, and/or Atlas 6.625% Senior Unsecured Notes due 2022, and/or publicly traded call options on Atlas common stock, and/or wrote publicly traded put options on Atlas common stock, and were damaged thereby (the "Settlement Class"):
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS MAY 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 Illinois, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of (I) Pendency of Class Action, Certification of Settlement Class, and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed settlement of the Action for $5,000,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A telephonic hearing will be held on September 6, 2023 at 10:00 a.m., before the Honorable Franklin U. Valderrama, District Court Judge for the United States District Court for the Northern District of Illinois, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice, and the Releases specified and described in the Stipulation and Agreement of Settlement dated November 28, 2022 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved. The call-in number is (888) 808-6929, and the access code is 5348076. Persons granted remote access to proceedings are reminded of the general prohibition against photographing, recording, and rebroadcasting of court proceedings. Violation of these prohibitions may result in sanctions, including removal of court-issued media credentials, restricted entry to future hearings, denial of entry to future hearings, or any other sanctions deemed necessary by the Court.
If you are a member of the Settlement Class, your rights may 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 Atlas Financial Securities Settlement, c/o Epiq, P.O. Box 5386, Portland, OR 97228-5386, 1-855-891-4364. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.AtlasFinancialSecuritiesSettlement.com.
If you are a member of the Settlement 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 10, 2023. If you are a Settlement 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 Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than August 16, 2023, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement 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 August 16, 2023, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Atlas, 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.
Requests for the Notice and Claim Form should be made to:
Atlas Financial Securities Settlement
c/o Epiq
P.O. Box 5386
Portland, OR 97228-5386
855-891-4364
www.AtlasFinancialSecuritiesSettlement.com
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
GLANCY PRONGAY & MURRAY LLP
Kara M. Wolke, Esq.
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
(888) 773-9224
[email protected]
By Order of the Court
URL// www.AtlasFinancialSecuritiesSettlement.com
SOURCE Glancy Prongay & Murray LLP
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