Grant & Eisenhofer P.A. Announce a Class Action Settlement Involving Purchasers of Synchronoss Common Stock

TRENTON, N.J., Sept. 13, 2021 /PRNewswire/ --

UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY

SUMMARY NOTICE

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED SYNCHRONOSS COMMON STOCK BETWEEN OCTOBER 28, 2014 AND JUNE 13, 2017, INCLUSIVE:

YOU ARE HEREBY NOTIFIED that, pursuant to an Order of the United States District Court for the District of New Jersey, a hearing will be held on December 8, 2021, at 12:00 pm., before the Honorable Zahid N. Quraishi, United States District Judge, at the Clarkson S. Fisher Building & United States Courthouse, 402 East State Street, Trenton, New Jersey 08608, to determine: (1) whether a proposed Settlement of In re Synchronoss Technologies Inc. Securities Litigation, Case No. 17-2978 (D.N.J.) (the "Action") including the sum of Nineteen Million ($19,000,000.00) in cash should be approved by the Court as fair, reasonable, and adequate, which would result in this Action being dismissed with prejudice and will prevent Settlement Class Members from ever being part of any other lawsuit against the Defendants (and parties related to them) about the legal claims being resolved by this Settlement, as set forth in the Stipulation of Settlement dated August 19, 2021; (2) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiff should be certified as Class Representative for the Settlement Class, and Lead Counsel should be appointed as Class Counsel for the Settlement Class; (3) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (4) whether Lead Plaintiff's Counsel should be awarded attorneys' fees and expenses incurred in connection with this Action, together with interest thereon, and whether the Lead Plaintiff should receive an award of its costs and expenses in representing the Settlement Class.  Those matters will be addressed by the Court at the Settlement Hearing to be held on December 8, 2021.

If you purchased or otherwise acquired Synchronoss common stock (NASDAQ: SNCR) during the Class Period (October 28, 2014 through June 13, 2017, inclusive), your rights may be affected by this Action and the Settlement thereof.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form ("Proof of Claim"), you may obtain copies either by downloading this information at www.SynchronossSettlement.com or by writing to Synchronoss Securities Settlement c/o Epiq PO Box 5406, Portland, OR 97228-5406.  If you are a Settlement Class Member, to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim form by mail (postmarked no later than January 6, 2022), or online at www.SynchronossSettlement.com (submitted no later than January 6, 2022), establishing that you are entitled to a recovery.  You will be bound by any judgment rendered in the Action unless you request to be excluded, in writing, such that it is postmarked no later than November 17, 2021, in the manner and form explained in the detailed Notice referred to above.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is postmarked no later than November 17, 2021, in accordance with the instructions set forth in the Notice.  If you ask to be excluded, you will not get any payment from the Settlement, and you cannot object to the Settlement.  You will not be legally bound by anything that happens in the lawsuit, and you may be able to sue the Defendants and Related Parties about the Settlement Class's Released Claims in the future.  If you want to bring your own lawsuit based on the matters alleged in this Action, you may want to consult an attorney and discuss whether any individual claim that you may wish to pursue would be time-barred.  Any objection to any aspect of the Settlement, the Plan of Allocation, and/or Lead Counsel's fee and expense application must be filed with the Clerk of the Court and delivered to Lead Counsel and Defendants' Counsel, such that they are received no later than November 17, 2021, in accordance with the instructions set forth in the Notice.

Requests for the Notice and Proof of Claim form should be made to the Claims Administrator:

Synchronoss Securities Settlement
c/o Epiq
PO Box 5406
Portland, OR 97728-5406

Inquiries, other than requests for the Notice and Proof of Claim form, may be made to Lead Counsel:

GRANT & EISENHOFER P.A.
Daniel L. Berger
485 Lexington Avenue
New York, New York 10017
Tel.: (646) 722-8500
Fax: (646) 722-8501
Email: [email protected]

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

DATED:  SEPTEMBER 13, 2021

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF NEW JERSEY

SOURCE// Grant & Eisenhofer P.A.

URL// www.SynchronossSettlement.com

SOURCE Grant & Eisenhofer P.A.