Labaton Sucharow LLP and Robbins Geller Rudman & Dowd LLP Announce Pendency of Class Action and Proposed Partial Class Action Settlement Involving the LJM Preservation and Growth Fund
CHICAGO, Sept. 19, 2019 /PRNewswire/ --
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
LEONARD SOKOLOW, Individually and on |
Case No. 1:18-cv-01039 |
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Behalf of All Others Similarly Situated, |
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Hon. Judge Robert M. Dow, Jr. |
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Plaintiff, |
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vs. |
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LJM FUNDS MANAGEMENT, LTD., et al., |
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Defendants. |
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION,
PROPOSED PARTIAL CLASS ACTION SETTLEMENT, AND MOTION FOR
ATTORNEYS' FEES AND EXPENSES
To: All persons and entities who purchased or otherwise acquired shares of the LJM Preservation and Growth Fund (LJMAX, LJMCX, or LJMIX) (the "Fund") during the period from February 28, 2015 through February 7, 2018, inclusive (the "Settlement Class").
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 Court-appointed Lead Plaintiffs, on behalf of themselves and all members of the proposed Settlement Class, and Two Roads Shared Trust, Northern Lights Distributors, LLC, NorthStar Financial Services Group, LLC, Mark D. Gersten, Mark Garbin, Neil M. Kaufman, Anita K. Krug, Andrew B. Rogers, and James Colantino (collectively, the "Settling Defendants"), have reached a proposed settlement of the claims against the Settling Defendants in the above-captioned action (the "Action") in the amount of $12,850,000 (the "Settlement"). Claims against the remaining defendants are continuing to be litigated. This Action is separate from the state class action, Sokolow v. LJM Funds Management, Ltd., et al., Case No. 18-CH-11880, pending in the Circuit Court of Cook County, Illinois.
A hearing will be held before the Honorable Robert M. Dow, Jr. of the United States District Court for the Northern District of Illinois, Everett McKinley Dirksen United States Courthouse, 219 S. Dearborn, Chicago, Illinois 60604, in Courtroom 2303 at 9:15 a.m. on December 18, 2019 (the "Settlement Hearing") to, among other things, determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the claims against the Settling Defendants with prejudice as provided in the Stipulation and Agreement of Partial Settlement, dated August 19, 2019; (iii) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (iv) approve Lead Counsel's Fee and Expense Application. The Court may change the date of the Settlement Hearing without providing another notice. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Notice of Pendency of Class Action, Proposed Partial Class Action Settlement, and Motion for Attorneys' Fees and Expenses ("Notice") and Proof of Claim and Release form ("Claim Form"), you may obtain copies of these documents by visiting the website dedicated to the Settlement, www.LJMFundsSecuritiesSettlement.com, or by contacting the Claims Administrator at:
LJM Funds Securities Settlement
Claims Administrator
P.O. Box 3058
Portland, OR 97208-3058
www.LJMFundsSecuritiesSettlement.com
(855) 915-0913
Inquiries, other than requests for the Notice/Claim Form or for information about the status of a claim, may also be made to Lead Counsel:
James W. Johnson, Esq.
Labaton Sucharow LLP
140 Broadway
New York, NY 10005
www.labaton.com
[email protected]
(888) 219-6877
James E. Barz, Esq.
Robbins Geller Rudman & Dowd LLP
200 South Wacker Drive
Chicago, IL 60606
www.rgrdlaw.com
(800) 449-4900
If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than December 11, 2019. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.
If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than November 27, 2019. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.
Any objections to the proposed Settlement, the Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court and mailed to counsel for the Settling Parties in accordance with the instructions in the Notice, such that they are filed and received no later than November 27, 2019.
PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE.
DATED: September 19, 2019 |
BY ORDER OF THE COURT UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS |
SOURCE: Labaton Sucharow LLP and Robbins Geller Rudman & Dowd LLP
URL: www.LJMFundsSecuritiesSettlement.com
SOURCE Labaton Sucharow LLP and Robbins Geller Rudman & Dowd LLP
Related Links
http://www.LJMFundsSecuritiesSettlement.com
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