Labaton Sucharow LLP Announces Summary Notice Of Pendency Of Class Action And Proposed Settlement And Motion For Attorneys' Fees And Expenses In The City Of Providence Et Al. V. Aeropostale, Inc., Et Al. (11-CV-07132) (S.D.N.Y.)

NEW YORK, March 6, 2014 /PRNewswire/ -- TO:   ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED COMMON STOCK OF AEROPOSTALE, INC. ("AEROPOSTALE") FROM MARCH 11, 2011 THROUGH AUGUST 18, 2011, INCLUSIVE (THE "CLASS PERIOD"), AND WHO WERE DAMAGED THEREBY (THE "CLASS").

PLEASE READ THIS NOTICE CAREFULLY.  YOUR RIGHTS MAY BE AFFECTED BY THE PROPOSED SETTLEMENT OF A CLASS ACTION LAWSUIT PENDING IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK (THE "COURT").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the City of Providence ("Lead Plaintiff"), on behalf of itself and the Class, and Aeropostale, Thomas P. Johnson and Marc D. Miller (collectively, "Defendants"), have reached a proposed settlement in the above-captioned action (the "Action") in the amount of $15,000,000 in cash (the "Settlement Amount"), that, if approved, will resolve all claims in the Action (the "Settlement").

A hearing will be held before the Honorable Colleen McMahon of the United States District Court for the Southern District of New York in the Daniel Patrick Moynihan United States Courthouse, Courtroom 14C, 500 Pearl Street, New York, NY 10007-1312 at 10:00 a.m. on May 9, 2014 to, among other things, determine whether (1) the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (2) this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated January 29, 2014; (3) the proposed Plan of Allocation for distribution of the Settlement Amount, and any interest thereon, less Court-awarded attorneys' fees, Notice and Administration Expenses, Taxes, and any other costs, fees, or expenses approved by the Court (the "Net Settlement Fund") should be approved as fair and reasonable; and (4) the application of Lead Counsel for an award of attorneys' fees and reimbursement of litigation expenses should be approved.  The Court may change the date of the hearing without providing another notice.  You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND.  If you have not yet received the full Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys' Fees and Expenses (the "Notice") and a Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator or visiting its website:

AEROPOSTALE SETTLEMENT
c/o A.B. Data, Ltd.
PO Box 170500
Milwaukee, WI, 53217-8091
Telephone:  866-963-9973
www.aeropostalesettlement.com

Inquiries, other than requests for the aforementioned documents or for information about the status of a claim, may also be made to Lead Counsel:

LABATON SUCHAROW LLP
Jonathan Gardner, Esq.
140 Broadway
New York, NY 10005
Telephone:  888-219-6877
www.labaton.com
[email protected]

If you are a Class Member, to be eligible to share in the distribution of the settlement proceeds, you must submit a Proof of Claim postmarked or received no later than June 20, 2014.  If you are a Class Member and do not timely submit a valid Proof of Claim, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action. 

To exclude yourself from the 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 April 18, 2014.  If you are a Class Member and do not exclude yourself from the Class, you will be bound by any judgments or orders entered by the Court in the Action. 

Any objections to the proposed Settlement, Plan of Allocation, and/or application for attorneys' fees and reimbursement of expenses must be mailed to counsel for the Parties in accordance with the instructions set forth in the Notice, such that they are received no later than April 18, 2014, and filed with the Court no later than April 18, 2014. 

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR DEFENDANTS' 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 at the address listed above.

SOURCE Labaton Sucharow LLP

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