Monteverde & Associates PC Announces Proposed Class Action Settlement on Behalf of Holders of EMC Insurance Group Inc. Common Stock

NEW YORK, Feb. 3, 2023 /PRNewswire/ --

SUMMARY NOTICE

TO: ALL RECORD HOLDERS AND ALL BENEFICIAL HOLDERS OF EMC INSURANCE GROUP INC. ("EMCI" OR THE "COMPANY") COMMON STOCK WHO PURCHASED, SOLD, OR HELD SUCH STOCK AT ANY TIME DURING THE PERIOD FROM AND INCLUDING JULY 1, 2018, BEFORE THE MERGER AGREEMENT WAS EXECUTED CONCERNING THE MERGER BETWEEN EMPLOYERS MUTUAL CASUALTY COMPANY ("EMCC") AND EMCI ("THE TRANSACTION"), THROUGH AND INCLUDING SEPTEMBER 19, 2019, THE DATE THE TRANSACTION WAS CONSUMMATED ("CLOSING DATE"), INCLUDING ANY AND ALL OF THEIR RESPECTIVE PREDECESSORS, SUCCESSORS, TRUSTEES, EXECUTORS, ADMINISTRATORS, ESTATES, LEGAL REPRESENTATIVES, HEIRS, ASSIGNS AND TRANSFEREES (THE "SETTLEMENT CLASS").

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Iowa District Court for Polk County that a hearing will be held on May 8, 2023, at 10:00 a.m. Central Time (the "Settlement Hearing"), before the Honorable Lawrence P. McLellan. Settlement Class Members should check the Settlement Class website in advance of the Settlement Hearing to determine whether that hearing will occur in person at the Iowa District Court for Polk County, Polk County Courthouse, 500 Mulberry Street, Des Moines, Iowa 50309, or via a remote link. The Settlement Hearing will be held for the purpose of determining: (a) whether the Court should grant final approval of the proposed Settlement of $1.65 million on the terms and conditions provided for in the Stipulation as fair, reasonable, and adequate, and in the best interests of the Settlement Class Members; (b) whether the Settlement Class should be finally certified for purposes of Settlement, and whether the designation of Plaintiff as Class Representative, Plaintiff's Counsel as Co-Class Counsel, and Monteverde & Associates P.C. as Lead Counsel should be made final; (c) whether the Court should approve the Plan of Allocation of the Settlement as fair, reasonable, and adequate, and in the best interests of the Settlement Class Members; (d) whether the Court should enter an Order and Final Judgment dismissing the Action on the merits and with prejudice as to the Defendants and effectuating the releases described in the Stipulation; (e) whether the application of Lead Counsel for the payment of attorneys' fees and expenses and an incentive award for Plaintiff should be approved; and (f) such other matters as may properly come before the Court.

IF YOU PURCHASED, SOLD, OR HELD EMCI COMMON STOCK DURING THE PERIOD FROM AND INCLUDING JULY 1, 2018, THROUGH AND INCLUDING SEPTEMBER 19, 2019 (THE "SETTLEMENT CLASS PERIOD"), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF EMCI COMMON STOCK DURING THE SETTLEMENT CLASS PERIOD. 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, you may obtain copies by writing to EMC Insurance Group Inc. Merger Litigation, c/o RG/2 Claims Administration LLC, P.O. Box 59479, Philadelphia, PA 19102-9479, 1-866-742-4955, or on the Internet at www.rg2claims.com/emc.html. If you are a Settlement Class member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail (postmarked no later than June 3, 2023), or online at www.rg2claims.com/emc.html no later than June 3, 2023, establishing that you are entitled to recovery.

If you purchased, sold, or held EMCI common stock during the Settlement Class Period and you desire to be excluded from the Settlement Class, you must submit a request for exclusion so that it is received no later than April 17, 2023, in the manner and form explained in the detailed Notice referred to above. All Settlement Class members who do not timely and validly request exclusion from the Settlement Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation and Agreement of Compromise, Settlement, and Release.

Any objection to the Settlement, the Plan of Allocation, Plaintiff's Counsel's request for the payment of attorney's fees and expenses, and any incentive award to Plaintiff must be received by each of the following recipients via hard copy and email no later than April 17, 2023:

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Monteverde & Associates PC, at the address listed above.

SOURCE Monteverde & Associates PC

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