Notice of Pendency and Proposed Settlement of Class Action Involving Persons or Entities Who Purchased HRG Group, Inc. Common Stock from January 26, 2017 to July 13, 2018

SEATTLE, Dec. 20, 2021 /PRNewswire/ --

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF WISCONSIN

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 LITIGATION EXPENSES

This notice is for all persons and entities that purchased common stock of HRG Group, Inc. from January 26, 2017 to July 13, 2018, and were damaged thereby (the "HRG Subclass"). Certain persons and entities are excluded from the Spectrum Subclass by definition, as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Litigation Expenses (the "Notice"), available at www.HRGSecuritiesLitigation.com.

YOUR RIGHTS WILL 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 Western District of Wisconsin (the "Court"), that the above-captioned securities class action (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that Lead Plaintiff Jet Capital Master Fund, L.P., on behalf of itself and the HRG Subclass, have reached a proposed settlement of all claims asserted in the Action by members of the HRG Subclass for $7,250,000 in cash (the "Settlement").

PLEASE NOTE: You may have received notice of a previous proposed settlement of this Action in late 2020. That earlier proposed settlement was not approved by the Court. The prior settlement has been withdrawn and is no longer before the Court. That previously proposed settlement included claims arising from purchases of Spectrum Brands Legacy, Inc. ("Old Spectrum") common stock and Spectrum Brands Holdings, Inc. ("Spectrum") common stock. The new Settlement relates only to claims arising from the purchases of HRG common stock. The claims arising from purchases of Spectrum or Old Spectrum common stock will not be settled or released by this newly proposed Settlement.

A hearing (the "Settlement Fairness Hearing") will be held on  March 18, 2022 at 10:00 a.m., before the Honorable James D. Peterson either in person at the United States District Court for the Western District of Wisconsin, Courtroom 260, United States Courthouse, 120 North Henry Street, Madison, WI 53703, or by telephone or video conference (in the discretion of the Court), to determine, among other things: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the HRG Subclass, Lead Plaintiff should be certified as Class Representative for the HRG Subclass, and Lead Counsel should be appointed as Class Counsel for the Spectrum Subclass; (iii) whether the claims in the Action asserted by the HRG Subclass should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement, dated October 8, 2021 (and in the Notice) should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; (v) whether Lead Counsel's application for an award of attorneys' fees and expenses should be approved; and (vi) any other matters that may properly be brought before the Court in connection with the Settlement.

The ongoing COVID-19 health emergency is a fluid situation that creates the possibility that the Court may decide to conduct the Settlement Fairness Hearing by video or telephonic conference, or otherwise allow HRG Subclass Members to appear at the hearing by phone or video, without further written notice to the HRG Subclass. In order to determine whether the date and time of the Settlement Fairness Hearing have changed, or whether HRG Subclass Members must or may participate by phone or video, it is important that you monitor the Court's docket and the Settlement website, www.HRGSecuritiesLitigation.com, before making any plans to attend the Settlement Fairness Hearing. Any updates regarding the Settlement Fairness Hearing, including any changes to the date or time of the hearing or updates regarding in- person or telephonic appearances at the hearing, will be posted to the Settlement website, www.HRGSecuritiesLitigation.com. Also, if the Court requires or allows Spectrum Subclass Members to participate in the Settlement Fairness Hearing by telephone or video conference, the information needed to access the conference will be posted to the Settlement website, www.HRGSecuritiesLitigation.com.

If you are a member of the HRG Subclass, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Net 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: HRG Securities Litigation, c/o JND Legal Administration, P.O. Box 91427, Seattle, WA 98111, 1-888-921-1535, [email protected]. Copies of the Notice and Claim Form can also be downloaded from the Settlement website, www.HRGSecuritiesLitigation.com.

If you are a member of the HRG Subclass and previously submitted a Claim Form in connection with the earlier proposed settlement in In re Spectrum Brands Securities Litigation, No. 19-cv-347-jdp, do not do so again. Your earlier Claim Form will be considered for participation in this Settlement. If you are a Spectrum Subclass Member and did NOT previously submit a Claim Form you must submit a Claim Form postmarked no later than January 25, 2022 to be eligible to participate in the Settlement. If you are not certain whether you previously submitted a Claim Form, you may contact the Claims Administrator at 1-888-921-1535 to confirm.

If you are a member of the HRG Subclass and wish to exclude yourself from the HRG Subclass, you must submit a request for exclusion such that it is received no later than February 22, 2022, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the HRG Subclass, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to receive a payment from the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and expenses must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than February 22, 2022, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Office of the Clerk of the Court, Defendants, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to the Claims Administrator or Lead Counsel.  Visit www.HRGSecuritiesLitigation.com or call toll-free 1-888-921-1535.

Requests for the Notice and Claim Form should be made to:

HRG Securities Litigation  
c/o JND Legal Administration
P.O. Box 91427
Seattle, WA 98111
1-888-921-1535
[email protected]
www.HRGSecuritiesLitigation.com

Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:

Lawrence M. Rolnick, Esq.
Rolnick Kramer Sadighi LLP
1251 Avenue of the Americas, 41st Floor
New York, NY 10020
212-597-2800
[email protected]

By Order of the Court

SOURCE JND Legal Administration

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