Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Flow International Corporation Shareholder Litigation

KENT, Wash., Oct. 27, 2016 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Flow International Corporation Shareholder Litigation:  

IN THE SUPERIOR COURT OF THE STATE OF WASHINGTON
IN AND FOR KING COUNTY

TO:      ALL HOLDERS OF COMMON STOCK OF FLOW INTERNATIONAL CORPORATION ("FLOW") AT ANY TIME FROM SEPTEMBER 25, 2013 THROUGH AND INCLUDING JANUARY 31, 2014

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on January 20, 2017, at 8:30 a.m., before the Honorable Veronica A. Galván at the Superior Court of the State of Washington, King County, Department 21, 401 Fourth Avenue North, Kent, WA 98032 (the "Settlement Fairness Hearing") to determine whether: (1) the proposed Settlement as set forth in the Stipulation of Settlement dated September 7, 2016 (the "Stipulation")¹ to settle Plaintiffs' and the Class' claims in connection with the above-captioned action (the "Litigation") for $12,750,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) to award Class Counsel attorneys' fees and expenses out of the Settlement Fund (as defined in the Notice of Pendency and Settlement of Class Action (the "Notice"), which is discussed below); and (3) the Plan of Allocation should be approved by the Court, as fair, reasonable and adequate.  The Court may adjourn or continue the Settlement Fairness Hearing without further notice to the Class.

If you held Flow common stock at any time from September 25, 2013 through and including January 31, 2014, your rights may be affected by the Settlement of this Litigation.  If you have not received a detailed Notice and a copy of the Proof of Claim and Release form ("Proof of Claim"), you may obtain copies by writing to Flow Shareholder Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 30243, College Station, TX 77842-3243, or you can download a copy at www.flowshareholderlitigation.com.

If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must establish your rights by submitting a Proof of Claim by mail (postmarked no later than January 18, 2017) or electronically no later than January 18, 2017.  Your failure to submit your Proof of Claim by January 18, 2017 will subject your claim to rejection and preclude your receiving any of the recovery in connection with the settlement of the Litigation.  You will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED NO LATER THAN DECEMBER 15, 2016 IN THE MANNER AND FORM EXPLAINED IN THE NOTICE REFERRED TO ABOVE.  ALL CLASS MEMBERS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT ENTERED IN THE LITIGATION EVEN IF THEY DO NOT FILE A TIMELY PROOF OF CLAIM.

Inquiries regarding the Settlement or the Litigation should be made to a representative of Class Counsel:

ROBBINS GELLER RUDMAN
     & DOWD LLP
Shareholder Relations
Rick Nelson
655 West Broadway, Suite 1900
San Diego, CA 92101
Phone: 800-449-4900

Please do not contact Defendants, the Court, or the Clerk of the Court.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, AND/OR THE REQUEST BY CLASS COUNSEL FOR AN AWARD OF ATTORNEYS' FEES AND EXPENSES.  ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO CLASS COUNSEL AND COUNSEL FOR DEFENDANTS BY DECEMBER 15, 2016 IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

¹ The Stipulation and its exhibits can be downloaded at www.flowshareholderlitigation.com.

SOURCE Robbins Geller Rudman & Dowd LLP