Saxena White P.A. and Cohen Milstein Sellers & Toll PLLC Announce Proposed Class Action Settlement in the Credit Suisse Securities Litigation
NEW YORK, Sept. 28, 2020 /PRNewswire/ --
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
CITY OF BIRMINGHAM RETIREMENT AND RELIEF SYSTEM, et al.,
Plaintiff,
v.
CREDIT SUISSE GROUP AG, et al.,
Defendants. |
) ) ) ) ) ) ) ) ) ) |
Case No.: 1:17-cv-10014-LGS
CLASS ACTION
|
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, AND PROPOSED SETTLEMENT OF CLASS ACTION; (II) SETTLEMENT HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities who, during the period from March 20, 2015, through February 3, 2016, inclusive (the "Settlement Class Period"), purchased or otherwise acquired Credit Suisse Group AG ("Credit Suisse") American Depositary Receipts, and were allegedly damaged thereby (the "Settlement Class"):
PLEASE READ THIS NOTICE CAREFULLY, 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 Southern District of New York, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class as set forth in the full printed Notice Of (I) Pendency Of Class Action, Certification Of Settlement Class, And Proposed Settlement of Class Action; (II) Settlement Hearing; And (III) Motion For An Award Of Attorneys' Fees And Reimbursement Of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed settlement of the Action for $15,500,000.00 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on December 10, 2020 at 11:30 a.m., at the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, Courtroom 1106, 40 Foley Square, New York, NY 10007, or by telephonic, video conferencing or other electronic means, as posted on the website of the Claims Administrator. The hearing will determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Amended Stipulation And Agreement Of Settlement (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of Litigation Expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the 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 Credit Suisse Securities Litigation, Claims Administrator, PO Box 4129, Portland, OR 97208-4129, (855) 907-2119. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.CreditSuisseSecuritiesLitigation.com.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment under the proposed Settlement, you must submit a Claim Form online at the Settlement website or by mail. The Claim Form must be submitted or postmarked no later than January 20, 2021. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than November 19, 2020, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to representatives of Lead Counsel and Defendants' Counsel such that they are received no later than November 19, 2020, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Credit Suisse, 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 or the Claims Administrator.
Requests for the Notice and Claim Form should be made to:
Credit Suisse Securities Litigation, Claims Administrator
PO Box 4129,
Portland, OR 97208-4129
(855) 907-2119
www.CreditSuisseSecuritiesLitigation.com
[email protected]
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
SAXENA WHITE P.A.
Adam Warden
7777 Glades Road, Suite 300
Boca Raton, FL 33434
[email protected]
COHEN MILSTEIN SELLERS & TOLL PLLC
Molly J. Bowen
1100 New York Ave., Suite 500
Washington, DC 20005
[email protected]
Dated: September 28, 2020
By Order of the Court
United States District Court
Southern District of New York
URL/ www.CreditSuisseSecuritiesLitigation.com
SOURCE United States District Court, Southern District of New York
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