Simpluris Inc: If you purchased or otherwise acquired the common stock of Mohawk Industries, Inc. ("Mohawk") in the Mohawk Industries Retirement Plan 1 and/or the Mohawk Industries Retirement Plan 2 (collectively "the Plan") between April 27, 2017, and July 25, 2019, ("Class Period"), a class action settlement may affect your rights and make you eligible for a cash payment

News provided by

Mar 18, 2024, 11:56 ET

A court has authorized this notice. This is not a solicitation from a lawyer.
Please read this notice carefully and completely.

COSTA MESA, Calif., March 18, 2024 /PRNewswire/ -- Simpluris Inc. announces that a proposed settlement has been reached in a class action lawsuit known as Evans v. Mohawk Industries, Inc., Case No. N20C-01-259 KMM (the "Action"), and the Court in charge of the case is the Superior Court for the State of Delaware.

This is a class action on behalf of all those who purchased or acquired Mohawk common stock in the Mohawk Industries Retirement Plan 1 and/or the Mohawk Industries Retirement Plan 2 (collectively "the Plan") between April 27, 2017, and July 25, 2019, (the "Class Period"). Mohawk stock is traded on the New York Stock Exchange as MHK.

The Plaintiff accuses Mohawk of misrepresenting important information about its financial state in violation of certain laws, including the Securities Act of 1933. Mohawk denies that it has done anything wrong. To avoid the additional cost, disruption, uncertainty, and delay of continuing this lawsuit, the parties have agreed to a settlement. Complete information, including the filed Complaint and the Stipulation of Settlement is available on the settlement website at www.MohawkESPPPlanClassActionSettlement.com.

What does the Settlement provide? The proposed Settlement calls for Mohawk to create a Settlement Fund of $1,000,000.00 to compensate Class Members. A portion of the Settlement Fund will be used to pay Plaintiff's attorneys' fees, the costs and expenses of the litigation, a case contribution award for the named Plaintiff, taxes, and the costs of administering this settlement. The money remaining in the Fund after these deductions have been made is called the Net Settlement Fund. The Net Settlement Fund will be distributed to Class Members who are entitled to a share of the Fund. The Court must approve the Settlement.

Your share of the Net Settlement Fund depends on: (i) the date(s) you purchased or acquired Mohawk stock and the date(s) you sold Mohawk stock in the Plan; (ii) the price(s) of your Mohawk stock purchased or sold in the Plan during the Class Period; (iii) and the total amount of the costs described above. Mohawk stock is traded on the New York Stock Exchange as MHK.

The Net Settlement Fund will be distributed to Class Members according to the Plan of Allocation. If you are a member of the Class and are entitled to receive a share of the Net Settlement Fund, you will either receive your share by direct deposit into your existing Plan account, or, if you no longer have an existing Plan account, a check will be sent to you at the last address on file with the Plan. If you have changed your address, contact the Claims Administrator at [email protected] or write to Mohawk ESPP Plan Class Action Settlement, Claims Administrator, P.O. Box 25226, Santa Ana, CA 92799. Complete information, including the proposed Plan of Allocation of the Net Settlement Fund is available settlement website at www.MohawkESPPPlanClassActionSettlement.com.

How do I know if I am a Class Member? If you are not sure whether you are a Class Member, contact the Claims Administrator at [email protected], write to Mohawk ESPP Plan Class Action Settlement, Claims Administrator, P.O. Box 25226, Santa Ana, CA 92799, or review the information on the settlement website at www.MohawkESPPPlanClassActionSettlement.com.

How do I get my payment? If you are a Class Member and are entitled to receive a share of the distribution of the Net Settlement Fund, you will either receive your share by direct deposit into your existing Plan account, or, if you no longer have an existing Plan account, a check will be sent to you at the last address on file with the Plan. If you have changed your address, contact the Claims Administrator at [email protected] or write to Mohawk ESPP Plan Class Action Settlement, Claims Administrator, P.O. Box 25226, Santa Ana, CA 92799.

What are my options? If you take no action, you will receive a payment if you are entitled to one, either by direct deposit into your existing Plan account, or by a check mailed to the last address on file with the Plan or to a new address that you submit to the Claims Administrator.

The proposed Settlement is a non-opt out Settlement. Any objection to the Settlement, Plan of Allocation, Plaintiff's Counsel's request for an award of attorneys' fees and reimbursement of case-related fees and/or expenses, or the Plaintiff's case contribution award, must be in the manner and form explained in the Detailed Notice and mailed to the Court at its address above and mailed no later than April 18, 2024, to each of the following:

Plaintiff's Counsel: Thomas J. McKenna, Gregory M. Egleston, Gainey McKenna & Egleston, 260 Madison Avenue, 22nd Floor, New York, NY 10016, Telephone: (212) 983-1300, Facsimile: (212) 983-0383

Defendants' Counsel: Elizabeth Gingold Clark, One Atlantic Center, 1201 West Peachtree Street, Atlanta, GA 30309-3424, Telephone: (404) 881-7132, Facsimile: (404) 881-7777

The Detailed Notice is available on the settlement website at www.MohawkESPPPlanClassActionSettlement.com.

If you wish to attend the Settlement Fairness Hearing and be heard in opposition to the Settlement, the Plan of Allocation, and/or the application for Fee and Expenses, you are required to indicate in your written objection that you intend to appear at the Settlement Fairness Hearing. Your written objection must identify any witnesses you may call to testify or exhibits you intend to introduce into evidence at the Settlement Fairness Hearing.

Do I have a lawyer in this case? The Court has appointed Gainey McKenna & Egleston as Class Counsel to represent the Class Members for the purposes of this Settlement. You have the option to retain your own separate counsel at your own cost and expense, but you do not need to. You also do not need your own separate counsel to object or appear at the Settlement Fairness Hearing.

When and where will the Court decide whether to approve the Settlement? The Court will hold a Settlement Fairness Hearing in person on May 29, 2024, at 2:00 p.m., before The Honorable Kathleen M. Miller, at the Superior Court of the State of Delaware, 500 North King Street, Wilmington, Delaware 19801. If the date or method of holding the Settlement Fairness Hearing changes, the new information will be posted to the settlement website at www.MohawkESPPPlanClassActionSettlement.com.

At this Settlement Fairness Hearing, the Court will consider whether the Settlement is fair, reasonable, and adequate and whether to approve the Settlement. If there are objections, the Court will consider them, and the Court will listen to people who have asked to speak at the hearing. The Court may also decide how much to award Plaintiff's Counsel for attorneys' fees, expenses, and a case contribution award for the Class Representative.

For complete information, visit the settlement website at
www.MohawkESPPPlanClassActionSettlement.com
or contact the Claims Administrator at [email protected].

SOURCE Simpluris Inc.