WageWorks Inc. Settlement - Summary Notice Of Pendency And Class Action Settlement And Motion For Attorneys' Fees And Expenses

PHILADELPHIA, June 1, 2021 /PRNewswire/ -- The following statement is being issued by Barrack, Rodos & Bacine regarding the WageWorks, Inc. Class Action Settlement.

TO:  ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF WAGEWORKS, INC. BETWEEN MAY 6, 2016 AND MARCH 1, 2018, BOTH DATES INCLUSIVE, AND WHO WERE DAMAGED THEREBY.
-OR-
ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF WAGEWORKS, INC. ISSUED PURSUANT TO OR TRACEABLE TO THE REGISTRATION STATEMENT AND PROSPECTUS FOR WAGEWORKS' PUBLIC OFFERING ON JUNE 19, 2017 (THE "OFFERING" OR "JUNE 2017 OFFERING") AND WERE DAMAGED THEREBY.
(COLLECTIVELY THE "SETTLEMENT CLASS").

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, Oakland Division, that a settlement between Lead Plaintiffs, the Public Employees' Retirement System of Mississippi, the Government Employees' Retirement System of the Virgin Islands, and the Public Employees Retirement System of New Mexico (collectively "Lead Plaintiffs"), and WageWorks, Inc. ("WageWorks"), Joseph L. Jackson, Colm M. Callan, Robert L. Metzger, Mariann Byerwalter, Thomas A. Bevilacqua, Bruce G. Bodaken, Jerome D. Gramaglia and John W. Larson (collectively "Defendants") in the amount of $30,000,000 (the "Settlement") has been proposed.

A hearing will be held before the Honorable Jeffrey S. White, United States District Judge, on August 20, 2021 at 9:00 a.m. in Courtroom 5 of the United States District Court for the Northern District of California, Oakland Courthouse, 1301 Clay Street, Oakland, CA 94612 for the purpose of determining, among other things, (i) whether the proposed Settlement is fair, reasonable, and adequate and should be approved; (ii) whether, thereafter, this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated as of April 1, 2021; (iii) whether the Plan of Allocation of the Net Settlement Fund is fair and reasonable and should be approved; and (iv) the reasonableness of the application of Lead Counsel for the payment of Lead Counsels' attorneys' fees and expenses, with interest, incurred in connection with this Action. The Court has reserved the right to reschedule the hearing without further notice.

If you are a member of the Settlement Class described above, your rights may be affected by this Action and the proposed Settlement thereof. If you have not received the detailed Notice of Pendency and Proposed Class Action Settlement and Motion for Attorneys' Fees and Expenses (the "Notice") and Proof of Claim form, you may obtain them from www.wageworkssettlement.com or by contacting the Claims Administrator:

WageWorks, Inc. Securities Litigation
P.O. Box 147
Warminster, PA 18974-0147
www.wageworkssettlement.com

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:

BARRACK, RODOS & BACINE
STEPHEN R. BASSER
SAMUEL M. WARD
One America Plaza
600 West Broadway, Suite 900
San Diego, CA 92101
(619) 230-0800

or

JEFFREY A. BARRACK
Two Commerce Square
2001 Market Street, Suite 3300
Philadelphia, PA 19103
(215) 963-0600
www.barrack.com
[email protected]

If you are a member of the Settlement Class and wish to share in the Settlement proceeds, you must submit a Proof of Claim postmarked or received no later than September 14, 2021 establishing that you are entitled to recovery. As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, no later than July 30, 2021. Any objections to the Settlement, Plan of Allocation, or Lead Counsel's request for attorneys' fees and expenses must be filed and served, in accordance with the procedures set forth in the Notice, such that they are received no later than July 30, 2021.

This is only a summary. For details, including information on objecting or filing an opt-out, or to file a claim, visit the settlement website, www.wageworkssettlement.com, or call the Claims Administrator at 1-833-326-0773.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE ABOUT THIS NOTICE.
ORDER DATED: May 3, 2021

SOURCE Barrack, Rodos & Bacine

Related Links

http://www.wageworkssettlement.com

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