SAN DIEGO, Aug. 27, 2015 /PRNewswire/ -- The following statement is being issued by Bernstein Litowitz Berger & Grossmann LLP regarding the Invacare Securities Class Action Settlement.
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF OHIO
GOVERNMENT OF GUAM RETIREMENT FUND, et al., Plaintiff,
INVACARE CORPORATION, et al., Defendants.
Case No. 1:13CV1165
JUDGE CHRISTOPHER A. BOYKO
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities who or which purchased or otherwise acquired the publicly traded common stock of Invacare Corporation ("Invacare") between February 27, 2009, and December 7, 2011, inclusive, 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 Northern District of Ohio, 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 by definition as set forth in the full printed Notice of (I) Pendency of Class Action, Certification of Settlement Class, and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Lead Plaintiff in the Action has reached a proposed settlement of the Action for $11,000,000.00 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on November 19, 2015 at 2:00 p.m., before the Honorable Christopher A. Boyko at the United States District Court, Northern District of Ohio, Eastern Division, Courtroom 15B of the Carl B. Stokes United States Court House, 801 West Superior Avenue, Cleveland, Ohio 44113, to 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 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 the application for an award of attorneys' fees and reimbursement of Litigation Expenses to be filed on behalf of Lead Counsel Bernstein Litowitz Berger & Grossmann LLP and Local Counsel Climaco, Wilcox, Peca, Tarantino & Garofoli Co., L.P.A. (collectively, "Plaintiffs' Counsel") 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 the Proof of Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at Invacare Class Action Settlement, c/o GCG, P.O. Box 10209, Dublin, Ohio 43017-3909, toll-free 1-888-821-7768. Copies of the Notice and Proof of Claim Form can also be downloaded from the website maintained by the Claims Administrator, at www.InvacareSecuritiesClassActionSettlement.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 Proof of Claim Form postmarked no later than December 22, 2015. If you are a Settlement Class Member and do not submit a proper Proof of 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 October 29, 2015, 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 Plaintiffs' Counsel's motion for attorneys' fees and reimbursement of Litigation Expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than October 29, 2015, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Invacare, or its 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.
Inquiries, other than requests for the Notice and Proof of Claim Form, should be made to Lead Counsel:
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
Blair A. Nicholas, Esq.
Niki L. Mendoza, Esq.
12481 High Bluff Drive, Suite 300
San Diego, CA 92130
Requests for the Notice and Proof of Claim Form should be made to:
Invacare Securities Class Action Settlement
P.O. Box 10209
Dublin, OH 43017-3909
By Order of the Court
SOURCE Bernstein Litowitz Berger & Grossmann LLP