HOUSTON, May 5, 2017 /PRNewswire/--
IN THE UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF TEXAS
IN RE KBR, INC. SECURITIES LITIGATION
Case No. 4:14-CV-01287
Judge Lee H. Rosenthal
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED
SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES
To: All Persons and Entities Who Purchased or Otherwise Acquired the Publicly Traded Common Stock of KBR, Inc. ("KBR") During the Period from September 11, 2013 through July 30, 2014, Inclusive (the "Class Period"), and Who Were Damaged Thereby (the "Class").
PLEASE READ THIS NOTICE CAREFULLY. IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, in accordance with Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of Texas, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Class, except for certain persons and entities who are excluded from the Class by definition as set forth in the full printed Notice of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys' Fees and Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that the Court-appointed Class Representatives Arkansas Public Employees Retirement System and IBEW Local No. 58 / SMC NECA Funds, on behalf of themselves and the Class, and Defendants KBR, William P. Utt, Susan K. Carter, Dennis S. Baldwin, and Brian K. Ferraioli (collectively, "Defendants") have reached a proposed settlement of the Action in the amount of $10,500,000 in cash that, if approved by the Court, will resolve all claims in the Action (the "Settlement").
A hearing will be held before the Honorable Lee H. Rosenthal of the United States District Court for the Southern District of Texas in the United States Courthouse, Courtroom 11-B, 515 Rusk Avenue, Houston, TX 77002 at 2:00 p.m. on July 25, 2017 (the "Settlement Hearing") to, among other things, determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated as of April 5, 2017; (iii) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (iv) approve Class Counsel's application for an award of attorneys' fees and payment of expenses. The Court may change the date of the Settlement Hearing without providing another notice. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.
IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received the Notice and Proof of Claim and Release form ("Claim Form"), you may obtain copies of these documents by visiting the website dedicated to the Action, www.KBRSecuritiesLitigation.com, or by contacting the Claims Administrator at:
KBR Securities Litigation
P.O. Box 4290
Portland, OR 97208-4290
Inquiries, other than requests for the Notice/Claim Form or for information about the status of a claim, may also be made to Class Counsel:
Louis Gottlieb, Esq.
LABATON SUCHAROW LLP
New York, NY 10005
John Rizio-Hamilton, Esq.
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
1251 Avenue of the Americas, 44th Floor
New York, NY 10020
If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or received no later than August 19, 2017. If you are a Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court in the Action, whether favorable or unfavorable.
If you are a Class Member and wish to exclude yourself from the Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than July 4, 2017. If you properly exclude yourself from the Class, you will not be bound by any judgments or orders entered by the Court in the Action, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.
Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Class Counsel's application for attorneys' fees and payment of expenses must be filed with the Court and mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are filed and received no later than July 4, 2017.
PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE.
All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to the Claims Administrator or Class Counsel.
DATED: May 5, 2017
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF TEXAS
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SOURCE Labaton Sucharow LLP; Bernstein Litowitz Berger & Grossmann LLP