Pomerantz LLP, and Bernstein Litowitz Berger & Grossmann LLP Announce a 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 in the In re Lumber Liquidators Holdings, Inc. Securities Litigation
NEW YORK, July 29, 2016 /PRNewswire/ --
IN THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF VIRGINIA
Newport News Division
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Master No. 4:13-cv-00157-AWA-DEM |
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IN RE LUMBER LIQUIDATORS |
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Hon. Arenda L. Wright Allen |
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HOLDINGS, INC. SECURITIES |
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LITIGATION |
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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
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All persons or entities who, during the Settlement Class Period from February 22, 2012, through February 27, 2015, inclusive (the "Settlement Class Period") purchased or otherwise acquired the common stock of Lumber Liquidators Holdings, Inc. ("Lumber Liquidators") ("Lumber Liquidators Common Stock") or exchange traded call options on Lumber Liquidators Common Stock ("Lumber Liquidators Call Options"), or sold exchange traded put options on Lumber Liquidators Common Stock ("Lumber Liquidators Put Options"), and were damaged thereby. |
PLEASE READ THIS NOTICE CAREFULLY. IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT.
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 Eastern District of Virginia, Newport News Division, that the parties in the above-captioned litigation (the "Action") have reached a proposed settlement for $26,000,000 in cash and 1,000,000 shares of Lumber Liquidators common stock (the "Settlement"), that, if approved, will resolve all claims in the Action.
YOU ARE ALSO NOTIFIED that the Action has been certified for settlement purposes only as a class action on behalf of the Settlement Class. Certain persons and entities are, however, 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"), which more completely describes the Settlement and your rights thereunder. If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at In re Lumber Liquidators Holdings, Inc. Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173013, Milwaukee, WI 53217, (877) 234-5462. Copies of the Notice and Claim Form can also be downloaded from www.LumberLiquidatorsSecuritiesLitigation.com.
A hearing will be held on November 17, 2016 at 10:00a.m., before the Honorable Arenda L. Wright Allen at the United States District Court for the Eastern District of Virginia, Courtroom 3 of the Walter E. Hoffman United States Courthouse, 600 Granby Street, Norfolk, VA 23510, 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 Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.
If you are a member of the Settlement Class, to be potentially eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than November 19, 2016. 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 October 27, 2016, 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 Lead Counsel and Defendants' Counsel such that they are received no later than October 27, 2016, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Lumber Liquidators, 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 Claim Form, should be made to Lead Counsel:
POMERANTZ LLP
Jeremy A. Lieberman, Esq.
600 Third Avenue, 20th Floor
New York, NY 10016
(212) 611-1100
[email protected]
-or-
BERNSTEIN LITOWITZ BERGER
& GROSSMANN LLP
David R. Stickney, Esq.
2481 High Bluff Drive, Suite 300
San Diego CA 92130
(866) 648-2524
[email protected]
Requests for the Notice and Claim Form should be made to:
In re Lumber Liquidators Holdings, Inc. Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173013
Milwaukee, WI 53217
(877) 234-5462
[email protected]
www.LumberLiquidatorsSecuritiesLitigation.com
By Order of the Court
SOURCE Pomerantz LLP and Bernstein Litowitz Berger & Grossmann LLP
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