SUMMARY NOTICE OF CLASS ACTION DETERMINATION,
PROPOSED SETTLEMENT, AND HEARING ON SETTLEMENT
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED TILE SHOP HOLDINGS, INC. COMMON STOCK BETWEEN AUGUST 22, 2012 AND JANUARY 28, 2014, INCLUSIVE (THE "CLASS")
Certain persons and entities are excluded from the definition of the Class as set forth in detail in the Stipulation of Settlement dated January 13, 2017 (the "Stipulation") and the Notice described below, which both can be viewed and/or downloaded at www.tileshopsecuritiessettlement.com.
Please read this notice carefully. If you are a member of the 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 described below.
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 District of Minnesota, that the parties to the above-captioned action (the "Action") have reached a proposed settlement for $9,500,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action. A hearing will be held on May 3, 2017 at 10:00 a.m., before The Honorable Ann D. Montgomery at the United States District Court for the District of Minnesota, 13W U.S. Courthouse, 300 South Fourth Street, Minneapolis, MN 55415, to determine whether: (i) the Settlement should be approved as fair, reasonable, and adequate; (ii) the Action should be dismissed with prejudice against Defendants, and the releases set forth in the Stipulation (and Notice described below) should be granted; (iii) the Plan of Distribution should be approved as fair and reasonable; and (iv) Class Counsel's application for attorneys' fees and expenses, including Lead Plaintiffs' request for reimbursement of costs and expenses in connection with their representation of the Class, should be approved.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING ACTION AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. A detailed Notice of Class Action Determination, Proposed Settlement, and Hearing on Settlement ("Notice") and Proof of Claim and Release Form ("Claim Form") are currently being mailed to Class Members explaining Class Members' rights in connection with the Action and Settlement and the process for submitting a Claim Form. If you have not yet received the detailed Notice and Claim Form, you may obtain copies of these documents by visiting www.tileshopsecuritiessettlement.com, or by contacting the Claims Administrator at:
Tile Shop Securities Litigation Settlement
c/o Gilardi & Co. LLC
P.O. Box 43451
Providence, RI 02940-3451
Inquiries, other than requests for the Notice and Claim Form, may be made to Court-appointed Class Counsel:
Matthew Mustokoff, Esq.
KESSLER TOPAZ MELTZER &
280 King of Prussia Road
Radnor, PA 19087
Telephone: (610) 667-7706
ROBBINS GELLER RUDMAN &
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: (800) 449-4900
If you are a member of the Class, in order to be eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked or submitted online no later than May 3, 2017. If you are a 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 Class and wish to exclude yourself from the Class, you must submit a request for exclusion such that it is postmarked no later than April 3, 2017, in accordance with the instructions set forth in the Notice. 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 and you will not be eligible to share in the proceeds of the Settlement.
If you are a Class Member, you have the right to object to the Settlement, the Plan of Distribution of the net settlement proceeds, Class Counsel's motion for attorneys' fees and expenses, and/or Lead Plaintiffs' request for reimbursement of costs and expenses. Any objections must be filed with the Court and delivered to Class Counsel and representative Defendants' Counsel such that they are received no later than April 3, 2017, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Defendants, or their counsel regarding this notice. All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to Class Counsel or the Claims Administrator as listed above.
DATED: January 19, 2017
BY ORDER OF THE COURT
United States District Court
District of Minnesota
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/robbins-geller-rudman--dowd-llp-and-kessler-topaz-meltzer--check-llp-announce-proposed-settlement-of-tile-shop-securities-litigation-300402985.html
SOURCE Robbins Geller Rudman & Dowd LLP; Kessler Topaz Meltzer & Check, LLP