The Law Firms of Robbins Geller Rudman & Dowd LLP and Kessler Topaz Meltzer & Check, LLP Announce Proposed Settlement of Walter Energy, Inc. Securities Litigation

23 Dec, 2015, 07:59 ET from United States District Court Northern District of Alabama, Southern Division

BIRMINGHAM, Ala., Dec. 23, 2015 /PRNewswire/ --

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ALABAMA
SOUTHERN DIVISION

In re WALTER ENERGY, INC.
SECURITIES LITIGATION


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Master File No. 2:12-cv-00281-VEH

CLASS ACTION

SUMMARY NOTICE

TO:    ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED WALTER ENERGY, INC. ("WALTER ENERGY") PUBLICLY TRADED COMMON STOCK BETWEEN APRIL 20, 2011 AND SEPTEMBER 21, 2011, AND WERE DAMAGED THEREBY

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Alabama, Southern Division, that a hearing will be held on May 2, 2016, at 10:00 a.m., at the United States District Court, Northern District of Alabama, Southern Division, Hugo L. Black U.S. Courthouse, 1729 Fifth Avenue North, Birmingham, AL 35203, for the purpose of determining:  (1) whether the proposed Settlement of the claims in the Action for the amount of $25,000,000.00 plus interest, should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice ("Judgment") should be entered by the Court dismissing the Action with prejudice and releasing the Released Claims; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees, costs, and expenses and of any Lead Plaintiffs' expenses should be approved.

IF YOU PURCHASED OR OTHERWISE ACQUIRED WALTER ENERGY PUBLICLY TRADED COMMON STOCK BETWEEN APRIL 20, 2011 AND SEPTEMBER 21, 2011 ("SETTLEMENT CLASS PERIOD"), AND WERE DAMAGED THEREBY, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS ACTION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF WALTER ENERGY COMMON STOCK DURING THE SETTLEMENT CLASS PERIOD.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator at Walter Energy Securities Litigation, Claims Administrator, c/o Epiq Systems, Inc., P.O. Box 4153, Portland, OR 97208-4153.  Copies of the Notice and Proof of Claim can also be downloaded from the Settlement website, www.WalterEnergySecuritiesLitigation.com.  If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim by mail postmarked no later than May 9, 2016, or submitted electronically no later than May 9, 2016.

If you purchased or otherwise acquired Walter Energy publicly traded common stock during the Settlement Class Period and you desire to be excluded from the Settlement Class, you must submit a request for exclusion so that it is received no later than March 11, 2016, in the manner and form explained in the detailed Notice referred to above.  All members of the Settlement Class who do not timely and validly request exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Stipulation and Agreement of Settlement.

Any objection to the Settlement, the Plan of Allocation, or the fee and expense application must be received, not simply postmarked, by each of the following recipients no later than March 11, 2016:

CLERK OF THE COURT
United States District Court
Northern District of Alabama
Southern Division
Hugo L. Black U.S. Courthouse
1729 Fifth Avenue North
Birmingham, AL 35203

Lead Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP
ANDREW J. BROWN
655 West Broadway, Suite 1900
San Diego, CA  92101

KESSLER TOPAZ MELTZER & CHECK, LLP
Andrew L. Zivitz
Johnston de F. Whitman, Jr.
280 King of Prussia Road
Radnor, PA  19087

Counsel for Defendants:

SIMPSON THACHER & BARTLETT LLP
George S. Wang
425 Lexington Avenue
New York, NY  10017

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Lead Counsel at the addresses listed above.

DATED:  November 23, 2015

BY ORDER OF THE COURT


UNITED STATES DISTRICT COURT


NORTHERN DISTRICT OF ALABAMA


SOUTHERN DIVISION

URL: www.WalterEnergySecuritiesLitigation.com

 

SOURCE United States District Court Northern District of Alabama, Southern Division