CENTRAL ISLIP, N.Y., April 30, 2015 /PRNewswire/ --
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK
In re: GENTIVA SECURITIES LITIGATION
Case No. 10-CV-05064 (ADS)(SIL)
TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED GENTIVA HEALTH SERVICES, INC. publicly traded common stock ("GENTIVA securities") FROM JULY 31, 2008 TO OCTOBER 4, 2011, INCLUSIVE, AND SUFFERED ALLEGED DAMAGES AS A RESULT.
YOU ARE HEREBY NOTIFIED that a proposed settlement has been reached in this action. A hearing will be held with respect to the settlement on September 11, 2015, at 9:00 a.m. before the Honorable Arthur D. Spatt in the United States District Court for the Eastern District of New York, 100 Federal Plaza, Courtroom 1070, Central Islip, New York.
The purpose of the hearing is to determine whether the proposed settlement of the securities class action claims asserted in this litigation, pursuant to which the Settling Defendants, including Gentiva Health Services, Inc. ("Gentiva"), will cause Gentiva's insurance carrier to deposit the sum of six million five hundred thousand dollars ($6,500,000.00) into a settlement fund in exchange for the dismissal of the litigation and a release of claims against the Settling Defendants and other related persons and entities, should be approved by the Court as fair, reasonable, adequate and in the best interests of the Settlement Class, which includes all persons and entities who purchased or otherwise acquired Gentiva Securities during the period from July 31, 2008 to October 4, 2011, inclusive ("Settlement Class Period").
If you purchased or otherwise acquired Gentiva Securities during the Settlement Class Period, you may be potentially entitled to share in the distribution of the Settlement Fund if you submit a claim form no later than August 25, 2015, establishing that you are potentially entitled to a recovery. Regardless of whether you submit a claim form or obtain any distribution of the Settlement Fund, if the settlement is approved by the Court, you will be bound by the settlement and the Court's final order and judgment, including the releases provided for in the final order and judgment, unless you submit a request to be excluded from the Settlement Class as discussed below.
If you are a Settlement Class Member, you have the right to object to the settlement, the plan of allocation and/or the request by plaintiff's Lead Counsel for an award of attorneys' fees and litigation expenses, or otherwise request to be heard, by submitting no later than August 21, 2015, a written objection in accordance with the procedures described in a more detailed notice that has been mailed to persons or entities known to be potential Settlement Class Members, and that is available at www.gentivasecuritieslitigation.com. You also have the right to exclude yourself from the Settlement Class by submitting no later than August 21, 2015, a written request for exclusion from the Settlement Class in accordance with the procedures described in the more detailed notice.
This notice provides only a summary of matters regarding the litigation and the settlement. A detailed notice describing the litigation, the proposed settlement, and the rights of Members of the Settlement Class to appear in Court at the hearing, to request to be excluded from the Settlement Class and/or to object to the settlement, the plan of allocation and/or the request by plaintiff's Lead Counsel for an award of attorneys' fees and litigation expenses has been mailed to persons or entities known to be potential Settlement Class Members. You may obtain a copy of this notice, a proof of claim form, or other information by writing to the following address or calling the following telephone number:
Gentiva Securities Litigation
PO Box 3058
Portland, OR 97208-3058
or by downloading the same from www.gentivasecuritieslitigation.com.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the detailed notice referenced above and a proof of claim form, may be made to the following firm that serves as Lead Counsel for the Settlement Class:
Kaplan Fox & Kilsheimer LLP
850 Third Avenue, 14th Floor
New York, New York 10022
Attn: Joel B. Strauss, Esq.
Dated: April 30, 2015
By Order of the Clerk of the Court
United States District Court
for the Eastern District of New York
SOURCE United States District Court for the Eastern District of New York