RICHMOND, Va., April 28, 2016 /PRNewswire/ --
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF VIRGINIA
IN RE GENWORTH FINANCIAL, INC. SECURITIES LITIGATION
Civ. A. No. 3:14-cv-00682-JAG
Hon. John A. Gibney, Jr.
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION,
PROVISIONAL 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
TO: All persons and entities who, during the period between October 30, 2013, and November 5, 2014, inclusive, purchased or otherwise acquired the publicly traded Genworth Securities (as defined below to include Genworth common stock and certain bonds) and were allegedly damaged thereby (the "Settlement Class"):
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
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, that the above-captioned litigation (the "Action") has been provisionally certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of (I) Pendency of Class Action, Provisional 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"). "Genworth Securities" includes Genworth common stock (CUSIP No. 37247D106) and the following Genworth Bonds: Fixed Senior Unsecured Notes due 5/22/2018; Fixed Senior Unsecured Notes due 6/15/2020; Fixed Senior Unsecured Notes due 2/15/2021; Fixed Senior Unsecured Notes due 9/24/2021; Fixed Senior Unsecured Notes due 8/15/2023; Fixed Senior Unsecured Notes due 2/15/2024; Fixed Senior Unsecured Notes due 6/15/2034; and Variable Junior Subordinated Notes due 11/15/2066.
YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed settlement of the Action for $219,000,000.00 USD in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on July 20, 2016 at 2:00 p.m., before the Honorable John A. Gibney, Jr., at the Spottswood W. Robinson III and Robert R. Merhige, Jr., Federal Courthouse, 701 East Broad Street, Richmond, VA 23219, 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 motion for an award of attorneys' fees and reimbursement of expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. 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 Genworth Financial, Inc. Securities Litigation, P.O. Box 4390, Portland, OR 97208-4390, 1-844-804-4359. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.GenworthSecuritiesSettlement.com.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than August 22, 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 June 22, 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 June 22, 2016, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Genworth, 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:
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
David R. Stickney, Esq.
12481 High Bluff Drive, Suite 300
San Diego, CA 92130
BLEICHMAR FONTI & AULD LLP
Joseph A. Fonti, Esq.
7 Times Square, 27th Floor
New York, NY 10036
Requests for the Notice and Claim Form should be made to:
In re Genworth Financial, Inc. Securities Litigation
P.O. Box 4390
Portland, OR 97208-4390
By Order of the Court
SOURCE Bernstein Litowitz Berger & Grossmann LLP; Bleichmar Fonti & Auld LLP