Bernstein Litowitz Berger & Grossmann LLP and Scott+Scott Attorneys at Law LLP Announce a Proposed Settlement in the Evoqua Water Technologies Corp. Securities Litigation

NEW YORK, Aug. 16, 2021 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES

TO: All persons and entities who purchased or otherwise acquired the publicly traded common stock of Evoqua Water Technologies Corp. ("Evoqua") during the period from November 1, 2017 (the date of Evoqua's IPO) through October 30, 2018, inclusive (the "Class Period") and were damaged thereby (the "Settlement Class"):¹

PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS MAY 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 Southern District of New York (the "Court"), that the above-captioned litigation (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that Lead Plaintiffs Louisiana Sheriffs' Pension & Relief Fund and City of Omaha Police & Fire Retirement System, and additional class representative City of Hallandale Beach Police Officers' & Firefighters' Personnel Retirement Trust (collectively, "Plaintiffs") have reached a proposed settlement of the Action for $16,650,000 in cash (the "Settlement") on behalf of the Settlement Class, that, if approved, will resolve all claims in the Action. 

A hearing will be held on November 1, 2021 at 11:00 a.m. Eastern Time, before the Honorable John P. Cronan in person at the United States Courthouse for the Southern District of New York, Courtroom 12D, 500 Pearl Street, New York, NY 10007.  At the hearing, the Court will 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 dated May 28, 2021 (and in the Notice) should be granted; (iii) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, the Plaintiffs should be certified as Class Representatives for the Settlement Class, and Lead Counsel should be appointed as class counsel for the Settlement Class; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of Litigation 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 accompanying Proof of Claim form ("Claim Form"), you may obtain copies of these documents by contacting the Claims Administrator at Evoqua Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 170900, Milwaukee, WI 53217, 1-855-569-5890.  Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.EvoquaSecuritiesLitigation.com

If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a valid Claim Form postmarked (if mailed), or online, no later than December 3, 2021, in accordance with the instructions set forth in the Claim Form.  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 releases, 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 12, 2021, 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 Litigation Expenses, must be filed with the Court and delivered to Lead Counsel and Representative Defendants' Counsel such that they are received no later than October 12, 2021, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, Evoqua, the other Defendants, or their 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:

¹ Certain persons and entities are excluded from the Settlement Class by definition, as set forth in the full printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for an Attorneys' Fees and Litigation Expenses (the "Notice").

SOURCE Bernstein Litowitz Berger & Grossmann LLP and Scott+Scott Attorneys at Law LLP