Bernstein Litowitz Berger & Grossmann LLP Announces Pendency of Class Action and Proposed Settlement Involving Investors in Publicly Traded Common Stock and Mandatory Convertible Preferred Stock of Frontier Communications Corporation

NEW YORK, Feb. 28, 2022 /PRNewswire/ --  

UNITED STATES DISTRICT COURT
DISTRICT OF CONNECTICUT

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

This notice is directed to all persons and entities who purchased or otherwise acquired shares of publicly traded common stock and Mandatory Convertible Preferred Stock of Frontier Communications Corporation (collectively, "Frontier Securities") between April 25, 2016 and October 31, 2017, inclusive (the "Class Period"), and were allegedly damaged thereby (the "Settlement Class").

Certain persons and entities are excluded from the Settlement Class as set forth in detail in the Stipulation and Agreement of Settlement dated December 23, 2021 ("Stipulation") and the Notice described below.  Copies of the Stipulation and the Notice are available at www.FrontierCommunicationsSecuritiesLitigation.com.

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 District of Connecticut ("Court"), that the above-captioned securities class action ("Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that the parties to the Action have reached a proposed settlement for $15,500,000 in cash ("Settlement") that, if approved by the Court, will resolve all claims in the Action.

A hearing ("Settlement Hearing") will be held on May 10, 2022 at 12:00 p.m., before the Honorable Victor A. Bolden, by video conference, to determine, among other things: (i) whether, for purposes of the Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiffs should be certified as Class Representatives for the Settlement Class, and Lead Counsel should be appointed as Class Counsel for the Settlement Class; (ii) whether the proposed Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Settlement Class, and should be finally approved by the Court; (iii) whether a Judgment substantially in the form attached as Exhibit B to the Stipulation should be entered dismissing the Action with prejudice against Defendants; (iv) whether the proposed Plan of Allocation for the proceeds of the Settlement is fair and reasonable and should be approved; (v) whether the motion by Lead Counsel for an award of attorneys' fees and Litigation Expenses should be approved; and (vi) any other matters that may properly be brought before the Court in connection with the Settlement.  Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding remote or in-person appearances at the hearing, will be posted to the Settlement website, www.FrontierCommunicationsSecuritiesLitigation.com.

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 of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys' Fees and Litigation Expenses (the "Notice") and Proof of Claim and Release Form (the "Claim Form"), you may obtain copies of these documents by contacting the Claims Administrator at Frontier Communications Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173044, Milwaukee, WI 53217, [email protected].  Copies of the Notice and Claim Form can also be downloaded from the Settlement website, www.FrontierCommunicationsSecuritiesLitigation.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 Claim Form postmarked (if mailed), or online through the Settlement website, www.FrontierCommunicationsSecuritiesLitigation.com, no later than June 15, 2022 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 written request for exclusion such that it is received no later than April 19, 2022, 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 releases, judgments, or orders entered by the Court in the Action and you will not be eligible to share in the net proceeds of the Settlement.  Excluding yourself is the only option that may allow you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and Litigation Expenses, must be filed with the Court and served on Lead Counsel and Defendants' Counsel such that they are received no later than April 19, 2022, in accordance with the instructions set forth in the Notice.

PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.  All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.

Requests for the Notice and Claim Form should be made to the Claims Administrator:

Frontier Communications Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173044
Milwaukee, WI 53217
1-877-311-3734
[email protected]
www.FrontierCommunicationsSecuritiesLitigation.com

All other inquiries should be made to Lead Counsel:

Katherine M. Sinderson, Esq.
Bernstein Litowitz Berger & Grossmann LLP
1251 Avenue of the Americas, 44th Floor
New York, NY 10020
1-800-380-8496
[email protected] 

SOURCE Bernstein Litowitz Berger & Grossmann LLP