SAN DIEGO, Jan. 23, 2017 /PRNewswire/ -- The following statement is being issued by Bernstein Litowitz Berger & Grossmann LLP regarding the EZCORP, Inc. Securities Class Action Settlement.
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
In re: EZCORP, INC. SECURITIES LITIGATION, This document applies to: ALL CASES, No. 14-cv-6834-ALC-AJP, Hon. Andrew L. Carter, Jr., CLASS ACTION
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, 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 April 19, 2012, and October 6, 2014, inclusive ("the Settlement Class Period"), purchased or otherwise acquired Class A common stock issued by EZCORP, Inc. ("EZCORP"), and were damaged thereby (the "Settlement Class"); and
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 Southern District of New York, that the above-captioned litigation (the "Action") has been certified for settlement purposes 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, 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").
YOU ARE ALSO NOTIFIED that Lead Plaintiff in the Action has reached a proposed settlement of the Action for $5.9 million in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on April 25, 2017, at 10:00 a.m., before the Honorable Andrew L. Carter, Jr., at the United States District Court, Southern District of New York, Thurgood Marshall United States Courthouse, Courtroom 1306, 40 Foley Square, New York, NY 10007, 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 the 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 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 Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at EZCORP Securities Litigation, c/o GCG, P.O. Box 10354, Dublin, OH 43017-5554, or toll-free at (888) 320-8169. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, at www.EZCORPSecuritiesSettlement.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 May 19, 2017. If you are a member of the Settlement Class 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 April 4, 2017, 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 EZCORP's counsel such that they are received no later than April 4, 2017, in accordance with the instructions set forth in the Notice.
Please do not contact the 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 regarding the Settlement Class, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
Bernstein Litowitz Berger & Grossmann LLP
Timothy A. DeLange, Esq.
Niki L. Mendoza, Esq.
12481 High Bluff Drive, Suite 300
San Diego, CA 92130
Requests for the Notice and Claim Form should be made to:
EZCORP Securities Litigation
P.O. Box 10354
Dublin, OH 43017-5554
By Order of the Court
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SOURCE Bernstein Litowitz Berger & Grossmann LLP