LOS ANGELES, Jan. 3, 2017 /PRNewswire/ --
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 purchased or otherwise acquired the common stock of CVB Financial Corp. ("CVB") between March 4, 2010, and August 9, 2010, inclusive (the "Settlement Class Period"), and were 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 Central District of California, that the above-captioned litigation (the "Action") has been 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, 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 $6,200,000 in cash (the "Settlement"), that, if approved, will resolve claims in the Action as set forth in the Stipulation and Agreement of Settlement (the "Stipulation"), available at www.CVBSecuritiesSettlement.com.
A hearing will be held on March 13, 2017, at 10:00 a.m., before the Honorable Christina A. Snyder at the United States District Court for the Central District of California, 350 W. First Street, Courtroom 8D, 8th Floor, Los Angeles, CA 90012, or such other location as may be reported on the Court website, http://www.cacd.uscourts.gov/judges-schedules-procedures, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether claims in the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation (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 Barry R. Lloyd v. CVB Financial Corp., et al., c/o JND Class Action Administration, P.O. Box 6847, Broomfield, CO 80021, 1-844-620-9987, www.CVBSecuritiesSettlement.com, or email CVBSettlement@classactionadmin.com. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.CVBSecuritiesSettlement.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 April 18, 2017. 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 February 21, 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 expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than February 21, 2017, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, CVB, 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
Timothy 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:
By Order of the Court
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SOURCE Bernstein Litowitz Berger & Grossmann LLP