Cohen Milstein Sellers & Toll PLLC and Scott + Scott Attorneys at Law LLP Announce a Class Action Settlement Involving Purchasers of GreenSky, Inc. Common Stock

NEW YORK, July 12, 2021 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF PROPOSED SETTLEMENT

TO: ALL PERSONS AND ENTITIES WHO PURCHASED CLASS A COMMON STOCK OF GREENSKY, INC. PURSUANT AND/OR TRACEABLE TO THE REGISTRATION STATEMENT AND PROSPECTUS ISSUED IN CONNECTION WITH GREENSKY'S MAY 25, 2018 INITIAL PUBLIC OFFERING

YOU ARE HEREBY NOTIFIED that a proposed Settlement has been reached in this Action. A hearing will be held with respect to the Settlement on October 19, 2021 at 10:00 a.m., before the Honorable Alvin K. Hellerstein, in the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., Courtroom 14D, New York, New York 10007.¹

The purpose of the hearing is to determine whether the proposed Settlement of the securities class action claims asserted in this Action, pursuant to which GreenSky will cause to be deposited into a Settlement Fund the sum of twenty-seven million, five hundred thousand U.S. dollars ($27,500,000.00) in exchange for the dismissal of the Action with prejudice and a release of claims against the Defendants and Released Defendants, should be approved by the Court as fair, reasonable and adequate and in the best interests of the Class. If you purchased GreenSky Class A common stock pursuant and/or traceable to the Offering Documents, you may be entitled to share in the distribution of the Settlement Fund if you submit a Proof of Claim Form no later than October 9, 2021, and if the information and documentation you provide in that Proof of Claim Form establishes that you are entitled to a recovery.

This Summary Notice provides only a summary of matters regarding the Action and the Settlement. A detailed notice (the "Notice") describing the Action, the proposed Settlement, and the rights of Class Members to appear in Court at the Final Approval Hearing, to request to be excluded from the Class, and/or to object to the Settlement, the Plan of Allocation and/or the request by Lead Counsel for an award of attorneys' fees and reimbursement of Litigation Expenses, has been mailed to persons or entities known to be potential Class Members. You may obtain a copy of that Notice, a Proof of Claim Form, the Stipulation and other information at www.GreenSkySecuritiesLitigation.com, or by writing to the following address or calling the following telephone number.

 In re GreenSky Securities Litigation
P.O. Box 3560
Portland, OR 97208-3560 
www.GreenSkySecuritiesLitigation.com 
Tel: 1-855-917-3539 (Toll-Free)
E-mail: [email protected]

If you are a Class Member, you have the right to object to the Settlement, the Plan of Allocation and/or the request by Co-Lead Counsel for an award of attorneys' fees and Litigation Expenses, or otherwise request to be heard, by submitting no later than September 28, 2021, a written objection in accordance with the procedures described in the Notice. You also have the right to exclude yourself from the Class by submitting no later than September 28, 2021, a written request for exclusion from the Class in accordance with the procedures described in the Notice. If the Settlement is approved by the Court, you will be bound by the Settlement and the Court's Judgment, including the releases provided for in the Settlement and Judgment, unless you submit a request to be excluded.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

Inquiries, other than requests for the Notice, Proof of Claim Form and the Stipulation referenced above, may be made to Co-Lead Counsel for Lead Plaintiffs:

Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue N.W., Suite 500
Washington, D.C. 20005
Attn: Steven J. Toll
[email protected]

Scott + Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor
New York, NY 10169
Attn: Max R. Schwartz
[email protected]

Dated: July 12, 2021

By Order of the Court
United States District Court
for the Southern District of New York

SOURCE// Cohen Milstein Sellers & Toll PLLC and Scott + Scott Attorneys at Law LLP

URL// www.GreenSkySecuritiesLitigation.com

¹This Summary Notice incorporates by reference the definitions in the Stipulation and Agreement of Settlement dated May 24, 2021 ("Stipulation"), and all capitalized terms used, but not defined herein, shall have the same meanings as in the Stipulation. A copy of the Stipulation can be obtained at https://www.GreenSkySecuritiesLitigation.com. 

SOURCE Cohen Milstein Sellers & Toll PLLC and Scott + Scott Attorneys at Law LLP