Entwistle & Cappucci LLP and Labaton Sucharow LLP Announce a Notice of Pendency and Proposed Settlement of Class Action in The Arbitrage Fund v. Petty, et al.

AUSTIN, Texas, March 4, 2022 /PRNewswire/ --

CIRCUIT COURT OF FLORIDA
ELEVENTH JUDICIAL CIRCUIT
MIAMI-DADE COUNTY

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF
CLASS ACTION AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

To: All individuals and entities that held Exactech, Inc. ("Exactech" or the "Company") common stock shares as of January 12, 2018 and were entitled to vote those shares in favor or against the Merger Agreement with affiliates of TPG Capital, L.P. on February 13, 2018, excluding Defendants and all members of their immediate families and excluding Rollover Investors (those shareholders entitled to receive equity in the new, privately held company) and all members of their immediate families (as defined fully in the Notice, the "Class").

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Circuit Court of the Eleventh Judicial Circuit of Florida, Miami-Dade County, that Plaintiff The Arbitrage Fund, on behalf of itself and all members of the certified Class, and defendants William Petty, David Petty, Betty Petty, Prima Investments, Inc., Prima Investments, L.P., James G. Binch, Andrew Krusen, Jr., William B. Locander, Richard C. Smith, and Fern S. Watts (collectively, "Defendants"), have reached a proposed settlement of the claims in the above-captioned class action (the "Action") in the amount of $5,600,000 (the "Settlement"). 

A virtual hearing will be held before the Honorable Alan Fine, on April 25, 2022 at 2:15 p.m. on the Zoom platform  (the "Settlement Fairness Hearing") to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Compromise, Settlement and Release, dated February 4, 2022 ("Stipulation"); (iii) approve the proposed plan of allocation for distribution of the proceeds of the Settlement (the "Net Common Fund") among Authorized Claimants and (iv) approve Class Counsel's Fee and Expense Application.

A virtual hearing will also be held before the Honorable Alan Fine, immediately prior to the Settlement Fairness Hearing, on April 25, 2022, at 2:00 p.m. on the Zoom platform (the "Rule 1.250(b) Hearing") to determine whether certain defendants (Exactech's Outside Directors) may be dropped from the case prior to the entry of Final Judgment.

For information needed to connect to the Rule 1.250(b) Hearing and the Settlement Fairness Hearing, please check the website for the Settlement, www.ExactechShareholderSettlement.com, on the day of the hearings or refer to Judge Fine's webpage.

The Court may change the date of the Settlement Fairness Hearing and/or the Rule 1.250(b) Hearing without providing another notice. You do NOT need to participate at the Settlement Fairness Hearing to receive a distribution from the Net Common Fund.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT.

If you have not yet received a full Notice and Claim Form, you may obtain copies of these documents by visiting the website for the Settlement, www.ExactechShareholderSettlement.com, or by contacting the Settlement Administrator at:

Exactech Shareholder Litigation Settlement
c/o A.B. Data, Ltd.
P.O. Box 173056
Milwaukee, WI 53217
877-315-0587

Inquiries, other than requests for information about the status of a claim, may also be made to Class Counsel:

Andrew J. Entwistle, Esq.
ENTWISTLE & CAPPUCCI LLP
500 West 2^nd Street, Suite 1900-16
Austin, TX  78701
Telephone: (512) 710-5960
Facsimile: (212) 894-7272

If you are a Class Member, to be eligible to share in the Distribution of the Net Common Fund, you must submit a Claim Form postmarked or submitted online no later than July 5, 2022. If you are a Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the Distribution of the Net Common Fund, but you will nevertheless be bound by all of the terms of the Stipulation, and all of the terms of any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Class Member and wish to exclude yourself from the Class, you must file with the Court a written request for exclusion in accordance with the instructions set forth in the Notice no later than April 18, 2022. If you properly exclude yourself from the Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the Distribution of the Net Common Fund.

Any objections to the proposed Settlement, Class Counsel's Fee and Expense Application and/or the proposed plan of allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than April 4, 2022.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

BY ORDER OF THE COURT

CIRCUIT COURT OF FLORIDA
ELEVENTH JUDICIAL CIRCUIT
MIAMI-DADE COUNTY

SOURCE Entwistle & Cappucci LLP; Labaton Sucharow LLP