Girard Sharp LLP and Hedin Hall LLP Announce a Notice of Proposed Settlement of Class Action in the In re Maxar Technologies Inc., Shareholder Litigation

SAN FRANCISCO, July 7, 2023 /PRNewswire/ -- 

SUPERIOR COURT OF THE STATE OF CALIFORNIA

COUNTY OF SANTA CLARA

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on December 7, 2023, at 1:30 p.m., before the Honorable Sunil R. Kulkarni at the Superior Court of California, County of Santa Clara, Department 1, 191 North First Street, San Jose, CA 95113, to determine whether: (1) the proposed settlement ("Settlement") of the above-captioned action as set forth in the Stipulation of Settlement ("Stipulation")¹ for $36,500,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) the Judgment as provided under the Stipulation should be entered; (3) to award Class Counsel attorneys' fees and expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action ("Notice"), which is discussed below) and, if so, in what amount; (4) to pay Class Representative out of the Settlement Fund for representing the Class and, if so, in what amount; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.

This Action is a securities class action brought on behalf of those persons who acquired Maxar common stock pursuant to the registration statement and prospectus ("Offering Materials") issued in connection with Maxar's October 2017 merger with and acquisition of DigitalGlobe, against Maxar and certain of its officers and directors (collectively, "Defendants") for, among other things, allegedly misstating and omitting material facts from the registration statement and prospectus filed in connection with the Merger. Plaintiff alleges that these purportedly false and misleading statements resulted in damage to Class Members. Defendants deny all of Plaintiff's allegations and deny that there was any violation of the securities laws.

¹ The Stipulation can be viewed and/or obtained at www.MaxarSecuritiesSettlement.com.

IF YOU ACQUIRED MAXAR COMMON STOCK IN THE MERGER WITH DIGITALGLOBE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION.

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form ("Proof of Claim") by mail (postmarked no later than September 27, 2023) or electronically (no later than September 27, 2023). Your failure to timely submit your Proof of Claim will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Action. If you are a member of the Class and do not request exclusion therefrom, you will be bound by the Settlement and any judgment and release entered in the Action, whether or not you submit a Proof of Claim. If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other settlement documents, online at www.MaxarSecuritiesSettlement.com, or by writing to:

Maxar Securities Settlement
c/o A.B. Data, Ltd.
P.O. Box 173131
Milwaukee, WI  53217

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Notice or for a Proof of Claim, may be made to Class Counsel:

ADAM E. POLK
GIRARD SHARP LLP
601 California Street, Suite 1400
San Francisco, CA 94108
Telephone: (415) 981-4800
Facsimile: (415) 981-4846

DAVID W. HALL
HEDIN HALL LLP
Four Embarcadero Center, Suite 1400
San Francisco, CA 94104
Telephone: (415) 766-3534
Facsimile: (415) 402-0058

If you wish to be excluded from the Class, you must submit a request for exclusion such that it is postmarked by August 28, 2023, in the manner and form explained in the Notice.  All members of the Class who have not requested exclusion from the Class will be bound by the Settlement, even if they do not submit a timely Proof of Claim. 

If you are a Class Member, you have the right to object to the Settlement, the Plan of Allocation, the Request by Class Counsel for an award of attorneys' fees of up to 35% of the Settlement Fund (or $12,775,000) and expenses not to exceed $600,000, and/or for payment to the Class Representative not to exceed $10,000 for representing the Class.  Any written objections must be filed with the Court and sent to Class Counsel and Defendants' counsel by August 28, 2023, in the manner and form explained in the Notice.  You may also make an oral objection at the Settlement Fairness Hearing without submitting a written objection.

SOURCE Girard Sharp LLP and Hedin Hall LLP