Labaton Sucharow LLP and Scott+Scott, Attorneys at Law, LLP Announce a Proposed Class Action Settlement in Weston v. RCS Capital Corporation, et al.

NEW YORK, July 19, 2017 /PRNewswire/ --

To: All Investors That Purchased or Otherwise Acquired the Common Stock of RCS Capital Corporation ("RCAP") During the Period from February 12, 2014 to December 18, 2014, Inclusive (the "Class Period"), and Were Allegedly Damaged Thereby (the "Settlement Class"). 

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 Oklahoma Police Pension Fund and Retirement System and City of Providence, Rhode Island ("Lead Plaintiffs") on behalf of themselves and the Settlement Class, and RCAP, RCAP Holdings, LLC, RCAP Equity, LLC, Nicholas S. Schorsch, Brian S. Block, Edward M. Weil, Jr., William M. Kahane, Brian D. Jones, Peter M. Budko, Mark Auerbach, Jeffrey Brown, C. Thomas McMillen and Howell Wood (collectively, "Defendants") have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $31,000,000 in cash that, if approved, will resolve the Action in its entirety (the "Settlement").

A hearing will be held before the Honorable George B. Daniels of the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, Courtroom 11A, 500 Pearl Street, New York, NY 10007 at 10:00 a.m. on September 28, 2017 (the "Settlement Hearing") to, among other things, 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 Settlement, dated June 2, 2017; (iii) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (iv) approve Lead Counsel's application for an award of attorneys' fees and payment of Litigation Expenses.  The Court may change the date of the Settlement Hearing without providing another notice.  You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT 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 the Notice and Proof of Claim and Release form ("Claim Form"), you may obtain copies of these documents by visiting the website dedicated to the Settlement, www.RCAPSecuritiesSettlement.com, or by contacting the Claims Administrator at:

RCAP Securities Litigation
Claims Administrator
c/o A.B. Data, Ltd.
P.O. Box 173040
Milwaukee, WI  53217
 (866) 778-9626

Inquiries, other than requests for the Notice/Claim Form or for information about the status of a claim, may also be made to Lead Counsel:

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or received no later than November 2, 2017.  If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court in the Action, whether favorable or unfavorable. 

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than August 29, 2017.  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, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund. 

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel's application for attorneys' fees and payment of Litigation Expenses must be filed with the Court and mailed to counsel for the Parties in accordance with the instructions set forth in the Notice, such that they are filed and received no later than August 29, 2017. 

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

SOURCE Labaton Sucharow LLP; Scott+Scott, Attorneys at Law, LLP

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