NEW YORK, March 11, 2019 /PRNewswire/ --
IN THE SUPERIOR COURT OF THE STATE OF ARIZONA
IN AND FOR THE COUNTY OF MARICOPA
PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF MISSISSIPPI, individually and on behalf of all others similarly situated,
SPROUTS FARMERS MARKET, INC., et al.,
Case No.: CV2016-050480
Summary Notice of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys' Fees and Expenses
(Assigned to the Hon. Roger Brodman)
ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF SPROUTS FARMERS MARKET, INC. ("SPROUTS" OR THE "COMPANY") IN OR TRACEABLE TO THE COMPANY'S SECONDARY PUBLIC OFFERING OF 15,847,800 SHARES THAT OCCURRED ON OR ABOUT MARCH 5, 2015, AND WERE ALLEGEDLY DAMAGED THEREBY ("SETTLEMENT CLASS").
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Superior Court of the State of Arizona, Maricopa County, that Lead Plaintiff Public Employees' Retirement System of Mississippi, on behalf of itself and the Settlement Class, and Sprouts, J. Douglas Sanders, Amin N. Maredia, Donna Berlinski, Andrew S. Jhawar, Shon Boney, Joseph Fortunato, Lawrence P. Molloy, and Steven H. Townshend, AP Sprouts Holdings, LLC, and AP Sprouts Holdings (Overseas), L.P., Barclays Capital Inc. and Morgan Stanley & Co. LLC (collectively, "Defendants") have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $9,500,000 that, if approved, will resolve the Action in its entirety (the "Settlement").
A hearing will be held before the Honorable Roger Brodman of the Superior Court of the State of Arizona, Maricopa County, East Court Building, Fourth Floor, 101 W. Jefferson Street, Phoenix, Arizona, 85003, Courtroom 413, at 9:00 a.m. on May 31, 2019 (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 December 27, 2018; (iii) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (iv) approve Lead Counsel's Fee and Expense Application. 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 a 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.SproutsSecuritiesLitigation.com, or by contacting the Claims Administrator at:
Sprouts Farmers Market Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 170600
Milwaukee, WI 53217
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:
James W. Johnson, Esq.
LABATON SUCHAROW LLP
New York, NY 10005
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 June 25, 2019. 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 May 10, 2019. 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 Fee and Expense Application must be filed with the Court and mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are filed and received no later than May 10, 2019.
PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE.
Dated: March 11, 2019
BY ORDER OF THE SUPERIOR COURT OF THE
STATE OF ARIZONA, MARICOPA COUNTY
SOURCE Labaton Sucharow LLP