Labaton Sucharow LLP Announces Proposed Settlement In The In Re Nu Skin Enterprises, Inc., Securities Litigation, Master File No. 14-CV-00033 (D. Utah)
NEW YORK, June 22, 2016 /PRNewswire/ -- TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED COMMON STOCK ("COMMON STOCK") OF NU SKIN ENTERPRISES, INC. ("NU SKIN" OR THE "COMPANY"), INCLUDING CALL AND PUT OPTIONS ("OPTIONS") ON SUCH PUBLICLY TRADED COMMON STOCK, BETWEEN MAY 4, 2011 AND JANUARY 17, 2014, INCLUSIVE, (THE "CLASS PERIOD"), AND WERE DAMAGED THEREBY.
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 District of Utah, that State-Boston Retirement System ("Lead Plaintiff") on behalf of itself, named plaintiffs Michael J. DuDash and Jason Spring ("collectively, "Plaintiffs") and the Settlement Class, and Nu Skin, M. Truman Hunt and Ritch N. Wood (collectively, the "Individual Defendants" and, with Nu Skin, the "Defendants") have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $47,000,000 in cash (the "Settlement Amount") that, if approved, will resolve the Action in its entirety (the "Settlement").
A hearing will be held before the Honorable Jill Parrish of the United States District Court for the District of Utah, Central Division in Courtroom 8.200, 351 South West Temple, Salt Lake City, UT 84101 at 2:00 p.m. on October 5, 2016 to, among other things, determine whether: (1) the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (2) the Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated as of May 2, 2016; (3) the proposed Plan of Allocation for distribution of the Settlement Amount, and any accrued interest, less Court-awarded attorneys' fees and litigation expenses, Notice and Administration Expenses, Taxes, and any other costs, fees, or expenses approved by the Court (the "Net Settlement Fund") should be approved as fair and reasonable; and (4) Lead Counsel's application for an award of attorneys' fees and payment of litigation expenses should be approved. The Court may change the date and/or time of the Settlement Hearing without providing another notice. You do NOT need to attend the Settlement Hearing in order 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 SHARE IN THE NET SETTLEMENT FUND. If you have not yet received the full Notice of Pendency of Class Action, Proposed Settlement and Motion for Attorneys' Fees and Expenses (the "Notice") and a Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator or visiting its website:
In re Nu Skin Enterprises, Inc., Securities Litigation
c/o A.B. Data, Ltd.
PO Box 173022
Milwaukee, WI 53217
866-963-9975
www.NuSkinSecuritiesSettlement.com
[email protected]
Inquiries may also be made to Lead Counsel:
LABATON SUCHAROW LLP
Jonathan Gardner, Esq.
140 Broadway
New York, NY 10005
888-219-6877
www.labaton.com
[email protected]
If you are a Settlement Class Member and wish to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked or received on or before October 6, 2016, establishing that you are entitled to a recovery. If you do not timely submit a valid Proof of Claim, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments and orders entered in the Action.
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 on or before September 14, 2016. If you are a Settlement Class Member and do not exclude yourself from the Settlement Class, you will be bound by all judgments and orders entered in the Action.
Any objection to the proposed Settlement, Plan of Allocation, and/or application for attorneys' fees and payment of litigation expenses must be filed with the Court and served on counsel for the Parties in accordance with the instructions set forth in the Notice such that it is received on or before September 14, 2016. If you submit an objection, you have the right, but are not required, to attend the Settlement Hearing; if you wish to speak at the Settlement Hearing, you must include in your written objection a statement that you intend to appear and speak at the Settlement Hearing.
PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.
DATED: JUNE 22, 2016 |
BY ORDER OF THE COURT |
UNITED STATES DISTRICT COURT |
|
DISTRICT OF UTAH |
SOURCE Labaton Sucharow LLP
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