NEW YORK, Jan. 22, 2021 /PRNewswire/ --
IN THE COURT OF COMMON PLEAS OF PHILADELPHIA COUNTY,
PENNSYLVANIA – CIVIL TRIAL DIVISION
IN RE LIVENT CORPORATION
Consolidated Case No. 190501229
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED
SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES
To: All persons and entities who or which purchased or otherwise acquired the publicly traded common stock of Livent Corporation ("Livent") pursuant and/or traceable to Livent's Offering Materials for its initial public offering of 23,000,000 shares.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Court of Common Pleas of Philadelphia County, Pennsylvania, that Lead Plaintiffs Plymouth County Retirement Association and Gary Bizarria, on behalf of themselves and the proposed Settlement Class,1 and Livent and the other defendants in the Action, have reached a proposed settlement of the above-captioned class action (the "Action") in the amount of $7,400,000 that, if approved, will resolve the Action in its entirety (the "Settlement").
A hearing will be held before the Honorable Ramy I. Djerassi, either in person at the Court of Common Pleas of Philadelphia County, Pennsylvania, in a courtroom that will be posted in advance on the Settlement website, or remotely, using information that will be posted on the Settlement website, in the Court's discretion, at 10:00 a.m. EDT on April 15, 2021 (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 October 27, 2020; (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.LiventSecuritiesSettlement.com, or by contacting the Claims Administrator at:
Livent Securities Settlement
c/o Epiq Class Action & Claims Solutions, Inc.
P.O. Box 5270
Portland, OR 97208-5270
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 submitted online no later than May 8, 2021. 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 March 25, 2021. 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 mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than March 25, 2021.
PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE.
DATED: January 22, 2021
BY ORDER OF THE COURT OF COMMON
PLEAS OF PHILADELPHIA COUNTY,
SOURCE// Labaton Sucharow LLP
1 All terms not defined herein shall have the definition assigned to them in the Stipulation and Agreement of Settlement, dated October 27, 2020.
SOURCE Labaton Sucharow LLP