NEW YORK, June 20, 2016 /PRNewswire/ -- The following statement is being issued by LABATON SUCHAROW LLP regarding the InnerWorkings Securities Litigation.
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
PETER IKAI VAN NOPPEN, Individually and On Behalf of All Others Similarly Situated,
INNERWORKINGS, INC., ERIC D. BELCHER, and JOSEPH M. BUSKY,
Case No. 1:14-cv-01416
TO: ALL PERSONS AND ENTITIES THAT PURCHASED THE PUBLICLY TRADED COMMON STOCK AND/OR CALL OPTIONS, AND/OR SOLD THE PUT OPTIONS, OF INNERWORKINGS, INC. ("INNERWORKINGS" OR THE "COMPANY") DURING THE PERIOD FROM FEBRUARY 15, 2012 THROUGH NOVEMBER 6, 2013, 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 Northern District of Illinois, that Lead Plaintiff Plymouth County Retirement System, on behalf of itself and the Settlement Class, on the one hand, and InnerWorkings, Eric D. Belcher and Joseph M. Busky (collectively with InnerWorkings, the "Defendants"), on the other, have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $6,025,000 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 John Robert Blakey of the United States District Court for the Northern District of Illinois, Eastern Division in Courtroom 1725, United States Courthouse, 219 South Dearborn Street, Chicago, IL 60604 at 9:45 a.m. on October 13, 2016 to, among other things, determine whether: (a) the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (b) the Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated as of May 11, 2016; (c) 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 (d) 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 ("Claim Form"), you may obtain copies of these documents by contacting the Claims Administrator or visiting its website:
InnerWorkings Securities Litigation
c/o GCG, LLC
P.O. Box 10291
Dublin, OH 43017-5891
Inquiries may also be made to Lead Counsel:
If you are a Settlement Class Member and wish to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or received on or before October 8, 2016, establishing that you are entitled to a recovery. If you 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 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 in the Notice such that it is received on or before September 21, 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 in the Notice such that it is received on or before September 21, 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 OR DEFENDANTS REGARDING THIS NOTICE.
Dated: June 20, 2016
BY ORDER OF THE UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
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SOURCE LABATON SUCHAROW LLP