Levi & Korsinsky, LLP Announces Pendency of Class Action Involving Purchasers of Bloom Energy Corporation Common Shares

OAKLAND, Calif., Dec. 4, 2023 /PRNewswire/ -- 

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, CERTIFICATION OF
SETTLEMENT CLASS, AND PROPOSED SETTLEMENT; (II) SETTLEMENT
FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES
AND REIMBURSEMENT OF LITIGATION EXPENSES

TO: All persons and entities who purchased or otherwise acquired common shares of Bloom Energy Corporation ("Bloom") from July 25, 2018, to March 31, 2020, inclusive:

PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

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 California, that the above-captioned litigation (the "Action") has been certified as a class action for purposes of the Settlement only on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full Notice of (I) Pendency of Class Action, Certification of Settlement Class, and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").

YOU ARE ALSO NOTIFIED that Plaintiffs in the Action have reached a proposed settlement of the Action for $3,000,000 in cash (the "Settlement"), that, if approved, will resolve all claims asserted or that could have been asserted in the Action.

A hearing will be held on April 18, 2024, at 2:00 p.m., before the Honorable Haywood S. Gilliam, Jr. at the United States District Court for the Northern District of California, United States Courthouse, Courtroom 2, 4th Floor, 1301 Clay Street, Oakland, CA 94612 or via Zoom, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Settling Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated June 29, 2023, (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved. The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means.

If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. The Notice and Proof of Claim and Release Form ("Claim Form"), can be downloaded from the website maintained by the Claims Administrator, www.BloomEnergySettlement.com. You may also obtain copies of the Notice and Claim Form by contacting the Claims Administrator at Bloom Energy Settlement, c/o Epiq Global, PO Box 2230 Portland, OR 97208-2230, 1-844-334-1078.

If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form online or postmarked no later than March 29, 2024. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than March 18, 2024, in accordance with the instructions set forth in the Notice. 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 and you will not be eligible to share in the proceeds of the Settlement.

Lead Counsel's motions for i) final approval of the settlement; ii) attorney's fees and reimbursement of expenses; and iii) awards to plaintiffs are due on February 1, 2024. The motions and supporting materials will be posted to www.BloomEnergySettlement.com once filed. Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motions for attorneys' fees and reimbursement of expenses and awards to plaintiffs, must be filed with the Court and delivered to Lead Counsel and Settling Defendants' Counsel such that they are received no later than March 18, 2024, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, Settling Defendants, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.

Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:

LEVI & KORSINSKY, LLP
Nicholas Porritt, Esq.
1101 Vermont Avenue NW, Suite 700
Washington, DC 20005
(202) 542-4290
[email protected]

Requests for the Notice and Claim Form should be made to:

Bloom Energy Settlement
c/o Epiq Global
P.O. Box 2230
Portland, OR 97208-2230
844-334-1078
www.BloomEnergySettlement.com

By Order of the Court

URL: www.BloomEnergySettlement.com

SOURCE Levi & Korsinsky, LLP