Levi & Korsinsky, LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Resource Capital Corp. Common Stock
NEW YORK, April 17, 2018 /PRNewswire/ --
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
DAREN LEVIN, individually and on behalf of |
Case No. 1:15-cv-07081 |
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Hon. Louis L. Stanton |
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Plaintiff, |
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v. |
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RESOURCE CAPITAL CORP., JONATHAN Z. |
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Defendants.
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TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED RESOURCE CAPITAL CORP. ("RESOURCE CAPITAL") SECURITIES BETWEEN OCTOBER 31, 2012 AND AUGUST 5, 2015.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure that a hearing will be held on August 3, 2018, at 12:00 p.m., before the Honorable Louis L. Stanton, United States District Judge, at the Courthouse for the United States District Court, Southern District of New York, Courtroom 21C, Daniel Patrick Moynihan Courthouse, 500 Pearl Street, New York, New York 10007, for the purpose of determining, among other things, whether the following matters should be approved by the Court: (1) the proposed Settlement of the claims in the Action for the combined sum of $9,500,000 in cash as fair, reasonable, and adequate to the Members of the Class; (2) whether, thereafter, the Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement dated February 5, 2018 ("Stipulation"); (3) whether the Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; (4) whether the application of Lead Counsel for the payment of attorneys' fees and reimbursement of expenses incurred in connection with the Action should be approved; and (5) whether the Lead Plaintiff and Additional Plaintiff should be awarded an incentive award.
If you purchased or otherwise acquired common stock, Series B preferred stock, and/or Series C preferred stock between October 31, 2012 and August 5, 2015, your rights may be affected by the settlement of this Class Action. If you have not received the detailed Notice of Pendency and Proposed Settlement of Class Action (the "Notice") and a copy of the Proof of Claim and Release Form, you may obtain them free of charge by contacting the Claims Administrator, by mail at: Resource Capital Corp. Securities Litigation, Claims Administrator, P.O. Box 4850 Portland, OR 97208-4850.
If you are a member of the Class and wish to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim no later than July 23, 2018 establishing that you are entitled to recovery. As further described in the Notice, you will be bound by any Judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Class, in accordance with the procedures set forth in the Notice, no later than July 5, 2018. Any objections to the Settlement, Plan of Allocation, or attorneys' fees and expenses must be filed and served, in accordance with the procedures set forth in the Notice, no later than July 13, 2018.
Inquiries, other than requests for the Notice, may be made to Lead Counsel for the Class: Nicholas I. Porritt, Esq, Levi & Korsinsky, LLP, 1101 30th Street, N.W., Suite 115, Washington, D.C. 20007, [email protected].
INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE CLERK'S OFFICE, THE DEFENDANTS, OR DEFENDANTS' COUNSEL.
If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.
DATED: April 3, 2018 |
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BY ORDER OF THE UNITED STATES |
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DISTRICT COURT FOR THE SOUTHERN |
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DISTRICT OF NEW YORK |
SOURCE Levi & Korsinsky, LLP
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