Monteverde & Associates PC Announces Proposed Class Action Settlement on Behalf of All Holders of Anworth Mortgage Asset Corporation Common Stock

NEW YORK, July 14, 2023 /PRNewswire/ -- 

TO:  RECORD AND BENEFICIAL HOLDERS OF ANWORTH MORTGAGE ASSET CORPORATION ("ANWORTH") COMMON STOCK FROM DECEMBER 6, 2020 THROUGH AND INCLUDING MARCH 19, 2021, THE DATE OF THE CONSUMMATION OF ANWORTH'S MERGER WITH AFFILIATES OF READY CAPITAL CORPORATION (THE "MERGER"), INCLUDING ANY AND ALL OF THEIR RESPECTIVE SUCCESSORS-IN-INTEREST, SUCCESSORS, PREDECESSORS-IN-INTEREST, PREDECESSORS, REPRESENTATIVES, TRUSTEES, EXECUTORS, ADMINISTRATORS, ESTATES, HEIRS, ASSIGNS AND TRANSFEREES, IMMEDIATE AND REMOTE, AND ANY PERSON OR ENTITY ACTING FOR OR ON BEHALF OF, OR CLAIMING UNDER, ANY OF THEM, AND EACH OF THEM, TOGETHER WITH THEIR PREDECESSORS-IN-INTEREST, PREDECESSORS, SUCCESSORS-IN-INTEREST, SUCCESSORS, AND ASSIGNS (THE "CLASS").

THE PARTIES TO A SHAREHOLDER CLASS ACTION SUIT CONCERNING THE MERGER HAVE AGREED TO A PROPOSED SETTLEMENT.  YOU MAY BE ENTITLED TO COMPENSATION AS A RESULT OF THE PROPOSED SETTLEMENT IN THE ACTION CAPTIONED:

BAKER v. MCADAMS, Et. Al., Lead Case No. 21STCV07569

YOU ARE HEREBY NOTIFIED, pursuant to California Code of Civil Procedure Section 382 and an Order of the Court, that the above-captioned action has been provisionally certified as a class action and that a settlement for $3,000,000 has been proposed (the "Settlement").  Under the Settlement, the settlement amount, minus any Court-approved attorneys' fees not to exceed one third of the Settlement Fund, incentive awards of $1,000 for each Plaintiff, expenses not to exceed $36,000, and administrative costs estimated at $45,000, will be distributed on a per share basis to Class members who owned shares of Anworth common stock from December 6, 2020 through and including March 19, 2021, the date of the consummation of the Merger.  A hearing will be held before the Honorable Carolyn B. Kuhl in the Los Angeles County Superior Court, Department 12, located at 312 North Spring Street, Los Angeles, CA 90012, at 1:30PM on November 14, 2023 to determine whether the Settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the application of Co-Lead Counsel for attorneys' fees and reimbursement of expenses and incentive awards for the named Plaintiffs (the "Settlement Hearing").

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT.  IF THE COURT APPROVES THE SETTLEMENT, YOU WILL BE FOREVER BARRED FROM PURSUING THE RELEASED CLAIMS. You may obtain copies of the Stipulation of the Agreement of Settlement, Compromise, and Release„ a detailed Notice of Pendency of Class Action, Proposed Settlement, Settlement Hearing, and Right to Appear (the "Notice"), and instructions concerning your right to appear and object to the Settlement or award of attorneys' fees by visiting www. https://www.rg2claims.com/anworth.html or contacting Co-Lead Counsel:

MONTEVERDE & ASSOCIATES PC
Juan E. Monteverde
The Empire State Building
350 Fifth Avenue, Suite 4405
New York, NY 10118
Tel: (212) 971-1341
Fax: (212) 202-7880

As described more fully in the Notice, you need not file a written objection in order to object and may appear at the Settlement Hearing personally to make an oral objection.  In the event there is a written objection it shall be filed with the Court and served upon Co-Lead Counsel above such that they are received no later than twenty-one (21) calendar days prior to the Settlement Hearing, or no later than October 24, 2023.

If you want to be excluded from the Class and Settlement, you must make a request in writing no later than twenty-one (21) calendar days prior to the Settlement Hearing, or no later than October 24, 2023.

Further information may be obtained by contacting the Co-Lead Counsel listed above.

PLEASE DO NOT CALL THE COURT.

By Order of The Court

SOURCE Monteverde & Associates PC