Monteverde & Associates PC Announces Proposed Class Action Settlement on Behalf of All Holders of Education Realty Trust, Inc. Common Stock

NEW YORK, Feb. 15, 2022 /PRNewswire/ --

SUMMARY NOTICE

TO:     ALL RECORD HOLDERS AND ALL BENEFICIAL HOLDERS OF EDUCATION REALTY TRUST, INC. ("EDR") COMMON STOCK WHO PURCHASED, SOLD, OR HELD SUCH STOCK DURING THE PERIOD FROM AND INCLUDING, JUNE 25, 2018, THE DATE THE MERGER AGREEMENT WAS EXECUTED CONCERNING THE MERGER BETWEEN GREYSTAR STUDENT HOUSING GROWTH AND INCOME TRUST ("GREYSTAR") AND EDR ("TRANSACTION"), THROUGH AND INCLUDING SEPTEMBER 20, 2018, THE DATE THE TRANSACTION WAS CONSUMMATED ("CLOSING DATE"), INCLUDING ANY AND ALL OF THEIR RESPECTIVE PREDECESSORS, SUCCESSORS, TRUSTEES, EXECUTORS, ADMINISTRATORS, ESTATES, LEGAL REPRESENTATIVES, HEIRS, ASSIGNS, AND TRANSFEREES.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Circuit Court for Baltimore City, Maryland, that a hearing will be held on May 16, 2022, at 9:30 a.m. Eastern Time, before the Honorable Jeffrey M. Geller. The hearing will be held for the purpose of determining: (a) whether the Court should grant final approval of the proposed Settlement of $10 million on the terms and conditions provided for in the Stipulation as fair, reasonable, and adequate, and in the best interests of the Settlement Class Members; (b) whether the Settlement Class should be finally certified for purposes of Settlement, and whether the designation of Plaintiff as Class representative and Plaintiff's Counsel as Co-Class Counsel should be made final; (c) whether the Court should approve the Plan of Allocation of the Settlement as fair, reasonable, and adequate, and in the best interests of the Settlement Class Members; (d) whether the Court should enter an Order and Final Judgment dismissing the Action on the merits and with prejudice as to the Defendants and effectuating the releases described in the Stipulation; (e) whether the application of Plaintiff's Counsel for the payment of attorneys' fees and expenses and an incentive award for Plaintiff should be approved; and (f) such other matters as may properly come before the Court.

The Settlement Hearing shall be a remote electronic proceeding via Zoom for Government. Do not appear in person.

Instructions for joining the Zoom hearing have been sent electronically to the counsel of record and are as follows:

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IF YOU PURCHASED, SOLD, OR HELD EDR COMMON STOCK DURING THE PERIOD FROM AND INCLUDING JUNE 25, 2018, THROUGH AND INCLUDING SEPTEMBER 20, 2018 (THE "SETTLEMENT CLASS PERIOD"), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF EDR COMMON STOCK DURING THE SETTLEMENT CLASS PERIOD.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Education Realty Trust, Inc. Securities Litigation, c/o Claims Administrator, P.O. Box 4620, Portland, OR 97208-4620, 1-855-604-1813, or on the Internet at www.EDRMergerSettlement.com.  If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail (postmarked no later than June 15, 2022), or online at www.EDRMergerSettlement.com no later than June 15, 2022, establishing that you are entitled to recovery.

If you purchased, sold, or held EdR common stock during the Settlement Class Period and you desire to be excluded from the Settlement Class, you must submit a request for exclusion so that it is received no later than April 25, 2022, in the manner and form explained in the detailed Notice referred to above. All Settlement Class Members who do not timely and validly request exclusion from the Settlement Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation.

Any objection to the Settlement, the Plan of Allocation, Plaintiff's Counsel's request for the payment of attorneys' fees and expenses, and any incentive award to Plaintiff must be received by each of the following recipients via hard copy and email no later than April 25, 2022:

CLERK OF COURT
CIRCUIT COURT FOR
BALTIMORE CITY, MARYLAND
111 North Calvert Street, Room 412
Baltimore, MD 21202

Plaintiff's Counsel:
Monteverde & Associates PC
Juan E. Monteverde
The Empire State Building
350 Fifth Avenue, Suite 4405
New York, NY 10118
[email protected]

Defendants' Counsel:
Hogan Lovells US LLP
Jon Talotta
Thomas Hunt
8350 Broad Street, 17th Floor
Tysons, VA 21202
[email protected] 
[email protected]

Morrison & Foerster LLP
Joel Haims
250 West 55th Street
New York, NY  10019
[email protected]

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Monteverde & Associates PC, at the address listed above.

Dated: February 15, 2022                                             BY ORDER OF THE COURT
                                                                                       CIRCUIT COURT FOR 
                                                                                       BALTIMORE CITY, MARYLAND

SOURCE Monteverde & Associates PC