Notice of In Re Cybex International Shareholders Litigation

NEW YORK, June 2, 2014 /PRNewswire/ -- The following release was issued by Analytics.

SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK

IN RE CYBEX INTERNATIONAL SHAREHOLDERS LITIGATION, Index No.
653794/2012

IF YOU WERE A RECORD OR BENEFICIAL OWNER OF THE COMMON STOCK OF CYBEX INTERNATIONAL, INC. (NASDAQ: CYBI) WHO OWNED SUCH COMMON STOCK ON OR BEFORE OCTOBER 17, 2012, AND CONTINUED TO MAINTAIN OWNERSHIP OF THE COMMON STOCK THROUGH FEBRUARY 7, 2013, THE DATE OF THE CLOSING OF THE "GOING PRIVATE" MERGER TRANSACTION WHEREBY EACH OF CYBEX'S OUTSTANDING SHARES OF COMMON STOCK (OTHER THAN THOSE OWNED BY CYBEX'S CONTROLLING SHAREHOLDERS) WERE CONVERTED INTO $2.55 PER SHARE PAYABLE IN CASH, (THE "TRANSACTION") YOU MAY BE ELIGIBLE FOR COMPENSATION.

Please read this Notice carefully.  Your rights will be affected by the legal proceedings in this Action.  A proposed settlement has been reached in this action, as set forth in a Stipulation of Settlement.  The Court will hold a Settlement Hearing on July 1, 2014, at 10:30 a.m., in Courtroom 228 of the Supreme Court of the State of New York, 100 Centre Street, New York, NY  10007. 

The purpose of the hearing is to determine whether the proposed settlement should be approved by the Court as fair, reasonable, adequate and in the best interests of the class.  The Settling Parties agreed that Cybex will pay a special dividend in the aggregate amount of $1,830,000 (the "Settlement Fund").  Cybex shall pay this Settlement Fund to Plaintiffs' Settlement Counsel to be placed in a trust account for distribution to each Settlement Class Member, net of any attorney's fees and expenses as the Court may award out of the Settlement Fund.  In addition, following the commencement of this Action, Cybex provided additional disclosures regarding the Transaction which addressed many of the issues raised by Plaintiffs in their Complaint in the Definitive Proxy Statement on Form 14A Cybex filed with the Securities and Exchange Commission ("SEC') on or about December 28, 2012.

At this hearing, the Court will consider whether (i) to approve the Settlement as fair, reasonable, and adequate and in the best interests of the Settlement Class; (ii) to dismiss the Action with prejudice and release the settled claims such that neither Plaintiffs nor any Settlement Class member could sue on their claims again; and (iii) the Court should grant the request of Plaintiffs' counsel for attorneys' fees and expenses.  If there are objections, the Court will consider them.  Justice Shirley Werner Kornreich will listen to Settlement Class Members (or their counsel) who have submitted written objections or who appear at the Settlement Hearing. 

If you believe you are eligible and would like to participate, you must complete the Proof of Claim Form completely, sign it, include copies of all required supporting documentation, and submit it by mail, postmarked on or before June 21, 2014.

You also have the right to exclude yourself from the proposed settlement or object to the proposed settlement or the other matters to be considered by the Court at the hearing, in accordance with the procedures described in a more detailed notice ("Notice") that has been mailed to members of the Settlement Class.  If you did not receive a copy of the Notice by mail, you may obtain a copy and Proof of Claim Form by visiting the website, www.cybexsecuritieslitigation.com.  You may also request a Notice and Proof of Claim Form packet be sent to you via mail by calling toll free at 855-294-0132 or writing Cybex International Shareholders Litigation, c/o Analytics, P.O. Box 2007, Chanhassen, MN 55317-2007.

This notice is a summary only of the information regarding the settlement.  We strongly recommend that you read the entire Notice as well as other relevant case documents for more complete details.  The documents can be found at www.cybexsecuritieslitigation.com.

If the Court approves the proposed settlement and you are a member of the Settlement Class and do not exclude yourself from the Settlement Class or do not submit a proper Proof of Claim by June 21, 2014, you will not share in the settlement fund, will be bound by the Order and Final Judgment and Dismissal of the Court and you will be forever barred from pursuing the settled claims unless you exclude yourself from the settlement. 

Please do not call the Clerk of Court or Justice Shirley Werner Kornreich for Information

SOURCE Analytics