Notice of Pendency and Proposed Settlement of Class Action Announced in the Blount International, Inc. Securities Litigation

PORTLAND, Ore., May 20, 2019 /PRNewswire/ --

IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF OREGON
PORTLAND DIVISION

IF YOU HELD BLOUNT INTERNATIONAL, INC. ("BLOUNT") COMMON STOCK CONTINUOUSLY FROM MARCH 4, 2016, THE RECORD DATE FOR VOTING ON THE PROPOSED ACQUISITION OF BLOUNT BY AMERICAN SECURITIES LLC AND P2 CAPITAL PARTNERS LLC, THROUGH APRIL 12, 2016, THE DATE THE TRANSACTION WAS COMPLETED, YOU COULD RECEIVE A PAYMENT FROM A CLASS ACTION SETTLEMENT. CERTAIN PERSONS ARE EXCLUDED FROM THE CLASS AS SET FORTH BELOW. ¹

PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY 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 Order of the United States District Court for the District of Oregon, Portland Division, that the above-captioned litigation (the "Action") has been certified as a class action and that a Settlement has been proposed for $3,059,000.00 in cash. A hearing will be held on September 9, 2019, at 10:00 a.m., before the Honorable Michael H. Simon at the Mark O. Hatfield United States Courthouse, 1000 Southwest Third Avenue, Portland, Oregon 97204-2944, for the purpose of determining whether: (1) the proposed Settlement should be approved by the Court as fair, reasonable and adequate; and (2) the application of Lead Plaintiffs' counsel for the payment of attorneys' fees and expenses, including Lead Plaintiffs' expenses incurred in connection with the Action, should be approved.

If you are a Class Member described above, your rights may be affected by the Settlement of the Action and you may be entitled to share in the Settlement Fund. 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, you may obtain a copy of these documents by contacting the Claims Administrator: Azar v. Blount International, Inc., c/o Epiq Class Action & Claims Solutions, Inc., PO Box 2312, Portland, OR 97208-2312 or call 1-888-418-0346. You may also obtain copies of the Stipulation of Settlement, Notice, and Proof of Claim and Release at www.blountinternationalsettlement.com.

If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release postmarked no later than August 12, 2019. If you are a Class Member and do not submit a valid Proof of Claim and Release, you will not be eligible to share in the distribution of the Net Settlement Fund but you will still be bound by any judgment entered by the Court in this Action (including the releases provided for therein).

To exclude yourself from the Class, you must submit a written request for exclusion postmarked by August 19, 2019, and in accordance with the instructions set forth in the Notice. If you are a Class Member and do not exclude yourself from the Class, you will be bound by any judgment entered by the Court in this Action (including the releases provided for therein), whether or not you submit a Proof of Claim and Release. If you submit a written request for exclusion, you will have no right to recover money pursuant to the Settlement.

Any objection to the terms and conditions of the proposed Settlement, the allocation, the request for attorneys' fees and reimbursement of litigation expenses, or the request for a compensatory award to the Lead Plaintiffs must be filed with the Court and delivered such that it is received by each of the following no later than August 19, 2019:

COURT
Clerk of the Court
U.S. District Court for the District of Oregon, Portland Division
Mark O. Hatfield
United States Courthouse
1000 Southwest Third Ave.
Portland, OR 97204

LEAD COUNSEL
W. Scott Holleman
Johnson Fistel LLP
99 Madison Avenue, 5th Fl.
New York, NY 10016

DEFENSE COUNSEL
Gary Bornstein
Cravath, Swaine & Moore LLP
825 Eighth Avenue
New York, NY 10019

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 Lead Counsel at the address listed above.

DATED:  May 13, 2019

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF OREGON
PORTLAND DIVISION

¹ This Summary Notice incorporates by reference the definitions in the Stipulation of Settlement dated as of April 12, 2019 ("Stipulation"), and all capitalized terms used, but not defined herein, shall have the same meanings as in the Stipulation. The Stipulation can be obtained at www.blountinternationalsettlement.com. 

SOURCE United States District Court for the District of Oregon, Portland Division

Related Links

http://www.blountinternationalsettlement.com