Notice of Pendency of Class Action and Proposed Settlement Involving Shareholders that Held Archon Corporation Preferred Stock on August 31, 2007

SEATTLE, Dec. 6, 2021 /PRNewswire/ --

DISTRICT COURT
CLARK COUNTY, NEVADA

SUMMARY NOTICE OF PROPOSED CLASS ACTION SETTLEMENT,
SETTLEMENT HEARING, AND RIGHT TO OBJECT,
OPT OUT, AND APPEAR AT HEARING

This notice is for all shareholders that held Archon Corporation ("Archon") Exchangeable Redeemable Preferred Stock as of the close of business on August 31, 2007.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of Nevada Rules of Civil Procedure and an Order of the District Court of Clark County, Nevada, that the Class Representative, Dan Raider on behalf of himself and all members of the Class, and Archon Corporation, Paul Lowden and Suzanne Lowden (collectively "Defendants"), have reached a proposed settlement in the above-captioned class action (the "Action") in the amount of $9,200,000 (the "Settlement").

A hearing will be held before the Honorable Mark R. Denton, on March 14, 2022 at 9:00 A.M.in the Regional Justice Center, 200 Lewis Avenue, Las Vegas, Nevada 89101 (the "Settlement Hearing") to, among other things, determine whether the Court should: (i) approve the proposed Settlement on the terms and conditions provided for in the Settlement Agreement Term Sheet as fair, reasonable, and adequate; (ii) to enter a final order approving the Settlement and dismissing this action with prejudice against Defendants; (iii) approve the proposed Plan of Allocation for the proceeds of the Settlement; (iv) approve the application of Plaintiff's Counsel for attorneys' fees, reimbursement of litigation expenses, notice, and claims administration expenses; (v) approve the Class Representative's incentive award; and (vi) to consider any other matters that may properly be brought before the Court in connection with the Settlement. The Court may change the date of the Settlement Hearing, or hold it telephonically or via videoconference, without providing further notice. You do NOT need to attend the Settlement Hearing to receive a distribution from the Settlement.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. A full Notice and Claim Form can be obtained by visiting the Settlement website, www.ArchonPreferredClassAction.com, or by contacting the Claims Administrator at:

Raider v. Archon Corporation, et al.
c/o JND Legal Administration
P.O. Box 91332
Seattle, WA 98111
[email protected]
1-888-551-9712
Settlement Website: www.ArchonPreferredClassaction.com

If you are a member of the Settlement Class, to qualify for a payment, you must submit a Claim Form and appropriate income tax withholding form, so that it is received by the Claims Administrator no later than March 19, 2022. If you are a class member and do not timely submit a valid Claim Form and appropriate tax withholding form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than January 18, 2022. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, application of Plaintiff's Counsel for attorneys' fees, and/or the proposed Plan of Allocation must be filed with the Court, by mail, and be mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than January 18, 2022.

If you are a member of the Settlement Class and wish to attend the Settlement Hearing and request to speak in Court, you must file a Notice of Appearance so that it is received no later than January 18, 2022.

For any questions, visit www.ArchonPreferredClassaction.com or call toll-free at 1-888-551-9712.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

BY ORDER OF THE COURT
DISTRICT COURT
CLARK COUNTY, NEVADA

SOURCE JND Legal Administration