Notice of Proposed Class Action Settlement Involving All Persons or Entities that Purchased or Acquired the Publicly Traded American Depositary Receipts of Desarrolladora Homex, S.A.B. de C.V. a/k/a Homex Development Corporation

PHILADELPHIA, June 25, 2020 /PRNewswire/ --

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED
SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

To:      All persons and entities that purchased or acquired the publicly traded American Depositary Receipts ("ADRs") of Homex during the period from April 30, 2012 and May 5, 2016, inclusive (the "Class Period"), and who were allegedly damaged thereby (the "Settlement Class").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Eastern District of New York, that Court-appointed Lead Plaintiff on behalf of himself and all members of the proposed Settlement Class, and Desarrolladora Homex, S.A.B. de C.V. a/k/a Homex Development Corporation ("Homex" or the "Defendant"), have reached a proposed settlement of the claims in the above-captioned class action (the "Action") in the amount of $300,000, plus interest, and an additional amount up to $50,000 to pay for the Settlement's Notice and Administration Expenses (the "Settlement").

A hearing will be held before the Honorable Arthur D. Spatt of the United States District Court for the Eastern District of New York, at the United States Courthouse, 100 Federal Plaza, Central Islip, NY 11722, in Courtroom 1020 at 9:00 a.m. on September 16, 2020 (the "Settlement Hearing") to, among other things, determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the claims against Homex in the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated May 5, 2020; (iii) approve the proposed Plan of Allocation for distribution of the settlement funds available for distribution to Settlement Class Members (the "Net Settlement Fund"); and (iv) approve Lead Counsel's Fee and Expense Application. The Court may change the date of the Settlement Hearing without providing another notice. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Notice and Claim Form, you may obtain copies of these documents by visiting the website of the Claims Administrator, www.HomexSecuritiesLitigation.com, or by contacting the Claims Administrator at:

Tames v. Desarrolladora Homex, S.A.B. de C.V,
c/o Angeion Group, LLC
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
[email protected]
(833) 508-0996

Inquiries, other than requests for the Notice/Claim Form or for information about the status of a claim, may also be made to Lead Counsel:

Nicholas I. Porritt
LEVI & KORSINSKY, LLP
55 Broadway, 10th Floor
New York, NY 10006
(212) 363-7500

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than September 9, 2020. If you are a Settlement Class Member and do not timely submit a valid Claim 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 Settlement Class Member and wish to exclude yourself from the Settlement Class, 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 August 26, 2020. 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, Lead Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court and mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are filed and received no later than August 26, 2020.

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

Dated: this 22 day of May 2020

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK

SOURCE LEVI & KORSINSKY, LLP