Pearson, Simon & Warshaw, LLP Announces Proposed Settlement of the Universal City Studios LLC Class Action
LOS ANGELES, Sept. 11, 2015 /PRNewswire/ -- The following statement is being issued by Pearson, Simon & Warshaw, LLP regarding the Universal City Studios LLC Class Action:
NOTICE OF PROPOSED CLASS ACTION SETTLEMENT
If You Are a Profit Participant on a Motion Picture Released by Universal City Studios for
Home Video or Electronic Sell-Through, You Could Financially Benefit from a Class Action Settlement
What Is This Settlement About?
A settlement has been reached in a class action lawsuit over how Universal City Studios LLC ("Universal") calculated profit participation relating to revenue derived from the sale of Home Videos (e.g. physical copies such as videocassettes, DVDs, and Blu-Ray) and Electronic Sell-Through (e.g. digital copies delivered for permanent download such as iTunes or Amazon) on certain motion pictures. The settlement is not an admission of wrongdoing and the Court has not decided who is right and who is wrong. Instead, the parties decided to settle the dispute.
Am I A Class Member?
You may be a Class Member if you are a person or entity (or their successors-in-interest, assigns, and heirs) who is a party to a "Class Profit Participation Contract" (defined by the Settlement Agreement as a Profit Participation Contract, entered on or before December 31, 2014, that does not include express provisions regarding the calculation of the Profit Participant's Profit Participation with regard to Home Video Revenue and/or Electronic Sell-Through Revenue). To obtain more information regarding whether you are a Class Member, please visit www.UniversalHVSettlement.com or call 1-877-319-9141.
What Does The Settlement Provide?
This settlement provides Class Members with a: (1) $13 million Settlement Fund, which will be used to pay recouped profit participants who are already receiving profit participation on their contracts; and (2) $13 million Accounting Relief Fund, which will be used to credit the accounts of unrecouped profit participants who are not yet receiving profit participation on their contracts. You may receive benefits from either or both of these funds if you qualify.
What Are My Options?
You have the following rights and options as a Class Member. You have to take action on or before November 12, 2015 in order to exercise your legal rights and options under the settlement set forth below. Please visit www.UniversalHVSettlement.com or call 1-877-319-9141 for more information on how to exercise your rights and options.
| REMAIN PART OF THE SETTLEMENT CLASS |
If you also receive notice of this settlement in the mail, you do not have to take any action to remain part of the settlement class and be eligible to receive the benefits, payments and credits offered by the settlement. Payments and credits will be applied to eligible Class Members automatically. |
| BECOME PART OF THE SETTLEMENT CLASS |
If you do not receive notice of this settlement in the mail and you believe that you may be an eligible Class Member, you can apply to take part in the settlement by visiting www.UniversalHVSettlement.com or calling 1-877-319-9141. |
| EXCLUDE YOURSELF |
Excluding yourself means you will be excluded from the class and get no payment or credits from this settlement. The judgment, whether favorable or not, will bind all members who do not request exclusion. |
| OBJECT TO THIS SETTLEMENT |
You may tell the Court and parties about why you don't like this settlement. |
| ATTEND THE FAIRNESS HEARING |
Any member who does not request exclusion may ask to speak in court about your opinion of the settlement at the Fairness Hearing. The Fairness Hearing is currently scheduled for 10:00 a.m., on December 11, 2015 at Department 323 of the California Superior Court, 600 South Commonwealth Avenue, Los Angeles CA, 90005. You may make an appearance through counsel if you so desire. |
How Can I Obtain More Information?
This notice summarizes the proposed settlement. You can view the complete Settlement Agreement, Long Form Notice and certain court documents, and obtain more information on how to exercise your rights and options under the settlement by visiting www.UniversalHVSettlement.com or calling 1-877-319-9141.
SOURCE Pearson, Simon & Warshaw, LLP
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