Pomerantz LLP Announces a Notice of Pendency and Settlement of Class Action in Solomon v. Sprint Corporation, et al

CHICAGO, May 19, 2023 /PRNewswire/ -- 

UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

TO:  All individuals and entities who purchased or otherwise acquired Sprint common stock between October 25, 2017 and November 1, 2019, both dates inclusive, and who were damaged thereby. 

Excluded from the Settlement Class are (i) Defendants; (ii) the parent entity, officers and directors of the Company, at all relevant times; (iii) members of the immediate families of such officers and directors of the Company, and their legal representatives, heirs, successors or assigns; and (iv) any entity in which Defendants have or had a controlling interest.  Also excluded from the Settlement Class is any Settlement Class Member that validly and timely requests exclusion in accordance with the requirements set by the Court.

PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. 
YOUR RIGHTS MAY BE AFFECTED BY PROCEEDINGS IN THIS ACTION.

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 Southern District of New York, that a hearing will be held on August 8, 2023 before the Honorable Mary Kay Vyskocil in Courtroom 18C of the United States District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007, for the purpose of determining, among other things: (1) whether the proposed Settlement of the Settlement Class's claims against the Defendants for $3,750,000 in cash should be approved as fair, reasonable and adequate; (2) whether the Plan of Allocation should be approved as fair, reasonable and adequate; (3) whether the application by Lead Counsel for an award of attorneys' fees and expenses should be approved; (4) whether a request for reimbursement of Plaintiffs' costs and expenses should be approved; and (5) whether the Action should be dismissed with prejudice against the Defendants as set forth in the Stipulation of Settlement filed with the Court.

If you purchased or acquired Sprint common stock between October 25, 2017 through November 1, 2019, your rights may be affected by the Settlement of this Action, including the release and extinguishment of claims you may possess relating to your ownership interest in Sprint common stock.  If you have not received a detailed Notice of Pendency and Class Action Settlement (the "Notice") and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to the Settlement Administrator at: Sprint Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173094, Milwaukee, WI 53217, www.SprintSecuritiesClassAction.com.

If you are a member of the Settlement Class and wish to share in the Settlement money, you must submit a Proof of Claim no later than July 25, 2023 establishing that you are entitled to recovery.  As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, by no later than July 25, 2023.  All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.  Any objections to the Settlement, Plan of Allocation, attorney's fees and expenses, or Plaintiffs' reimbursement award must be filed and served, in accordance with the procedures set forth in the Notice, no later than July 25, 2023 to each of the following:

If you have any questions about the Settlement, you may visit

www.SprintSecuritiesClassAction.com or contact Lead Counsel at the above address or via telephone at (312) 377-1181. 

INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, 
THE CLERK'S OFFICE, DEFENDANTS, OR DEFENDANTS' COUNSEL.

Dated: May 19, 2023                                                  By Order of the Court
                                                                                            United States District Court
                                                                                            Southern District of New York

SOURCE Pomerantz LLP