Proposed Settlement of DeVry Education Group, Inc. Securities Litigation Announced by Labaton Sucharow LLP
NEW YORK, Sept. 27, 2019 /PRNewswire/ --
UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
PENSION TRUST FUND FOR OPERATING ENGINEERS, Individually and on Behalf of All Others Similarly Situated, Plaintiff, v. DEVRY EDUCATION GROUP, INC., DANIEL HAMBURGER, RICHARD M. GUNST, TIMOTHY J. WIGGINS, Defendants. |
Case No. 1:16-cv-05198 Hon. Mary M. Rowland |
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES
To: |
All persons and entities who purchased or otherwise acquired DeVry Education Group, Inc. publicly-traded common stock and/or exchange-traded call options (and/or sold exchange-traded put options on such common stock) during the period from August 26, 2011 through January 27, 2016, inclusive (the "Settlement Class Period") and 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 Northern District of Illinois, that Lead Plaintiff Utah Retirement Systems, on behalf of itself and the proposed Settlement Class, and Defendants Adtalem Global Education Inc. f/k/a DeVry Education Group, Inc., Daniel Hamburger, Richard M. Gunst, Patrick J. Unzicker, and Timothy J. Wiggins (collectively "Defendants"), have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $27,500,000 that, if approved, will resolve the Action in its entirety (the "Settlement").
A hearing will be held before the Honorable Mary M. Rowland of the United States District Court for the Northern District of Illinois, Everett McKinley Dirksen United States Courthouse, 219 S. Dearborn Street, Chicago, Illinois 60604, in Courtroom 1225, at 9:30 a.m. on December 6, 2019 (the "Final Approval Hearing") to, among other things, determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided for in the Stipulation of Settlement, dated August 29, 2019;1 (iii) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (iv) approve Lead Counsel's application for an award of Attorneys' Fees and Expenses. The Court may change the date of the Final Approval Hearing without providing another notice. You do NOT need to attend the Final Approval 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 of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys' Fees and Expenses ("Notice") and Proof of Claim and Release form (the "Claim Form"), you may obtain copies of these documents by visiting the website for the Settlement, www.DeVrySecuritiesSettlement.com, or by contacting the Claims Administrator at:
DeVry Securities Settlement
c/o KCC Class Action Services
P.O. Box 43041
Providence, RI 02940-3041
1-888-810-9152
[email protected]
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:
Carol C. Villegas, Esq.
LABATON SUCHAROW LLP
140 Broadway
New York, NY 10005
www.labaton.com
[email protected]
1-888-219-6877
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 to the Claims Administrator that is postmarked or submitted electronically no later than November 29, 2019. 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 in the Action, 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 November 15, 2019. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court about 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, the proposed Plan of Allocation, and/or Lead Counsel's request for Attorneys' Fees and Expenses 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 November 15, 2019.
PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE
DATED: September 27, 2019 |
BY ORDER OF THE COURT UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS |
1 All capitalized terms that are not defined have the same meaning as that set forth in the Stipulation of Settlement.
SOURCE Labaton Sucharow LLP
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