Robbins Geller Rudman & Dowd LLP and Labaton Sucharow LLP Announce a Proposed Settlement in the Catalyst Securities Litigation

NEW YORK, May 4, 2020 /PRNewswire/ --

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK

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

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 Plaintiffs, on behalf of themselves and all members of the proposed Settlement Class, and Mutual Fund Series Trust (the "Trust"), Catalyst Capital Advisors, LLC ("Catalyst"), Northern Lights Distributors LLC ("NLD"), Jerry Szilagyi ("Szilagyi"), Tobias Caldwell ("Caldwell"), Tiberiu Weisz ("Weisz"), Bert Pariser ("Pariser"), and Erik Naviloff ("Naviloff") (collectively, "Defendants"), have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $3,325,000 (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, in Courtroom 1020 of the Long Island Courthouse, 100 Federal Plaza, Central Islip, New York 11722 at 9:00 a.m. on September 3, 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 Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated March 10, 2020; (iii) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (iv) approve Co-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 Postcard Notice in the mail, you may obtain copies of the Postcard Notice, the long-form Notice of Pendency of Class Action, Proposed Class Action Settlement, and Motion for Attorneys' Fees and Expenses ("Notice") and Proof of Claim and Release form ("Claim Form") by visiting the website dedicated to the Settlement, www.CatalystSecuritiesSettlement.com, or by contacting the Claims Administrator at:

Emerson v. Mutual Fund Series Trust
Claims Administrator
c/o A.B. Data, Ltd.
P.O. Box 173101
Milwaukee, WI 53217
www.CatalystSecuritiesSettlement.com 
(877) 236-1413

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

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 August 17, 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 and at www.CatalystSecuritiesSettlement.com such that it is received no later than August 13, 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, the 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 and at www.CatalystSecuritiesSettlement.com, such that they are filed and received no later than August 13, 2020. 

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

SOURCE Robbins Geller Rudman & Dowd LLP and Labaton Sucharow LLP

Related Links

http://www.catalystsecuritiessettlement.com