Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Third Avenue Fund Securities Litigation

NEW YORK, May 1, 2017 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Third Avenue Fund Securities Litigation:

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION REGARDING THE THIRD AVENUE FOCUSED CREDIT FUND

YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified as a class action for settlement purposes and that Plaintiffs have reached a proposed settlement with Defendants to resolve all claims in the case for $14,250,000 in cash.

Pursuant to an Order of the United States District Court for the Southern District of New York, a "Settlement Hearing" will be held on June 23, 2017, at 2:15 p.m., before the Honorable P. Kevin Castel, United States District Judge, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, to determine, among other things: (1) whether the proposed Settlement of the Action for the sum of $14,250,000 in cash on the terms set forth in the Stipulation of Settlement dated March 31, 2017 ("Stipulation")¹ should be approved as fair, reasonable, and adequate; (2) whether an Order Approving Class Action Settlement and Judgment should be entered by the Court dismissing the Action with prejudice; (3) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (4) whether Lead Counsel's motion for an award of attorneys' fees and expenses should be approved.

IF YOU PURCHASED FUND SHARES DURING THE PERIOD MARCH 1, 2013 THROUGH DECEMBER 10, 2015, INCLUSIVE, YOUR RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND.

If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice"), and a copy of the Proof of Claim and Release, you may obtain copies by writing to Third Avenue Fund Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 30255, College Station, TX 77842-3255, by telephone, at 1-844-540-6003, or by email, at [email protected].  You may also download these documents from the Internet at  www.thirdavenuefundsettlement.com.

If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail postmarked no later than July 19, 2017, at the Claims Administrator's address, Third Avenue Fund Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 30255, College Station, TX 77842-3255 or online at www.thirdavenuefundsettlement.com no later than July 19, 2017, establishing that you are entitled to a recovery.

You will be bound by any judgment rendered in the Action unless you request to be excluded, in writing, such that it is postmarked no later than June 2, 2017 in accordance with the instructions in the detailed Notice, referred to above.  If you submit a valid and timely request for exclusion, you cannot share in the settlement money, cannot object to the Settlement, and will not be bound by the Settlement or the Court's rulings.

Any objection to any aspect of the Settlement, the Plan of Allocation and/or Lead Counsel's motion for an award of attorneys' fees and expenses must comply with the requirements stated in the Notice and must be filed with the Clerk of the Court at the United States District Court, Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, no later than June 2, 2017, and received by the following no later than June 2, 2017:

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement or the Action, you may contact Lead Counsel at the address listed above or Rick Nelson, a representative of Lead Counsel at 1-800-449-4900.

¹ The Stipulation and other settlement related documents can be viewed at
www.thirdavenuefundsettlement.com.

SOURCE Robbins Geller Rudman & Dowd LLP