CHICAGO, Feb. 16, 2011 /PRNewswire/ -- The following statement is being issued by Cohen Milstein Sellers & Toll PLLC regarding the Huron Consulting Group class action litigation.
UNITED STATES DISTRICT COURT, NORTHERN DISTRICT OF ILLINOIS, EASTERN DIVISION
JASON HUGHES, Individually and on Behalf of all Others Similarly Situated, Plaintiffs, v. HURON CONSULTING GROUP INC., et al., Defendants, Master File No. 09-CV-4734, Honorable Elaine E. Bucklo
SUMMARY NOTICE OF (I) PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF HURON CONSULTING GROUP INC. ("HURON") BETWEEN APRIL 27, 2006 AND JULY 31, 2009, INCLUSIVE, AND WHO WERE DAMAGED THEREBY.
PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
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: (i) of the pendency of the above- captioned action (the "Action") as a class action on behalf of the persons and entities described above (the "Class"), except for certain persons and entities who are excluded from the Class by definition; and (ii) that a settlement of the Action (the "Settlement") for $27,000,000 in cash plus 474,547 shares of Huron common stock (valued at approximately $11 million as of November 24, 2010) has been proposed by the parties. A hearing will be held on May 6, 2011, at 1:30 p.m., before the Honorable Elaine E. Bucklo, at the Everett McKinley Dirksen United States Courthouse, Courtroom 1441, 219 South Dearborn Street, Chicago, Illinois 60604, to determine: (i) whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (ii) whether the Released Claims against Defendants and the other Released Persons should be dismissed with prejudice; (iii) whether the terms and conditions of the issuance and distribution of shares of Huron common stock as part of the Settlement consideration pursuant to an exemption from registration requirements under Section 3(a)(10) of the Securities Act of 1933, as amended, are fair to all persons to whom the shares will be distributed; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of litigation expenses should be granted.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING ACTION AND THE SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of (I) Pendency and Proposed Settlement of Class Action; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice") and Proof of Claim and Release form (the "Claim Form"), you may obtain copies of these documents by contacting the Claims Administrator: In re Huron Consulting Group, Inc. Securities Litigation, c/o The Garden City Group, Inc., P.O. Box 9687, Dublin, OH 43017-4987, 1-888-584-7632.
Copies of the Notice and Claim Form may also be downloaded from the website maintained for the Settlement at www.huronsecuritieslitigation.com, or Lead Counsel's respective websites at: www.cohenmilstein.com; www.blbglaw.com; and www.labaton.com.
If you are a member of the Class, in order to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked no later than May 5, 2011. If you are a member of the Class and do not submit a proper Claim Form, you will not share in the distribution of the Net Settlement Fund but you will nevertheless be bound by any judgment entered by the Court in the Action. To exclude yourself from the Class, you must submit a request for exclusion such that it is received no later than April 22, 2011, in accordance with the instructions set forth in the Notice. Any objections to the proposed Settlement, the Plan of Allocation and/or the application for an award of attorneys' fees and reimbursement of litigation expenses must be filed with the Court and delivered to counsel for the parties as set forth in the Notice such that they are received no later than April 22, 2011, in accordance with the instructions set forth in the Notice. If you are a member of the Class and do not exclude yourself from the Class, you will be bound by any judgment entered by the Court in the Action.
PLEASE DO NOT CONTACT HURON, THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the Notice and Claim Form, may be made to Lead Counsel:
Carol V. Gilden, Esq., Cohen Milstein Sellers & Toll PLLC, 190 South LaSalle Street, Suite 1705, Chicago, Illinois 60603
Steven J. Toll, Esq., Cohen Milstein Sellers & Toll PLLC, 1100 New York Avenue N.W., West Tower, Suite 500, Washington, DC 20005-3964
Steven B. Singer, Esq., Bernstein Litowitz Berger & Grossmann LLP, 1285 Avenue of the Americas, New York, New York 10019
Jonathan M. Plasse, Esq., Labaton Sucharow LLP, 140 Broadway, New York, New York 10005
By Order of the Court
SOURCE Cohen Milstein Sellers & Toll PLLC, Labaton Sucharow LLP, Bernstein Litowitz Berger & Grossmann LLP