Notice of Pendency and Proposed Settlement of Class Action Involving Purchasers of REV Group, Inc. Common Stock
Purchasers traceable to the IPO are the "IPO Class," purchasers traceable to the SPO are the "SPO Class," and purchasers or other acquirors during the Relevant Period are the "'34 Act Class."
SEATTLE, Oct. 4, 2021 /PRNewswire/ --
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF WISCONSIN
MILWAUKEE DIVISION
|
IN RE REV GROUP, INC. SECURITIES |
Lead Case No. 2:18-cv-1268-LA
|
SUMMARY NOTICE OF (i) PENDENCY OF CLASS ACTION; (ii)PROPOSED SETTLEMENT; (iii) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND LITIGATION EXPENSES; AND (iv) SETTLEMENT FAIRNESS HEARING
If you purchased shares of REV Group, Inc. ("REV Group" or the "Company") common stock (i) traceable to the January 26, 2017 initial public offering (the "IPO"); (ii) directly traceable to the October 13, 2017 secondary public offering (the "SPO"), i.e., purchased at $27.25 per share on October 13, 2017; or (iii) purchased or otherwise acquired REV Group common shares during the period from January 26, 2017 through June 7, 2018, inclusive (the "Relevant Period"), you are a "Class Member" and may be entitled to a payment from a class action settlement. Purchasers traceable to the IPO are the "IPO Class," purchasers traceable to the SPO are the "SPO Class," and purchasers or other acquirors during the Relevant Period are the "'34 Act Class." The IPO Class, SPO Class, and '34 Act Class are referred to as the "Classes."
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 Wisconsin (the "Court"), that the Court-appointed Lead Plaintiff Houston Municipal Employees Pension System, and Plaintiffs Bucks County Employees Retirement System and Gabriel Yandoli, on behalf of themselves and all members of the proposed Classes, and Defendants, have reached a proposed settlement of the claims in the above-captioned class action (the "Action") in the amount of $14,250,000 (the "Settlement Amount").
A hearing will be held before the Honorable Lynn Adelman, on December 9, 2021, at 11:00 a.m., in the United States District Court for the Eastern District of Wisconsin, United States Federal Building and Courthouse, 517 E. Wisconsin Avenue, Courtroom 390, Milwaukee, Wisconsin 53202 (the "Settlement Fairness 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 May 19, 2021; (iii) approve the proposed Plan of Allocation for distribution of the settlement funds available for distribution to Class Members (the "Net Settlement Fund"); and (iv) approve Lead Counsel's motion for attorneys' fees and Litigation Expenses. The Court may change the date of the Settlement Fairness Hearing, or hold it telephonically, without providing another notice. You do NOT need to attend the Settlement Fairness Hearing to receive a distribution from the Net Settlement Fund.
IF YOU ARE A MEMBER OF THE CLASSES, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT, AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. You may obtain a Claim Form and review the Notice of (i) Pendency of Class Action and Class Certification; (ii) Proposed Settlement; (iii) Motion for an Award of Attorneys' Fees and Litigation Expenses; and (iv) Settlement Fairness Hearing ("Internet Notice") on the website, www.RevGroupSecuritiesLitigation.com, or by contacting the Claims Administrator at:
In Re REV Group, Inc. Securities Litigation
c/o JND Legal Administration
PO Box 91337
Seattle, WA 98111
Inquiries, other than requests for the Notice/Claim Form or for information about the status of a claim, may also be made to Plaintiffs' Counsel:
Plaintiffs' Counsel
Bernstein Liebhard LLP
Michael S. Bigin, Esq.
10 East 40th Street
New York, NY 10016
(212) 779-1414
Robbins Geller Rudman & Dowd LLP
Brian Cochran, Esq.
200 South Wacker Drive, 31st Floor
Chicago, IL 60606
(312) 674-4674
If you are a 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 December 21, 2021. If you are a 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 Class Member and wish to exclude yourself from the Classes, you must submit a written request for exclusion in accordance with the instructions set forth in the Internet Notice such that it is received no later than November 18, 2021. If you properly exclude yourself from the Classes, 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, Lead Counsel's motion for attorneys' fees and Litigation Expenses, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Internet Notice, such that they are received no later than November 18, 2021.
For any questions, visit www.RevGroupSecuritiesLitigation.com or call toll-free at 833-636-2108.
BY ORDER OF
THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF WISCONSIN
View original content:https://www.prnewswire.com/news-releases/notice-of-pendency-and-proposed-settlement-of-class-action-involving-purchasers-of-rev-group-inc-common-stock-301381745.html
SOURCE JND Legal Administration
