NEW YORK, Feb. 20, 2020 /PRNewswire/ --
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF TEXAS
OKLAHOMA LAW ENFORCEMENT
ADEPTUS HEALTH INC., et al.,
Case No. 4:17-CV-0449-ALM
Judge Amos L. Mazzant, III
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED
SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND
(III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES
All persons who purchased or otherwise acquired Adeptus Health Inc. ("Adeptus") Class A common stock during the period from June 25, 2014 through March 1, 2017, inclusive, and were damaged thereby ("Settlement Class"). Certain persons and entities are excluded from the Settlement Class as set forth in detail in the Stipulation and Agreement of Settlement dated November 26, 2019 ("Stipulation") and the Notice described below.
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 Eastern District of Texas ("Court"), that the above-captioned action ("Action") has been provisionally certified as a class action for the purposes of settlement only on behalf of the Settlement Class. YOU ARE ALSO NOTIFIED that the parties to the Action have reached a proposed settlement for $44,000,000 in cash ("Settlement") that, if approved, will resolve all claims in the Action.
A hearing will be held on May 20, 2020 at 11:30 a.m., before the Honorable Amos L. Mazzant, III at the Paul Brown United States Courthouse, 101 East Pecan Street, Sherman, TX 75090, to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the releases specified and described in the Stipulation (and in the Notice described below) should be entered; (iii) whether the Settlement Class should be certified for purposes of effectuating the Settlement; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Lead Counsel's motion for attorneys' fees and litigation expenses should be approved.
If you are a member of the Settlement Class, 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 Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at Adeptus Health Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173087, Milwaukee WI 53217, 1-866-778-9468, [email protected]. Copies of the Notice and Claim Form can also be downloaded from the website for the Settlement, www.AdeptusHealthSecuritiesLitigation.com, or from Lead Counsel's websites, www.blbglaw.com and www.ktmc.com.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked (if mailed), or online, no later than June 8, 2020, in accordance with the instructions set forth in the Claim Form. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any releases, judgments, or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than April 29, 2020, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any releases, judgments, or orders entered by the Court in the Action and you will not be eligible to share in the net proceeds of the Settlement. Excluding yourself is the only option that may allow you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlement. Please note, however, if you decide to exclude yourself from the Settlement Class, you may be time-barred from asserting certain claims covered by the Action by a statute of repose.
Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel's motion for attorneys' fees and litigation expenses, must be filed with the Court and delivered to Lead Counsel and designated Defendants' Counsel such that they are received no later than April 29, 2020, in accordance with the instructions set forth in the Notice.
PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, ADEPTUS, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE. All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Requests for the Notice and Claim Form should be made to the Claims Administrator:
All other inquiries should be made to Lead Counsel:
Jeremy P. Robinson, Esq.
Bernstein Litowitz Berger & Grossmann LLP
1251 Avenue of the Americas
New York, NY 10020
Gregory M. Castaldo, Esq.
Kessler Topaz Meltzer & Check, LLP
280 King of Prussia Road
Radnor, PA 19087
Dated: February 20, 2020
BY ORDER OF THE COURT
United States District Court
Eastern District of Texas
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SOURCE Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check, LLP