Summary Notice of Pendency of Class Action and Proposed Settlement to All Purchasers of Endurance International Group Holdings, Inc. Common Stock
Feb 11, 2019, 09:00 ET
SEATTLE, Feb. 11, 2019 /PRNewswire/ --
UNITED STATES DISTRICT COURT
DISTRICT OF MASSACHUSETTS
CHRISTOPHER MACHADO, and MICHAEL RUBIN, Individually and on Behalf of All Others Similarly Situated, |
Case No. 1:15-cv-11775-GAO |
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Plaintiffs, |
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v. |
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ENDURANCE INTERNATIONAL GROUP HOLDINGS, INC., HARI RAVICHANDRAN, and TIVANKA ELLAWALA, |
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Defendants. |
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This is a summary notice of: (i) pendency of class action and proposed settlement; (ii) settlement fairness hearing; and (iii) motion for an award of attorneys' fees and reimbursement of litigation expenses.
This notice is to all persons and/or entities who or which purchased or otherwise acquired Endurance International Group Holdings, Inc. ("Endurance") common stock during the period of October 25, 2013 through December 16, 2015, inclusive, including all persons and entities who or which purchased or otherwise acquired Endurance common stock pursuant and/or traceable to the registered public offering conducted on or about October 25, 2013, and who were injured thereby (the "Settlement Class").
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 District of Massachusetts, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Plaintiffs in the Action have reached a proposed settlement of the Action for $18,650,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on September 13, 2019 at 10:00 a.m., before the Honorable George A. O'Toole, Jr. at the United States District Court for the District of Massachusetts, John Joseph Moakley U.S. Courthouse, Courtroom 9, 1 Courthouse Way, Boston, Massachusetts 02210, 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 Agreement of Settlement dated July 6, 2018 ("Stipulation") (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of 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. The Notice and Proof of Claim and Release Form ("Claim Form"), can be downloaded from the website maintained by the Claims Administrator, www.EnduranceSecuritiesLitigation.com. You may also obtain copies of the Notice and Claim Form by contacting the Claims Administrator at Endurance Securities Class Action Litigation, c/o JND Legal Administration, P.O. Box 91346, Seattle, WA 98111, 1-833-747-6675.
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 no later than May 31, 2019. 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 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 August 23, 2019, 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 judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than August 23, 2019, in accordance with the instructions set forth in the Notice.
All capitalized words and terms not defined in this notice shall have the meanings stated in the Stipulation, which can be downloaded from www.EnduranceSecuritiesLitigation.com.
Please do not contact the Court, the Clerk's office, Endurance, or its counsel regarding this notice. All questions about this notice, the proposed 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:
Endurance Securities Class Action Litigation
c/o JND Legal Administration
P.O. Box 91346
Seattle, WA 98111
833-747-6675
www.EnduranceSecuritiesLitigation.com
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
GLANCY PRONGAY & MURRAY LLP
Attn: Jason Krajcer
1925 Century Park East, Suite 2100
Los Angeles, California 90067
(888) 773-9224
settlements@glancylaw.com
By Order of the Court
SOURCE Glancy Prongay & Murray LLP