Levi & Korsinsky, LLP Announces Proposed Class Action Settlement in In re Avon Products Inc. Securities Litigation
Sep 28, 2020, 08:00 ET
NEW YORK, Sept. 28, 2020 /PRNewswire/ --
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
In re Avon Products Inc. Securities Litigation |
Case No. 19-cv-01420-MKV Hon. Mary Kay Vyskocil
|
TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED AVON PRODUCTS INC. ("AVON") PUBLICLY TRADED COMMON STOCK DURING THE PERIOD FROM JANUARY 21, 2016 THROUGH NOVEMBER 1, 2017, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure that a hearing will be held on January 20, 2021, at 2:00 p.m., before the Honorable Mary Kay Vyskocil, United States District Judge, at the Courthouse for the United States District Court, Southern District of New York, Courtroom 18C, Daniel Patrick Moynihan Courthouse, 500 Pearl Street, New York, New York 10007, for the purpose of determining, among other things, whether the following matters should be approved by the Court: (1) the proposed Settlement of the claims in the Action for the sum of $14,500,000 in cash as fair, reasonable, and adequate to the members of the Settlement Class; (2) whether, thereafter, the Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement dated August 21, 2020 ("Stipulation"); (3) whether the Plan of Allocation for the proceeds of the Settlement is fair, reasonable, and adequate and therefore should be approved; (4) whether the application of Lead Counsel for the payment of attorneys' fees and litigation expenses incurred in connection with the Action should be approved; and (5) whether the Lead Plaintiff and additional Plaintiff should receive an award pursuant to the Private Securities Litigation Reform Act of 1995. The Court may change the date of the Final Approval Hearing, or hold it remotely, without providing another notice. You do NOT need to attend the Hearing to receive a distribution from the Net Settlement Fund.
If you purchased or otherwise acquired Avon's publicly traded common stock from January 21, 2016 through November 1, 2017, inclusive, your rights will be affected by the settlement of this class action. If you have not received the detailed Notice of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys' Fees and Expenses (the "Notice") and the Proof of Claim and Release Form, you may obtain them free of charge by contacting the Claims Administrator, by mail at: Avon Products Inc. Securities Litigation, Claims Administrator, c/o Epiq Global, PO Box 5566, Portland, OR 97228-5566, or online at www.AvonSecuritiesLitigation.com.
If you are a member of the Settlement Class and wish to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim no later than December 19, 2020 establishing that you are entitled to recovery. As further described in the Notice, you will be bound by any Judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, no later than December 30, 2020. Any objections to the Settlement, Plan of Allocation, or requests for attorneys' fees and expenses must be served and filed, in accordance with the procedures set forth in the Notice, no later than December 30, 2020.
Inquiries, other than requests for the Notice, may be made to Lead Counsel for the Settlement Class: Gregory Mark Nespole, Esq, Levi & Korsinsky, LLP, 55 Broadway, 10th Floor, New York, NY 10006, [email protected].
INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE CLERK'S OFFICE, THE DEFENDANTS, OR DEFENDANTS' COUNSEL.
If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.
DATED: September 28, 2020
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK
SOURCE Levi & Korsinsky, LLP
