Robbins Geller Rudman & Dowd LLP Announces a Notice of Pendency and Proposed Settlement of Class Action in the GoHealth, Inc. Securities Litigation
SAN DIEGO, March 18, 2024 /PRNewswire/ --
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
In re GOHEALTH, INC. SECURITIES LITIGATION | ) ) ) | Case No. 1:20-cv-05593
CLASS ACTION |
This Document Relates To:
ALL ACTIONS. | ) ) ) ) |
Judge Jeremy C. Daniel |
SUMMARY NOTICE
TO: | ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED GOHEALTH, INC. ("GOHEALTH") CLASS A COMMON STOCK BETWEEN JULY 14, 2020, AND JANUARY 10, 2021, INCLUSIVE |
THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Illinois, Eastern Division (the "Court") and Rule 23 of the Federal Rules of Civil Procedure, that (i) the above-captioned litigation (the "Litigation") has been preliminarily certified as a class action on behalf of a class of all Persons who purchased or otherwise acquired GoHealth Class A common stock between July 14, 2020, and January 10, 2021, inclusive (the "Class Period"), except for certain Persons excluded from the Class as defined in the full printed Notice of Pendency and Proposed Settlement of Class Action ("Notice"), which is available as described below; and (ii) Lead Plaintiffs and Defendants in the Litigation have reached an agreement to settle the Litigation for $29,250,000 in cash (the "Settlement"). If the Settlement is approved it will resolve all claims in the Litigation. Any capitalized terms used in this Summary Notice that are not otherwise defined herein shall have the meanings ascribed to them in the Stipulation of Settlement dated February 7, 2024 (the "Stipulation"), and the Notice.
A hearing will be held on May 22, 2024, at 9:30 a.m., before the Honorable Jeremy C. Daniel, at the Everett McKinley Dirksen U.S. Courthouse, 219 South Dearborn Street, Chicago, Illinois 60604, for the purpose of determining: (1) whether the proposed settlement of the claims in the Litigation for the sum of $29,250,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether a Class should be certified for purposes of the Settlement; (3) whether, thereafter, this Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation; (4) whether the proposed Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; and (5) the reasonableness of the application of Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with this Litigation together with the interest earned thereon (and any payment to the Lead Plaintiffs pursuant to the Private Securities Litigation Reform Act of 1995 in connection with their representation of the Class).
If you purchased or otherwise acquired GoHealth Class A common stock between July 14, 2020, and January 10, 2021, inclusive, your rights may be affected by the settlement of this Litigation. If you have not received a detailed Notice and a copy of the Proof of Claim and Release form ("Proof of Claim"), you may obtain copies (as well as a copy of the Stipulation) by writing to GoHealth Securities Litigation, Claims Administrator, c/o A.B. Data, Ltd., P.O. Box 173061, Milwaukee, WI 53217, or by downloading this information at www.GoHealthSecuritiesLitigation.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must either submit a Proof of Claim online at www.GoHealthSecuritiesLitigation.com by June 12, 2024, or by mail postmarked no later than June 12, 2024, establishing that you are entitled to recovery.
If you desire to be excluded from the Class, you must submit a request for exclusion postmarked by May 1, 2024, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the terms and conditions of the Stipulation.
Any objection to the Settlement must be mailed or delivered to the Clerk of the Court and counsel for the Settling Parties at the addresses below such that it is received no later than May 1, 2024:
Court: | Counsel for Lead Plaintiffs: | Counsel for Defendants: |
UNITED STATES DISTRICT COURT | Theodore J. Pintar | Glenn Vanzura |
PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.
If you have any questions about the Settlement, you may contact counsel for Lead Plaintiffs at the address listed above, call (800) 449-4900, email [email protected], or go to the following website: www.GoHealthSecuritiesLitigation.com.
DATED: February 27, 2024 | BY ORDER OF THE COURT UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS |
SOURCE Robbins Geller Rudman & Dowd LLP
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