Labaton Sucharow LLP Announces Proposed Class Action Settlement in In re Celadon Group, Inc. Securities Litigation
NEW YORK, Nov. 5, 2018 /PRNewswire/ --
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
IN RE CELADON GROUP, INC. SECURITIES LITIGATION | Case No. 17-cv-02828-JFK |
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED
SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES
To: All Persons and Entities that Purchased or Otherwise Acquired the Publicly Traded Common Stock of Celadon Group, Inc. During the Period from October 29, 2013 through April 13, 2018, Inclusive (the "Class Period"), and Were Damaged 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 Southern District of New York, that the Greater Pennsylvania Carpenters' Pension Fund and the Arkansas Teacher Retirement System (collectively, "Lead Plaintiffs"), on behalf of themselves and the Settlement Class, and Celadon Group, Inc., Bobby L. Peavler, and Paul A. Will (collectively, "Defendants") have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $5,500,000 that, if approved, will resolve the Action in its entirety (the "Settlement").
A hearing will be held before the Honorable John F. Keenan of the United States District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007, Courtroom 20C, at 11:00 a.m. on January 16, 2019 (the "Settlement 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 October 3, 2018; (iii) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (iv) approve Lead Counsel's Fee and Expense Application. The Court may change the date of the Settlement Hearing without providing another notice. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Notice and Claim Form, you may obtain copies of these documents by visiting the website dedicated to the Settlement, www.CeladonGroupSecuritiesLitigation.com, or by contacting the Claims Administrator at:
In re Celadon Group, Inc. Securities Litigation
Claims Administrator
P.O. Box 6006
Portland, OR 97228-6006
(877) 214-3826
Inquiries, other than requests for the Notice/Claim Form or for information about the status of a claim, may also be made to Lead Counsel:
Carol C. Villegas, Esq.
LABATON SUCHAROW LLP
140 Broadway
New York, NY 10005
www.labaton.com
(888) 219-6877
If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or received no later than February 25, 2019. If you are a Settlement 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 in the Action, whether favorable or unfavorable.
If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than December 26, 2018. 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, 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, the proposed Plan of Allocation, and/or Lead Counsel's Fee and Expense Application must be filed with the Court and mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are filed and received no later than December 26, 2018.
PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE.
DATED: November 5, 2018 | BY ORDER OF THE COURT UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK |
/URL: www.CeladonGroupSecuritiesLitigation.com
SOURCE United States District Court for the Southern District of New York
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