Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the BHP Securities Litigation
NEW YORK--(BUSINESS WIRE)--Nov 19, 2018--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the BHP Securities Litigation:
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
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 (the “Court”), that the above-captioned litigation (the “Litigation”) has been certified for the purpose of settlement only as a class action on behalf of the Class, except for certain persons and entities who are excluded from the Class by definition as set forth in the full printed Notice of Pendency of Class Action and Proposed Settlement (the “Notice”).
YOU ARE ALSO NOTIFIED that Plaintiffs in the Litigation have reached a proposed settlement of the Litigation for $50,000,000.00, that, if approved, will resolve all claims in the Litigation.
A hearing will be held on March 5, 2019, at 11:00 a.m., before the Honorable Naomi Reice Buchwald, United States District Judge, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 21A, New York, NY 10007-1312, for the purpose of determining: (1) whether the proposed settlement of the claims in the Litigation for the principal amount of $50,000,000.00, plus interest, should be approved by the Court as fair, just, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice against Defendants, and whether the releases specified and described in the Stipulation of Settlement (the “Stipulation”) dated September 14, 2018 (and in the Notice) should be granted 1; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for an award of attorneys’ fees and expenses and Plaintiffs’ expenses in connection with this Litigation should be approved.
IF YOU PURCHASED OR OTHERWISE ACQUIRED ADRs DURING THE PERIOD FROM SEPTEMBER 25, 2014 THROUGH NOVEMBER 30, 2015, 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, you may obtain copies by writing to BHP Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 404090, Louisville, KY 40233-4090, or at www.bhpsecuritieslitigation.com.
If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail ( postmarked no later than April 2, 2019 ) or electronically ( no later than April 2, 2019 ), establishing that you are entitled to recovery. If you are a 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 Litigation.
If you are a Class Member and you desire to be excluded from the Class, you must submit a request for exclusion, in writing and in accordance with the instructions set forth in the Notice, to BHP Securities Litigation, Exclusions, c/o Gilardi & Co. LLC, 3301 Kerner Blvd., San Rafael, CA 94901, postmarked no later thanJanuary 15, 2019. All Class Members who do not timely and validly request exclusion from the Class in response to the Notice will be bound by any judgment entered in the Litigation pursuant to the Stipulation.
Any objection to the settlement, the Plan of Allocation, or the fee and expense application must be in accordance with the instructions set forth in the Notice and received by each of the following recipients no later than January 15, 2019:
PLEASE DO NOT CONTACT THE COURT, THE CLERK ’S OFFICE, BHP OR BHP’S COUNSEL REGARDING THIS NOTICE. If you have any questions about the settlement, you may contact Lead Counsel at the address listed above or by an e-mail to Lead Counsel at email@example.com. Copies of certain pleadings and other documents filed in the Litigation can also be found at www.bhpsecuritieslitigation.com.
1 All capitalized terms used in this Summary Notice that are not otherwise defined herein shall have the meanings ascribed to them in the Stipulation, which is available at www.bhpsecuritieslitigation.com.
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CONTACT: Robbins Geller Rudman & Dowd LLP
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Geller Rudman & Dowd LLP
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PUB: 11/19/2018 12:27 PM/DISC: 11/19/2018 12:27 PM