PHILADELPHIA--(BUSINESS WIRE)--Sep 3, 2018--Claims administrator Angeion Group today announced that a proposed settlement has been reached in a class action involving all persons or entities (“Persons”) that purchased or otherwise acquired the common stock of Inventure Foods, Inc. (“Inventure or the “Company”, Ticker: SNAK) pursuant or traceable to Inventure’s secondary public offering that closed or about September 14, 2014 and were damaged thereby.
YOU ARE HEREBY NOTIFIED that a hearing will be held on November 2, 2018, at 10:00 a.m. MST, before the Honorable Randall Warner at the Superior Court of Arizona in Maricopa County, Courtroom 912, East Court Building, 101 W. Jefferson Street, Phoenix, Arizona 85003-2243, to determine whether: (1) the proposed settlement as set forth in the Stipulation of Settlement dated as of April 24, 2018 (the “Stipulation”) of the above-captioned action (the “Litigation”) for $4,200,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) to award Plaintiff’s Counsel attorneys’ fees and expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action (the “Notice”), which is discussed below); (3) to pay Plaintiff for its time and expenses it incurred in representing the Class in this Litigation out of the Settlement Fund; and (4) the Plan of Allocation should be approved by the Court, as fair, reasonable and adequate. This Litigation is a securities class action brought on behalf of those Persons who purchased or otherwise acquired the common stock of Inventure pursuant or traceable to Inventure’s shelf registration statement on Forms S-3 and S-3/A (Registration No. 333-196795), prospectus dated August 28, 2014, and/or prospectus supplement dated September 11, 2014 (“offering documents”), filed in connection with Inventure’s secondary public offering (“SPO”) that closed on or about September 14, 2014 (the “Class”), against Inventure, certain of its executives and directors, and three underwriters of Inventure’s secondary public offering (collectively, “Defendants”) for alleged misstatements and omissions of material facts in the offering documents.
IF YOU PURCHASED OR OTHERWISE ACQUIRED INVENTURE COMMON STOCK PURSUANT OR TRACEABLE TO THE COMPANY’S SPO, AND ARE A MEMBER OF THE CLASS, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.
To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim postmarked or submitted online on or before December 6, 2018. Your failure to submit your Proof of Claim by December 6, 2018 will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Litigation. If you are a Member of the Class and do not request exclusion, you will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.
THIS NOTICE IS JUST A SUMMARY. If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement or exclude yourself from the Settlement), and a Proof of Claim form, you may obtain these documents, as well as a copy of the Stipulation (which among other things contains definitions for the defined terms used in this Summary Notice) and other Settlement documents, online at www.InventureClassAction.com , or by writing to:
Inventure Secondary Public Offering Litigation Settlement c/o Claims Administrator 1650 Arch Street, Suite 2210 Philadelphia, PA 19103
Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court. Inquiries may also be made to a representative of Class Counsel c/o:
CHIMICLES & TIKELLIS LLP Kimberly Donaldson Smith 361 W. Lancaster Avenue Haverford, PA 19401 Phone: 610-642-8500
IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED NO LATER THAN OCTOBER 3, 2018, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT ENTERED IN THE LITIGATION EVEN IF THEY DO NOT FILE A TIMELY PROOF OF CLAIM.
IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFF’S COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES AND EXPENSES, AND/OR THE PAYMENT TO PLAINTIFF FOR ITS TIME AND EXPENSES. ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO CLASS COUNSEL BY OCTOBER 3, 2018, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.
Form and substance approved by Court Order dated August 7, 2018.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180903005003/en/
CONTACT: Angeion Group
Douglas S. Clauson
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Angeion Group
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PUB: 09/03/2018 08:00 AM/DISC: 09/03/2018 08:01 AM