Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Rite Aid Securities Litigation
The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Rite Aid Securities Litigation:
UNITED STATES DISTRICT COURT
IF YOU PURCHASED OR ACQUIRED RITE AID CORPORATION ("RITE AID") COMMON STOCK BETWEEN OCTOBER 20, 2016 AND JUNE 28, 2017, INCLUSIVE (THE "CLASS"), YOU COULD RECEIVE A PAYMENT FROM A CLASS ACTION SETTLEMENT. CERTAIN PERSONS ARE EXCLUDED FROM THE DEFINITION OF THE CLASS AS SET FORTH IN THE STIPULATION OF SETTLEMENT.
PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and by Order of the United States District Court for the Middle District of Pennsylvania, that in the above-captioned litigation (the "Action"), which is a certified class action, a Settlement has been proposed for $192,500,000.00 in cash. A hearing will be held on February 7, 2024, at 1:30 p.m., before the Honorable Jennifer P. Wilson, in Courtroom 8A, at the United States District Court for the Middle District of Pennsylvania, Sylvia H. Rambo U.S. Courthouse, 1501 North 6th Street, Harrisburg, PA 17102, for the purpose of determining whether: (1) the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (2) the proposed Plan of Allocation for distribution of the Settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (3) the application of Lead Counsel for the payment of attorneys' fees and expenses from the Settlement Fund, including interest earned thereon, and requests by Plaintiffs for their time and expenses, should be approved.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THE ACTION, AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND. If you have not received a detailed Notice of Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release ("Claim Form"), you may obtain copies of these documents by contacting the Claims Administrator: Rite Aid Securities Settlement, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 301135, Los Angeles, CA 90030-1135; [email protected]; 1-866-653-4874. You may also obtain copies of the Stipulation of Settlement, Notice, and Claim Form at www.RiteAidSecuritiesSettlement.com.
If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form by mail postmarked no later than February 12, 2024, or submit it online by that date. If you are a Class Member and do not submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will still be bound by any judgment entered by the Court in this Action (including the releases provided for therein).
If you are a Class Member, you will be bound by any judgment entered by the Court in this Action (including the releases provided for therein) whether or not you submit a Claim Form. If you previously excluded yourself from the Class, you will have no right to recover money pursuant to the Settlement.
Any objection to the Settlement, the Plan of Allocation, Lead Counsel's request for attorneys' fees and expenses, or Plaintiffs' request for time and expenses (if any) must be filed with the Court no later than January 24, 2024, and received by each of the following counsel no later than January 17, 2024:
Clerk of the Court
Robbins Geller Rudman & Dowd LLP
Counsel for Defendants:
Weil, Gotshal & Manges LLP
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above or email [email protected].
The Power of AI in Business How to use Chat GPT with ERP
Keynote Panel: The Continued Rise of AI: Embracing the Known and Unknown to Drive Business Results
Understanding Both Sides of the M&A Paradigm