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Labaton Sucharow LLP Announces a Notice of Settlement in Plymouth County Retirement Association v. Spectrum Brands Holdings, Inc., et al.

NEW YORK, June 15, 2020 /PRNewswire/ --

STATE OF WISCONSIN                 CIRCUIT COURT                             DANE COUNTY

BRANCH 3



PLYMOUTH COUNTY RETIREMENT
ASSOCIATION, Individually and on Behalf of
All Others Similarly Situated,

                                                Plaintiff,

            vs.

SPECTRUM BRANDS HOLDINGS, INC.,
DAVID M. MAURA, JOSEPH S.
STEINBERG, GEORGE C. NICHOLSON,
CURTIS GLOVIER, FRANK IANNA, GERALD
LUTERMAN, ANDREW A. MCKNIGHT,
ANDREW WHITTAKER and HRG GROUP, INC.,

                                                Defendants.


 

Case No. 2019-CV-000982

Case Code: 30301 (Money Judgment)

Hon. Valerie L. Bailey-Rihn

 

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 Common Stock of Spectrum Brands Holdings, Inc. ("Spectrum" or the "Company"), as Successor-in-Interest to HRG Group, Inc. ("HRG"), Pursuant or Traceable to the Registration Statement for the July 13, 2018, Merger of Spectrum Brands Legacy, Inc. ("Old Spectrum") and HRG (the "Settlement Class").

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Circuit Court of the State of Wisconsin, Dane County, and Wis. Stat. §803.08, that Plymouth County Retirement Association ("Plaintiff" or "Plymouth County"), on behalf of itself and all other members of the proposed Settlement Class, on the one hand, and David M. Maura, Joseph S. Steinberg, George C. Nicholson, Curtis Glovier, Frank Ianna, Gerald Luterman, Andrew A. McKnight, Andrew Whittaker, and HRG (collectively, "Defendants"), on the other, have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $9,000,000 that, if approved, will resolve the Action in its entirety (the "Settlement").

A hearing will be held before the Honorable Valerie L. Bailey-Rihn on August 20, 2020, at 10:00 a.m., in Courtroom 8107 at the Circuit Court of the State of Wisconsin, Dane County Courthouse, 215 South Hamilton Street, Madison, WI 53703 (the "Settlement Hearing") to determine whether the Court should, among other things: (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 as of May 1, 2020; (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, or hold it telephonically, 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 Proof of Claim and Release form ("Claim Form"), you may obtain copies of these documents by visiting the website dedicated to the Settlement, www.spectrumbrandssettlement.com, or by contacting the Claims Administrator at:

Spectrum Brands Holdings Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173104
Milwaukee, WI  53217
(800) 328-6074

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:

Alfred L. Fatale III, Esq.
LABATON SUCHAROW LLP
140 Broadway
New York, NY 10005
(888) 219-6877
settlementquestions@labaton.com

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 submitted online no later than October 2, 2020.  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 July 30, 2020.  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 July 30, 2020.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS,
OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

Dated:  June 15, 2020   

BY ORDER OF THE CIRCUIT COURT OF THE


STATE OF WISCONSIN, DANE COUNTY

 

Cision

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