Notice of Proposed Class Action Settlement Involving All Persons and Entities Who Purchased or Otherwise Acquired Shares of Fenix Parts
SEATTLE, Jan. 10, 2020 /PRNewswire/ --
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
Case No. 1:17-cv-07896
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS’ FEES
AND REIMBURSEMENT OF LITIGATION EXPENSES
This notice is for all persons and entities who purchased or otherwise acquired shares of Fenix Parts, Inc. (“Fenix”) common stock (i) in Fenix’s initial public offering on May 14, 2015, and/or (ii) on the public market between May 14, 2015 and June 27, 2017, inclusive, and were allegedly damaged thereby (the “Settlement Class”):
YOUR RIGHTS WILL 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 an Order of the United States District Court for the Northern District of Illinois, that the above-captioned litigation (the “Action”) has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full Notice of (I) Pendency of Class Action, Certification of Settlement Class, and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses (the “Notice”).
YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed Settlement of the Action for $3,300,000 in cash (the “Settlement”), that, if approved, will resolve all claims in the Action.
A hearing will be held on March 6, 2020 at 10:30 a.m., before the Honorable Charles R. Norgle at the United States District Court for the Northern District of Illinois, Everett McKinley Dirksen United States Courthouse, Courtroom 2341, 219 South Dearborn Street, Chicago, IL 60604, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated November 6, 2019 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel’s application for an award of attorneys’ fees and reimbursement of Litigation Expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. The Notice and Proof of Claim and Release Form (“Claim Form”), can be downloaded from the website maintained by the Claims Administrator, www.FenixSecuritiesLitigation.com. You may also obtain copies of the Notice and Claim Form by contacting the Claims Administrator at Beezley v. Fenix Parts, Inc. et al., c/o JND Legal Administration, P.O. Box 91222, Seattle, WA 98111-9322, 1-844-961-0322.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked or submitted on-line at www.FenixSecuritiesLitigation.com no later than April 24, 2020. If you are a Settlement 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 Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than February 14, 2020, in accordance with the instructions set forth in the Notice. 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 and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendants’ Counsel such that they are received no later than February 14, 2020, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk’s office, Fenix, or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to
LEVI & KORSINSKY, LLP
Nicholas I. Porritt, Esq.
1101 30th Street N.W., Suite 115
Washington, D.C. 20007
GLANCY PRONGAY & MURRAY LLP
Ex Kano Sams II, Esq.
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Requests for the Notice and Claim Form should be made to:
Beezley v. Fenix Parts, Inc. et al.
c/o JND Legal Administration
P.O. Box 91222
Seattle, WA 98111-9322
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SOURCE JND Legal Administration