Notice of Proposed Class Action Settlement Involving all Persons and Entities that Purchased or Otherwise Acquired Eagle Bancorp, Inc. Securities
SEATTLE, Sept. 27, 2021 /PRNewswire/ --
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
SHIVA STEIN, Individually and On
EAGLE BANCORP, INC., SUSAN G.
Case No. 1:19-cv-06873-LGS
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION,
CERTIFICATION OF SETTLEMENT CLASS, AND
PROPOSED SETTLEMENT; (II) SETTLEMENT HEARING;
AND (III) MOTION FOR AN AWARD OF ATTORNEYS’ FEES
AND REIMBURSEMENT OF LITIGATION EXPENSES
This notice is for all persons and entities who, during the period between March 2, 2015 and July 17, 2019, inclusive, purchased or otherwise acquired Eagle Bancorp, Inc. (“Eagle”) Common Stock and/or Eagle Call Options, and/or wrote Eagle Put Options, and were 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 Southern District of New York, 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 printed Notice of (I) Pendency of Class Action, Certification of Settlement Class, and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses (the “Notice”). Unless otherwise defined herein, capitalized words used in this Summary Notice are defined in the Stipulation and Agreement of Settlement dated June 28, 2021 (“Stipulation”), which is available at www.EagleSecuritiesSettlement.com.
YOU ARE ALSO NOTIFIED that Plaintiffs in the Action have reached a proposed settlement of the Action for $7,500,000 in cash (the “Settlement”), that, if approved, will resolve all claims in the Action.
A hearing will be held on January 20, 2022 at 11:45 a.m. EST, before the Honorable Lorna G. Schofield at the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, Courtroom 1106, 40 Foley Square, New York, NY 10007, 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 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. If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at Eagle Bancorp, Inc. Securities Litigation, c/o JND Legal Administration, P.O. Box 91107, Seattle WA, 98111, 833-677-1091. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.EagleSecuritiesSettlement.com.
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 online no later than January 12, 2022. 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 December 30, 2021, 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 Litigation Expenses, must be filed with the Court and delivered to Lead Counsel and Defendants’ Counsel such that they are received no later than December 30, 2021, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk’s office, Eagle, 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.
Requests for the Notice and Claim Form should be made to:
Eagle Bancorp, Inc. Securities Litigation
c/o JND Legal Administration
P.O. Box 91107
Seattle, WA 98111
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
GLANCY PRONGAY & MURRAY LLP
Leanne Heine Solish, Esq.
1925 Century Park East, Suite 2100
Los Angeles, California 90067
By Order of the Court
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SOURCE JND Legal Administration