Saxena White P.A. Announces Preliminary Approval Granted in Class Action Settlement Involving Purchasers of Universal Health Services Common Stock
BOCA RATON, Fla., April 12, 2021 /PRNewswire/ --
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF PENNSYLVANIA
TEAMSTERS LOCAL 456 PENSION
UNIVERSAL HEALTH SERVICES,
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, AND PROPOSED SETTLEMENT OF CLASS ACTION; (II) SETTLEMENT HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS’ FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities who or which, during the period from March 2, 2015, through July 25, 2017 inclusive, purchased or otherwise acquired Universal Health Services, Inc. (“UHS”) common stock, and were damaged thereby (the “Settlement Class”)
PLEASE READ THIS NOTICE CAREFULLY. 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 Eastern District of Pennsylvania, 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 as set forth in the full printed Notice Of (I) Pendency Of Class Action, Certification Of Settlement Class, And Proposed Settlement of Class Action; (II) Settlement 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 $17,500,000.00 in cash (the “Settlement”), that, if approved, will resolve all claims in the Action.
A hearing will be held on July 15, 2021 at 10:00 a.m., before the Honorable Joel H. Slomsky at the United States District Court for the Eastern District of Pennsylvania, James A. Byrne United States Courthouse, 601 Market Street, Philadelphia, PA 19106, or by telephonic, video conferencing or other electronic means, as posted on the website of the Claims Administrator. The hearing will 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 (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 UHS Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173119, Milwaukee, WI 53217, or calling 800-547-4406. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.uhssecuritieslitigation.com (the “Settlement Website”).
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked or submitted to the Settlement Website no later than July 8, 2021. 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 June 24, 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 expenses, must be filed with the Court and delivered to representatives of Lead Counsel and Defendants’ Counsel such that they are received no later than June 24, 2021, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk’s office, UHS, or Defendants’ 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:
Dated: April 12, 2021
By Order of the Court
United States District Court
Eastern District of Pennsylvania
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SOURCE Saxena White P.A.