Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of JCPenney Securities Litigation

TYLER, Texas--(BUSINESS WIRE)--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the JCPenney Securities Litigation:

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF TEXAS
TYLER DIVISION

ALAN B. MARCUS, Individually and on Behalf of All Others Similarly Situated,	§ §	Civil Action No. 6:13-cv-00736-RWS-KNM (Consolidated)
Plaintiff,	§	CLASS ACTION
vs.	§
J.C. PENNEY COMPANY, INC., et al.,	§
Defendants.	§
	§
	§

SUMMARY NOTICE
TO:	ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED J.C. PENNEY COMPANY, INC. (“JCPENNEY” OR THE “COMPANY”) COMMON STOCK OR EXCHANGE-TRADED CALL OPTIONS, OR WHO SOLD EXCHANGE-TRADED JCPENNEY PUT OPTIONS (“SECURITIES”), BETWEEN AUGUST 20, 2013 AND SEPTEMBER 26, 2013, INCLUSIVE

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Eastern District of Texas, a hearing will be held on November 29, 2017, at 10:00 a.m., before the Honorable K. Nicole Mitchell, United States Magistrate Judge, at the William M. Steger Federal Building and United States Courthouse, 211 West Ferguson Street, Room 353, Tyler, TX 75702, for the purpose of determining (1) whether the proposed Settlement of the Action for the sum of Ninety-Seven Million, Five Hundred Thousand Dollars ($97,500,000.00) in cash should be approved by the Court as fair, reasonable, and adequate, which would result in this Action being dismissed with prejudice against the Released Persons as set forth in the Settlement Agreement dated June 14, 2017; (2) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (3) the reasonableness of the application of Lead Counsel for the payment of attorneys’ fees and expenses in connection with this Action, together with interest thereon, and the application of Plaintiffs for an award of their time and expenses in representing the Class.

If you purchased, acquired or sold JCPenney Securities, your rights may be affected by this Action and the Settlement thereof. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to JCPenney Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 404005, Louisville, KY 40233-4005, or by downloading this information at www.jcpenneysecuritieslitigation.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form postmarked no later than November 6, 2017, or online at www.jcpenneysecuritieslitigation.com no later than November 6, 2017, establishing that you are entitled to a recovery. You will be bound by any judgment rendered in the Action unless you request to be excluded, in writing, to JCPenney Securities Litigation, Claims Administrator, EXCLUSIONS, c/o Gilardi & Co. LLC, 3301 Kerner Blvd., San Rafael, CA 94901, postmarked by November 8, 2017.

Any objection to any aspect of the Settlement must be filed with the Clerk of the Court no later than November 8, 2017, and received by the following no later than November 8, 2017:

Counsel for Plaintiffs	Counsel for Defendants
ROBBINS GELLER RUDMAN & DOWD LLP	GIBSON, DUNN & CRUTCHER LLP
ROBERT R. HENSSLER JR.	JASON J. MENDRO
655 West Broadway, Suite 1900	1050 Connecticut Ave., N.W.
San Diego, CA 92101	Washington, D.C. 20036
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
DATED: July 24, 2017	BY ORDER OF THE COURT
	UNITED STATES DISTRICT COURT
	EASTERN DISTRICT OF TEXAS