Saxena White P.A. Announces $1.955 Million Proposed Class Action Settlement Involving All Persons Who Purchased or Otherwise Acquired the Publicly Traded Common Stock of Great Lakes Dock & Dredge Corporation from August 7, 2012 to August 7, 2013

CHICAGO--()--The following statement is being issued by Saxena White P.A. in regards to a proposed class action settlement.

     
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
 
IN RE GREAT LAKES DREDGE & DOCK Case No. 1:13-cv-02115
CORPORATION SECURITIES LITIGATION Honorable Charles R. Norgle, Sr.
 

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT, CERTIFICATION OF SETTLEMENT CLASS, FAIRNESS HEARING, AND MOTION FOR AN AWARD OF ATTORNEYS’ FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED COMMON STOCK OF GREAT LAKES DOCK & DREDGE CORPORATION (“GLDD”) FROM AUGUST 7, 2012 TO AUGUST 7, 2013, INCLUSIVE, (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 Northern District of Illinois (the “Court”), that the above-captioned action (the “Action”) has been certified, for settlement purposes only, as a class action on behalf of the Settlement Class, as set forth in the full printed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys’ Fees and Settlement Fairness Hearing (the “Notice”).

YOU ARE ALSO NOTIFIED pursuant to an Order of the Court, that a hearing will be held on September 18, 2015, at 10:00 a.m., in Courtroom 2341 before the Honorable Charles R. Norgle, Sr. at the Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, Illinois 60604, to determine whether: (1) a proposed settlement (the “Settlement”) of claims in the Action in exchange for a payment of $1,955,000, as set forth in the May 26, 2015 Stipulation of Settlement (the “Stipulation”), should be approved by the Court as fair, reasonable, and adequate; (2) the Action should be dismissed with prejudice as set forth in the Stipulation; (3) the plan for distributing the proceeds of the Settlement (the “Plan of Allocation”) is fair, reasonable and adequate; and (4) the applications for fees and 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 a Proof of Claim and Release form (“Proof of Claim”), you may obtain copies of these documents by contacting the Claims Administrator at In re Great Lakes Dock & Dredge Corporation Securities Litigation, c/o Epiq Class Action & Claims Solutions, Inc., P.O. Box 2995, Portland, OR 97208-2995; 866-329-5543. Copies of the Notice and Proof of Claim can also be downloaded from the website maintained by the Claims Administrator, www.gldredgesettlement.com. You must submit a valid Proof of Claim received no later than September 30, 2015 to be eligible for any payment from the Settlement proceeds.

You may request to be excluded from the Settlement Class by following the instructions in the Notice. Any class member who does not timely and validly request exclusion by August 19, 2015 will be bound by any judgment entered in the Action pursuant to the Stipulation.

You may object to the Settlement, the Plan of Allocation, or the applications for fees and expenses by sending (a) a written statement identifying your name, address, and telephone number, and, if represented by counsel, your counsel’s name and contact information; (b) proof of ownership of GLDD common stock during the Settlement Class Period, including the number of GLDD shares and the date or dates of purchase; (c) a statement explaining your objection and your reasons for such objection; and (d) any supporting documentation. You must send these materials by first class mail to the following addresses so they are received by September 4, 2015:

 

The Court

Clerk of the Court
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS – EASTERN DIVISION

219 South Dearborn Street

Chicago, Illinois 60604
 

Lead Plaintiff’s Counsel

Lester R. Hooker
Saxena White P.A.
5200 Town Center Circle, Suite 601
Boca Raton, Florida 33486
 

Counsel for Defendants

Walter C. Carlson
Sidley Austin LLP
One South Dearborn Street
Chicago, Illinois 60603
 

If you have any questions about the Settlement, you may call 866-329-5543 or contact Lead Plaintiff’s Counsel at the address listed above. PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

   
DATED: June 12, 2015 BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS

Contacts

Saxena White P.A.
Lester R. Hooker, 561-206-6708
lhooker@saxenawhite.com

Contacts

Saxena White P.A.
Lester R. Hooker, 561-206-6708
lhooker@saxenawhite.com