Robbins Geller Rudman & Dowd LLP Announce Proposed Settlement in the Advisory Board Securities Settlement

WASHINGTON--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Advisory Board Securities Settlement:

UNITED STATES DISTRICT COURT

FOR THE DISTRICT OF COLUMBIA

 

PLYMOUTH COUNTY RETIREMENT

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Civil No. 1:17-CV-01940-RC

ASSOCIATION, Individually and on Behalf of All

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CLASS ACTION

Others Similarly Situated,

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Plaintiff,

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vs.

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ADVISORY BOARD COMPANY, ROBERT W.

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MUSSLEWHITE, and MICHAEL T. KIRSHBAUM,

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Defendants.

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SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

 

TO:

ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED ADVISORY BOARD COMPANY (“ADVISORY BOARD”) COMMON STOCK DURING THE PERIOD BETWEEN MAY 6, 2015 AND FEBRUARY 23, 2016, INCLUSIVE (“CLASS” OR “CLASS MEMBERS”)

 

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

 

YOU ARE HEREBY NOTIFIED that a hearing will be held on May 6, 2020, at 2:30 p.m., before the Honorable Rudolph Contreras at the United States District Court, District of Columbia, E. Barrett Prettyman Federal Courthouse, 333 Constitution Avenue, N.W., Washington, D.C. to determine whether: (1) the proposed settlement (the “Settlement”) of the above-captioned action as set forth in the Stipulation of Settlement (“Stipulation”)1 for $7,500,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) the Judgment as provided under the Stipulation should be entered dismissing the Litigation with prejudice; (3) to award Lead Plaintiffs’ Counsel attorneys’ fees and expenses out of the Settlement Fund (as defined in the Notice of Pendency and Proposed Settlement of Class Action (“Notice”), which is discussed below) and, if so, in what amount; (4) to pay Lead Plaintiffs for their costs and expenses in representing the Class out of the Settlement Fund and, if so, in what amount; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable and adequate.

IF YOU PURCHASED OR ACQUIRED ADVISORY BOARD COMMON STOCK FROM MAY 6, 2015 THROUGH FEBRUARY 23, 2016, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form (“Proof of Claim”) by mail (postmarked no later than May 26, 2020) or electronically (no later than May 26, 2020). Your failure to submit your Proof of Claim by May 26, 2020, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Litigation. If you purchased or acquired Advisory Board common stock from May 6, 2015 through February 23, 2016, inclusive, and do not request exclusion from the Class, you will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.

If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other settlement documents, online at www.AdvisoryBoardSecuritiesSettlement.com, or by writing to:

Advisory Board Securities Settlement
Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 43326
Providence, RI 02940-3326

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Notice or for a Proof of Claim, may be made to Lead Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP

Ellen Gusikoff Stewart
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: 800/449-4900

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED BY APRIL 15, 2020, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. ALL CLASS MEMBERS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A TIMELY PROOF OF CLAIM.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY LEAD PLAINTIFFS’ COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES NOT TO EXCEED 25% OF THE $7,500,000 SETTLEMENT AMOUNT AND EXPENSES NOT TO EXCEED $60,000, AND/OR THE PAYMENT TO LEAD PLAINTIFFS FOR THEIR COSTS AND EXPENSES NOT TO EXCEED $10,000 IN THE AGGREGATE. ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL AND DEFENDANTS’ COUNSEL BY APRIL 15, 2020, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

 

DATED: January 6, 2020

               

BY ORDER OF THE COURT

         

UNITED STATES DISTRICT COURT

         

DISTRICT OF COLUMBIA

 

1 The Stipulation can be viewed and/or obtained at www.AdvisoryBoardSecuritiesSettlement.com.

Contacts

Media Contact:
Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
1- 619-231-1058

Contacts

Media Contact:
Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
1- 619-231-1058