NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the MetLife Securities Litigation:
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK |
||
|
x |
|
CITY OF WESTLAND POLICE AND FIRE RETIREMENT SYSTEM, Individually and on Behalf of All Others Similarly Situated,
Plaintiff, vs. METLIFE INC., et al.,
Defendants. |
: : : : : : : : x |
Civil Action No. 1:12-cv-00256-LAK CLASS ACTION
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION |
TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF METLIFE INC. (“METLIFE” OR THE “COMPANY”) IN THE COMPANY’S AUGUST 3, 2010 OFFERING AT $42.00 PER SHARE OR THE COMPANY’S MARCH 4, 2011 OFFERING AT $43.25 PER SHARE, OR DURING THE PERIOD BETWEEN FEBRUARY 9, 2011, AFTER THE PUBLICATION OF METLIFE’S FOURTH QUARTER AND FULL YEAR 2010 RESULTS, AND OCTOBER 6, 2011, INCLUSIVE
THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. THIS NOTICE IS INTENDED TO ADVISE YOU OF THE SETTLEMENT. IT IS NOT AN EXPRESSION OF ANY OPINION OF THE COURT AS TO THE FAIRNESS OF THE SETTLEMENT.
YOU ARE HEREBY NOTIFIED that a hearing will be held on April 14, 2021 at 10:00 a.m., before the Honorable Lewis A. Kaplan at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, to determine whether: (1) the proposed settlement (the “Settlement”) of the above-captioned Litigation as set forth in the Stipulation of Settlement (“Stipulation”)1 for $84,000,000.00 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 Counsel attorneys’ fees and costs, charges and expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action (“Notice”), which is discussed below) and, if so, in what amount; (4) to pay Lead Plaintiff out of the Settlement Fund for its costs and expenses in representing the Classes and, if so, in what amount; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable and adequate.
The recent outbreak of the Coronavirus (COVID-19) is a fluid situation that creates the possibility that the Court may decide to conduct the Settlement Fairness Hearing by video or telephone conference, or otherwise allow Members of the Classes to appear at the hearing by phone, without further written notice to the Classes. In order to determine whether the date and time of the Settlement Fairness Hearing have changed, or whether Members of the Classes must or may participate by phone or video, it is important that you monitor the Court’s docket and the Settlement website, www.MetLifeSecuritiesLitigation.com, before making any plans to attend the Settlement Fairness Hearing. Any updates regarding the Settlement Fairness Hearing, including any changes to the date or time of the hearing or updates regarding in-person or telephonic appearances at the hearing, will be posted to the Settlement website, www.MetLifeSecuritiesLitigation.com. Also, if the Court requires or allows Members of the Classes to participate in the Settlement Fairness Hearing by telephone, the phone number for accessing the telephonic conference will be posted to the Settlement website, www.MetLifeSecuritiesLitigation.com.
IF YOU PURCHASED OR ACQUIRED METLIFE COMMON STOCK IN THE AUGUST 3, 2010 OFFERING, THE MARCH 4, 2011 OFFERING OR BETWEEN FEBRUARY 9, 2011 AND OCTOBER 6, 2011, INCLUSIVE, YOUR RIGHTS WILL 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 by mail (postmarked no later than February 26, 2021) or electronically (no later than February 26, 2021). Your failure to submit your Proof of Claim and Release by February 26, 2021, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Litigation. If you are a Member of one or both of the Classes and did not timely and validly request exclusion therefrom in accordance with the requirements set forth by the Court in connection with the Notice of Pendency of Class Action, 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 and Release.
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 and Release, you may obtain these documents, as well as a copy of the Stipulation and other Settlement documents, online at www.MetLifeSecuritiesLitigation.com, or by writing to:
MetLife Securities Litigation
Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 43310
Providence, RI 02940-3310
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 and Release, may be made to a representative of Lead Counsel:
ROBBINS GELLER RUDMAN & DOWD LLP
Rick Nelson
c/o Shareholder Relations
655 West Broadway, Suite 1900
San Diego, CA 92101
Telephone: 800-449-4900
IF YOU ARE A MEMBER OF ONE OR BOTH OF THE CLASSES, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY LEAD COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES AND EXPENSES AND/OR THE AWARDS TO LEAD PLAINTIFF PURSUANT TO 15 U.S.C. §77z-1(a)(4) and/or 15 U.S.C. §78u-4(a)(4) IN CONNECTION WITH ITS REPRESENTATION OF THE CLASSES. ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL AND METLIFE’S COUNSEL BY FEBRUARY 26, 2021, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.
DATED: November 24, 2020 BY ORDER OF THE
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
_______________________
1 The Stipulation can be viewed and/or obtained at www.MetLifeSecuritiesLitigation.com. Capitalized terms not otherwise defined herein have the meaning given to them in the Stipulation.