お知らせ • Sep 08
Scott+Scott Attorneys At Law Llp, Levi & Korsinsky, Llp, and Wolf Popper LLP Issue Summary Notice of Proposes Settlement of Class Action
Scott+Scott Attorneys at Law LLP, Levi & Korsinsky, LLP, and Wolf Popper LLP Issue Summary Notice of Proposed Settlement of Class Action. Jeff Kirkland, Anthony Fiore, And Employees' Retirement System Of The Puerto Rico Electric Power Authority, Individually and on behalf of all others similarly situated (Plaintiffs) against WideOpenWest, Inc., STEVEN COCHRAN, RICHARD E. FISH, JR., DAVID FREDERICK BURGSTAHLER, BRIAN CASSIDY, DANIEL KILPATRICK, JEFFREY MARCUS, PHIL SESKIN, JOSHUA TAMAROFF, Avista Capital Partners, UBS Securities LLC, Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC, SUNTRUST ROBINSON HUMPHREY, INC., Evercore Group L.L.C., Macquarie Capital (USA) Inc., LionTree Advisors, LLC, and Raymond James & Associates, Inc. (Defendants). The company notified that a hearing will be held on January 20, 2022, at 2:15 p.m., before the Honorable Andrea Masley, J.S.C., Supreme Court of New York, County of New York: Commercial Division, 60 Centre Street, New York, NY 10007, to determine whether: (1) the proposed Settlement of the above-captioned action (the "Litigation"), as set forth in the Stipulation of Settlement (‘Stipulation’), for $7,025,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment, as provided under the Stipulation, should be entered; (3) to grant final certification of a Settlement Class for purposes of the Settlement; (4) to award Plaintiffs' Counsel attorneys' fees and expenses out of the Settlement Fund, and, if so, in what amount; (5) to award Lead Plaintiff Awards out of the Settlement Fund for Lead Plaintiffs' service on behalf of the Settlement Class or for Lead Plaintiffs' reasonable time, costs, and expenses directly relating to the representation of the Settlement Class, and if so, in what amount; and (6) the Plan of Allocation should be approved by the Court. The Court may adjourn or continue the Settlement Hearing or hold the Settlement Hearing by telephonic or video conference without further notice to members of the Settlement Class. The Litigation is a consolidated securities class action against WOW, certain of its officers and directors, two private equity firms, and the underwriters for WOW's May 2017 IPO (collectively, "Defendants") for making allegedly untrue statements of material fact in the Registration Statement and Prospectus, filed with the U.S. Securities & Exchange Commission in connection with WOW's IPO (the ‘Offering Materials’), or omitting to state material facts required to be stated therein or necessary to make the statements therein not misleading. The Settlement was reached on behalf of all Persons who purchased or otherwise acquired publicly listed or publicly traded shares of WOW common stock pursuant or traceable to the Offering Materials issued in connection with WOW's IPO and were damaged thereby (the ‘Settlement Class’). If anyone purchased or otherwise acquired wow common stock (ticker symbol: ‘wow’) pursuant or traceable to the offering materials issued in connection with wow's ipo, their rights may be affected by the settlement of the litigation. To share in the distribution of the Settlement Fund, they must establish their rights by submitting a Proof of Claim and Release form so that it is postmarked (for U.S. Mail) or received by the private carrier (for FedEx, UPS, etc.) no later than December 30, 2021. Their failure to submit their Proof of Claim and Release by December 30, 2021, will subject their claim to rejection and preclude they receiving any of the recovery in connection with the Settlement of the Litigation. If anyone is a Settlement Class Member and do not submit a Request for Exclusion from the Settlement, they will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment and the full and final release of all Released Claims as against the Released Defendant Parties, whether or not they submit a Proof of Claim and Release.