Robbins Geller Rudman & Dowd LLP, Cotchett, Pitre & McCarthy, LLP and Scott+Scott Attorneys at Law LLP Announce Proposed Settlement of Class Action Involving Micro Focus International American Depositary Shares or American Depositary Receipts
REDWOOD CITY, Calif.--(BUSINESS WIRE)--The following Proposed Settlement of Class Action involving acquirers of Micro Focus International Acquired American Depositary Shares or American Depositary Receipts is being issued by Robbins Geller Rudman & Dowd LLP, Cotchett, Pitre & McCarthy, LLP and Scott+Scott Attorneys at Law LLP: SUPERIOR COURT OF THE STATE OF CALIFORNIA COUNTY OF SAN MATEO ) Lead Case No. 18CIV01549 In re MICRO FOCUS INTERNATIONAL ) PLC SECURITIES LITIGATION ) CLASS ACTION ) SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION Assigned for All Purposes to: Hon. Marie S. Weiner, Dept. 2 Date Action Filed: 03/28/18 TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR ACQUIRED AMERICAN DEPOSITARY SHARES (“ADSs”) OR AMERICAN DEPOSITARY RECEIPTS “(ADRs”) OF MICRO FOCUS INTERNATIONAL plc (“MICRO FOCUS” OR “COMPANY”), OR RIGHTS TO RECEIVE SUCH ADSs OR ADRs, (A) DURING THE PERIOD BETWEEN SEPTEMBER 1, 2017 AND AUGUST 28, 2019, INCLUSIVE (“SETTLEMENT CLASS PERIOD”), OR (B) PURSUANT OR TRACEABLE TO THE REGISTRATION STATEMENTS ON FORMS F-4 AND F-6 AND PROSPECTUS ISSUED IN CONNECTION WITH THE MERGER OF MICRO FOCUS AND THE SOFTWARE BUSINESS UNIT OF HEWLETT PACKARD ENTERPRISE COMPANY (“HPE”) (OR THEIR SUBSIDIARIES) (“MERGER”), AND WHO ARE NOT OTHERWISE EXCLUDED THEREFROM (“SETTLEMENT CLASS” OR “SETTLEMENT 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 July 25, 2023, at 2:00 p.m., before the Honorable Marie S. Weiner at the Superior Court of California, County of San Mateo, Department 2, Courtroom 2E, 400 County Center, Redwood City, CA 94063, 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 $107,500,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) the Final Judgment as provided under the Stipulation should be entered; (3) to award Plaintiffs’ Counsel attorneys’ fees and expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action (“Notice”), which is discussed below); (4) to grant awards to Plaintiffs and the Federal Plaintiff out of the Settlement Fund for their efforts in representing the Settlement Class; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable and adequate. This Action is a consolidated securities class action, brought on behalf of those Persons who purchased or acquired Micro Focus ADSs/ADRs during the period from September 1, 2017 through August 28, 2019, inclusive, or pursuant or traceable to the Registration Statements and Prospectus on Forms F-4 and F-6 issued in connection with the Merger (collectively, the “Materials”), against Micro Focus, HPE, and certain of their Officers and/or directors (collectively, “Defendants”) for allegedly misstating and/or omitting material facts from the Materials. Plaintiffs allege that these purportedly false and misleading statements inflated the price of the ADSs/ADRs, resulting in damage to Settlement Class Members. Defendants have denied, and continue to deny, all of Plaintiffs’ allegations and claims – including the allegation that any material facts were misstated in or omitted from the Materials – as well as any and all assertions of wrongdoing or liability of any kind. Defendants deny that they have violated any aspects of the securities laws of the United States, and there has been no finding of liability or wrongdoing by, on the part of, or against, any Defendant. IF YOU PURCHASED OR ACQUIRED MICRO FOCUS ADSs OR ADRs BETWEEN SEPTEMBER 1, 2017 THROUGH AND INCLUDING AUGUST 28, 2019, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION. 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 June 30, 2023) or electronically (no later than June 30, 2023). Your failure to submit your Proof of Claim by June 30, 2023, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Action. If you are a member of the Settlement Class and do not request exclusion therefrom, you will be bound by the Settlement and any judgment and release entered in the Action, including, but not limited to, the Final 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 form, 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.MicroFocusClassAction.com or by contacting the Claims Administrator: Micro Focus Securities Litigation Settlement c/o Epiq Class Action and Claims Solutions P.O. Box 5459 Portland, OR 97228-5459 Telephone: 855/604-1743 Email: info@microfocusclassaction.com 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 form, may be made to the following representatives of Plaintiffs’ Counsel: ROBBINS GELLER RUDMAN & DOWD LLP Joseph Russello 58 South Service Road, Suite 200 Melville, NY 11747 Telephone: 631/367-7100 COTCHETT, PITRE & McCARTHY, LLP Mark C. Molumphy 840 Malcolm Road, Suite 200 Burlingame, CA 94010 Telephone: 650/697-6000 IF YOU DESIRE TO BE EXCLUDED FROM THE SETTLEMENT CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION POSTMARKED BY JUNE 30, 2023, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. ALL MEMBERS OF THE SETTLEMENT CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE SETTLEMENT CLASS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A TIMELY PROOF OF CLAIM. IF YOU PREVIOUSLY REQUESTED EXCLUSION FROM THE CERTIFIED CLASS LAST YEAR, YOU DO NOT NEED TO DO SO AGAIN. IF YOU ARE A SETTLEMENT CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFFS’ COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES AND EXPENSES, AND/OR THE REQUEST FOR AN AWARD TO PLAINTIFFS AND/OR THE FEDERAL PLAINTIFF FOR THEIR EFFORTS IN REPRESENTING THE SETTLEMENT CLASS. ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO PLAINTIFFS’ COUNSEL AND DEFENDANTS’ COUNSEL BY JUNE 30, 2023, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. DATED: May 16, 2023 HONORABLE MARIE S. WEINER SUPERIOR COURT JUDGE FOR THE STATE OF CALIFORNIA, COUNTY OF SAN MATEO 1 The Stipulation can be viewed and/or obtained at www.MicroFocusClassAction.com. Capitalized terms not defined herein are defined in the Stipulation.
May 18, 2023 | www.businesswire.com
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