NEW YORK, Jan. 15, 2018 /PRNewswire/ -- The following statement is being issued by Abraham, Fruchter & Twersky, LLP regarding In re TerraForm Global, Inc. Securities Litigation.
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
IN RE: SUNEDISON, INC. SECURITIES LITIGATION
No. 1:16 MD 2742 (PKC) (RWL)
This Document Applies To:
In re TerraForm Global, Inc. Securities Litigation, No. 1:16-cv-07967-PKC
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED OR ACQUIRED TERRAFORM GLOBAL, INC. COMMON STOCK IN OR TRACEABLE TO THE INITIAL PUBLIC OFFERING
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on April 27, 2018, at 2:30 p.m. before the Honorable P. Kevin Castel, United States District Judge of the Southern District of New York, 500 Pearl Street, Courtroom 11D, New York, NY 10007 for the purpose of determining: (1) whether the proposed Settlement1 of the claims in the above-captioned Action for consideration including the sum of $57,000,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Net Settlement Fund (the "Plan of Allocation") is fair, reasonable and adequate and therefore should be approved; (3) whether the application of Plaintiffs' Counsel for an award of attorneys' fees of up to 25 percent plus interest of the Settlement Amount, reimbursement of expenses of not more than $350,000, and an Award to Plaintiffs of no more than $15,000, in aggregate, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Settlement Stipulation dated December 14, 2017.
If you purchased or otherwise acquired TerraForm Global, Inc. ("Global") common stock in or traceable to Global's initial public offering, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Global common stock. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to In re TerraForm Global, Inc. Securities Litigation, c/o GCG, P.O. Box 10539, Dublin, Ohio 43017-4539 or calling (888) 684-5070, or by going to the website, www.TerraFormGlobalLitigationSettlement.com. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form postmarked no later than April 13, 2018, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.
If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than March 27, 2018, in the manner and form explained in the Notice. All members of the Settlement Class who have not validly requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.
Any objection to the Settlement, Plan of Allocation, or Plaintiffs' Counsel's request for an award of attorneys' fees and reimbursement of expenses and an Award to Plaintiffs must be in the manner and form explained in the detailed Notice and filed and served no later than March 30, 2018, to each of the following:
Clerk of the Court
United States District Court
Southern District of New York
500 Pearl Street
New York, NY 10007
CLASS COUNSEL:
Jack G. Fruchter
ABRAHAM, FRUCHTER & TWERSKY, LLP
One Penn Plaza, Suite 2805
New York, NY 10119
COUNSEL FOR DEFENDANTS:
Michael G. Bongiorno, Esq.
WILMER CUTLER PICKERING HALE AND DORR LLP
7 World Trade Center
250 Greenwich Street
New York, NY 10007
Sara B. Brody
SIDLEY AUSTIN LLP
555 California Street, Suite 2000
San Francisco, CA 94104
Adam S. Hakki
SHEARMAN & STERLING LLP
599 Lexington Avenue
New York, NY 10022-6069
Kevin J. O'Connor
HINCKLEY ALLEN & SNYDER LLP
28 State Street
Boston, MA 02109
If you have any questions about the Settlement, you may contact the Claims Administrator or Plaintiffs' Counsel at the addresses listed above or go to the website at www.TerraFormGlobalLitigationSettlement.com.
1 All capitalized terms not otherwise defined herein have the same meaning as in the Stipulation and Agreement of Settlement filed with the Court on December 15, 2017 (Dkt. No. 265) (the "Settlement Stipulation").
View original content:http://www.prnewswire.com/news-releases/abraham-fruchter--twersky-llp-announces-proposed-settlement-in-in-re-terraform-global-securities-litigation-300582040.html
SOURCE Abraham, Fruchter & Twersky, LLP
