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|1.||WHAT IS THIS CASE ABOUT?|
The Complaint alleges that beginning on April 19, 2012, and throughout the Settlement Class Period, EZCORP and certain of its senior executives violated provisions of the Securities Exchange Act of 1934 (the “Exchange Act”) by disseminating false and misleading press releases, financial statements, filings with the Securities and Exchange Commission (“SEC”) and statements during investor conference calls. The Complaint alleges that EZCORP and certain of its senior executives misrepresented significant facts concerning EZCORP’s business and operations, including that EZCORP and its Cash Genie business complied with all relevant regulations governing its businesses.
The Complaint alleges that in a series of disclosures, EZCORP revealed that Cash Genie had not complied with best practices, and admitted that its Cash Genie business appeared to have committed violations of consumer protection laws. EZCORP revealed a reorganization of its business, explaining that it was exiting its online businesses in both the United Kingdom and the United States, that these changes would result in approximately $110 million in goodwill impairments and other charges, and that it was lowering its guidance. The Complaint alleges that as a result of Defendants’ disclosures, the price of EZCORP Class A common stock declined dramatically, damaging the members of the Settlement Class.
Beginning on August 22, 2014, two class action complaints were filed in the United States District Court for the Southern District of New York (the “Court”), styled Close v. EZCORP, Inc., No. 14-cv-6834 (S.D.N.Y.) and Automotive Machinists Pension Plan v. EZCORP, Inc., No. 14-cv-8349 (S.D.N.Y.).
By Order dated November 17, 2014, the Court consolidated and recaptioned the cases as In re EZCORP, Inc. Securities Litigation, Master Docket No. 14-cv-6834 (the “Action”). By Order dated January 26, 2015, the Court appointed Automotive Machinists Pension Plan as the Lead Plaintiff, and approved of its selection of counsel, Bernstein Litowitz Berger & Grossmann LLP, as Lead Counsel for the Settlement Class.
On or about March 12, 2015, Lead Plaintiff filed the Consolidated Amended Class Action Complaint (the “Complaint”), asserting claims under Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder against Defendants EZCORP, Rothamel and Kuchenrither; and under Section 20(a) of the Exchange Act against Defendants Rothamel, Kuchenrither, Cohen, and MS Pawn. As described above, the Complaint alleges, among other things, that beginning on April 19, 2012, Defendants misrepresented and failed to disclose the true facts about EZCORP’s business, including the practices of EZCORP’s Cash Genie business.
On April 27, 2015, Defendants filed two motions to dismiss the Complaint, which Lead Plaintiff opposed on May 27, 2015. Defendants filed reply briefs on June 16, 2015. By Memorandum and Order dated March 31, 2016, the Court granted in part and denied in part Defendants’ motions to dismiss. The Court sustained claims related to misrepresentations regarding Cash Genie’s regulatory compliance, and sustained claims for control person liability.
On April 22, 2016, the Parties filed their Joint Rule 26(f) Report, setting forth, among other things, the respective Parties’ proposed pretrial schedules. Defendants filed their Answers to the Complaint on or about May 16, 2016.
Following an initial pretrial conference, Magistrate Judge Peck set forth certain deadlines related to discovery and class certification issues. On August 2, 2016, Magistrate Judge Peck approved of the Parties’ agreed-upon pretrial scheduling order, setting forth, among other deadlines, a class certification motion deadline of October 3, 2016; a fact discovery cut-off of May 1, 2017; and a trial date of December 11, 2017.
Pursuant to the pretrial schedule, on October 3, 2016, Lead Plaintiff filed a motion for class certification supported by, among other things, the Expert Report of Zachary Nye, Ph.D. of Stanford Consulting Group, Inc. Defendants filed an opposition on October 24, 2016, and Lead Plaintiff filed a reply on November 7, 2016, along with a supplemental declaration of Dr. Nye.
On November 18, 2016, Lead Counsel and certain counsel for Defendants participated in a full-day mediation session before Robert A. Meyer, Esq. of JAMS. In advance of that session, EZCORP and Lead Plaintiff exchanged and submitted to Mediator Meyer detailed mediation statements and exhibits that addressed the issues of both liability and damages. The session ended without any agreement being reached.
Over the course of the next week, Mediator Meyer conducted further discussions with the Parties which culminated in the Parties accepting a mediator’s proposal for $5.9 million. Lead Plaintiff informed the Court of the settlement in principle on or about November 29, 2016.
Lead Plaintiff conducted a thorough investigation in preparation for drafting the Complaint. In addition, the Parties were in the process of conducting substantial discovery when the Settlement was reached. By that time, the Parties had already exchanged initial disclosures and written document and interrogatory requests and responses, produced documents, and had taken two depositions. Based upon their investigation, prosecution and mediation of the case Lead Plaintiff and Lead Counsel have concluded that the terms and conditions of the Stipulation are fair, reasonable and adequate to Lead Plaintiff and the other Settlement Class Members, and in their best interests. Based on Lead Plaintiff’s oversight of the prosecution of this matter and with the advice of its counsel, Lead Plaintiff has agreed to settle and release the claims raised in the Action pursuant to the terms and provisions of the Stipulation, after considering (a) the substantial financial benefit that Lead Plaintiff and the other Settlement Class Members will receive under the proposed Settlement; (b) the significant risks of continued litigation and trial against Defendants; and (c) the desirability of permitting the Settlement to be consummated as provided by the terms of the Stipulation. As described in and subject to the terms of the Stipulation, the Stipulation shall in no event be construed or deemed to be evidence of or an admission or concession on the part of Lead Plaintiff or any of the other Plaintiffs’ Releasees of any infirmity in any of the claims asserted in the Action, or an admission or concession that any of the defenses to liability had any merit.
Defendants entered into the Stipulation solely to eliminate the uncertainty, burden and expense of further protracted litigation. Each of the Defendants denies any wrongdoing, and, as described in and subject to the terms of the Stipulation, the Stipulation shall in no event be construed or deemed to be evidence of or an admission or concession on the part of any of the Defendants with respect to any claim or allegation of any fault or liability or wrongdoing or damage whatsoever, or any infirmity in the defenses that the Defendants have, or could have, asserted. The Defendants expressly deny that Lead Plaintiff has asserted any valid claims as to any of them, and expressly deny any and all allegations of fault, liability, wrongdoing or damages whatsoever. Defendants also have denied and continue to deny, among other allegations, the allegations that the Lead Plaintiff or the Settlement Class have suffered any damage, that the prices of EZCORP publicly traded securities were artificially inflated by reasons of alleged misrepresentations, non-disclosures, or otherwise, or that the Lead Plaintiff or the Settlement Class were harmed by the conduct alleged in the Complaint. Defendants believe that the evidence developed to date supports their position that they acted properly at all times and that the Action is without merit. Nonetheless, Defendants have concluded that further conduct of the Action would be protracted and expensive, and that it is desirable that the Action be fully and finally settled in the manner and upon the terms and conditions set forth in the Stipulation. Defendants also have taken into account the uncertainty and risks inherent in any litigation, especially in complex cases such as the Action. Defendants have, therefore, determined that it is desirable and beneficial to them that the Action be settled in the manner and upon the terms and conditions set forth in the Stipulation.
On January 4, 2017, the Court preliminarily approved the Settlement, authorized the Notice to be disseminated to potential members of the Settlement Class, and scheduled the Settlement Hearing to consider whether to grant final approval to the Settlement. Pursuant to the Settlement Hearing on April 25, 2017, the Court granted final approval of the Settlement.
|2.||HOW DO I KNOW IF I AM AFFECTED BY THE SETTLEMENT? WHO IS INCLUDED IN THE SETTLEMENT CLASS?|
If you are a member of the Settlement Class, you are subject to the Settlement, unless you timely request to be excluded. The Settlement Class consists of all persons and entities who purchased or otherwise acquired Class A common stock issued by EZCORP between April 19, 2012, and October 6, 2014, inclusive, and were damaged thereby. Excluded from the Settlement Class are Defendants; the Officers and directors of the corporate Defendants during the Settlement Class Period (the “Excluded Officers and Directors”); members of the Immediate Families of the Individual Defendants and of the Excluded Officers and Directors; any entity in which any Defendant, any Excluded Officer or Director, or any of their respective Immediate Family members had during the Settlement Class Period and/or has a controlling interest; Defendants’ liability insurance carriers; any affiliates, parents, or subsidiaries of the corporate Defendants; all corporate Defendants’ plans that are covered by ERISA; and the legal representatives, heirs, agents, affiliates, successors-in-interest or assigns of any excluded person or entity, in their respective capacity as such. Also excluded from the Settlement Class are any persons and entities who exclude themselves by submitting a request for exclusion that is accepted by the Court. See “What if I Do Not Want To Be A Member Of The Settlement Class? How Do I Exclude Myself?”
PLEASE NOTE: RECEIPT OF THE NOTICE DOES NOT MEAN THAT YOU ARE A MEMBER OF THE SETTLEMENT CLASS OR THAT YOU WILL BE ENTITLED TO RECEIVE PROCEEDS FROM THE SETTLEMENT.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS AND YOU WISH TO BE POTENTIALLY ELIGIBLE TO PARTICIPATE IN THE DISTRIBUTION OF PROCEEDS FROM THE SETTLEMENT, YOU ARE REQUIRED TO SUBMIT THE CLAIM FORM THAT IS BEING DISTRIBUTED WITH THE NOTICE AND THE REQUIRED SUPPORTING DOCUMENTATION AS SET FORTH THEREIN POSTMARKED NO LATER THAN MAY 19, 2017.
|3.||WHAT ARE LEAD PLAINTIFF’S REASONS FOR THE SETTLEMENT?|
Lead Plaintiff and Lead Counsel believe that the claims they asserted in the Action have merit. They recognize, however, that the Court sustained only the claims related to misrepresentations regarding Cash Genie’s regulatory compliance, and for control person liability. They also recognize the expense and length of continued proceedings necessary to pursue the claims through trial and appeals, as well as the very substantial risks they would face in establishing liability and damages. In particular, Lead Plaintiff recognizes that Defendants argued in their motions to dismiss that the Complaint did not sufficiently allege that Defendants were aware of the problems at Cash Genie, and that Defendants genuinely believed that Cash Genie had put in place best practices that would comply with new U.K. regulations. Defendants also argued that because Cash Genie was an immaterial part of EZCORP’s overall business, the individual defendants and other top executives were not actively involved with Cash Genie or its operations. Rather, they allegedly relied on local management in the U.K., who retained operational control. Defendants would also dispute whether the alleged corrective disclosures impacted the price of EZCORP’s common stock. While the Court sustained the Complaint’s allegations at the pleading stage, Lead Plaintiff and Lead Counsel anticipated that Defendants would continue to make these arguments, including at the summary judgment stage and at trial.
Had any of these arguments been accepted in whole or part, it could have eliminated or, at minimum, dramatically limited any potential recovery. Further, Lead Plaintiff would have had to prevail at several stages – motions for class certification and summary judgment, trial, and if it prevailed on those, on the appeals that were likely to follow. Thus, there were very significant risks attendant to the continued prosecution of the Action.
In light of these risks, the amount of the Settlement and the immediacy of recovery to the Settlement Class, Lead Plaintiff and Lead Counsel believe that the proposed Settlement is fair, reasonable and adequate, and in the best interests of the Settlement Class. Lead Plaintiff and Lead Counsel believe that the Settlement provides a substantial benefit to the Settlement Class, namely $5.9 million in cash (less the various deductions described in the Notice), as compared to the risk that the claims in the Action would produce a smaller, or no recovery after motions, trial and appeals, possibly years in the future.
Defendants have denied the claims asserted against them in the Action and deny having engaged in any wrongdoing or violation of law of any kind whatsoever. As described above, Defendants have agreed to the Settlement solely to eliminate the uncertainty, burden and expense of continued litigation. Accordingly, the Settlement may not be construed as an admission of any wrongdoing by the Defendants.
Pursuant to the Settlement Hearing on April 25, 2017, the Court granted final approval of the Settlement.
|4.||WHAT MIGHT HAPPEN IF THERE WERE NO SETTLEMENT?|
If there were no Settlement and Lead Plaintiff failed to establish any essential legal or factual element of the claims, neither Lead Plaintiff nor the other Settlement Class Members would recover anything in this Action. Also, if Defendants were successful in establishing any of their defenses or arguments, either at class certification, summary judgment, at trial or on appeal, the Settlement Class could recover substantially less than the amount provided in the Settlement, or nothing at all.
Pursuant to the Settlement Hearing on April 25, 2017, the Court granted final approval of the Settlement.
|5.||HOW ARE SETTLEMENT CLASS MEMBERS AFFECTED BY THE ACTION AND THE SETTLEMENT?|
As a member of the Settlement Class, you are represented by Lead Plaintiff and Lead Counsel, unless you enter an appearance through counsel of your own choice at your own expense. You are not required to retain your own counsel, but if you choose to do so, such counsel must file a notice of appearance on your behalf and must serve copies of his or her appearance on the attorneys listed in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?”
If you are a member of the Settlement Class and do not wish to remain a member of the Settlement Class, you may exclude yourself from the Settlement Class by following the instructions in the section entitled, “What if I Do Not Want To Be A Member Of The Settlement Class? How Do I Exclude Myself?”
If you are a member of the Settlement Class and you wish to object to the Settlement, the Plan of Allocation, or Lead Counsel’s application for attorneys’ fees and reimbursement of Litigation Expenses, and if you do not exclude yourself from the Settlement Class, you may present your objections by following the instructions in the section entitled, “When And Where Will The Court Decide Whether To Approve The Settlement?”
If you are a member of the Settlement Class and you do not exclude yourself from the Settlement Class, you will be bound by any orders issued by the Court. If the Settlement is approved, the Court will enter a judgment (the “Judgment”). The Judgment will dismiss with prejudice the claims in the Action and will provide that, upon the Effective Date of the Settlement, Lead Plaintiff and each of the other Settlement Class Members (whether or not such person or entity submitted a Claim Form), on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns, in their capacities as such, shall be deemed to have, and by operation of law and of the Judgment shall have, fully, finally and forever compromised, settled, released, resolved, relinquished, waived and discharged each and every Released Plaintiffs’ Claim (as defined below, including, without limitation, any Unknown Claims) against the Defendants and the other Defendants’ Releasees (as defined below), and shall forever be barred and enjoined from prosecuting any or all of the Released Plaintiffs’ Claims against any of the Defendants’ Releasees.
“Released Plaintiffs’ Claims” means all claims and causes of action of every nature and description (including, but not limited to, any claims for damages, interest, attorneys’ fees, expert or consulting fees, and any other costs, expenses or liabilities whatsoever), whether known claims or Unknown Claims, whether arising under federal, state, local, common or foreign law, or any other law, rule, ordinance, administrative provision or regulation, that Lead Plaintiff or any other member of the Settlement Class: (i) asserted in the Complaint; or (ii) could have asserted in any forum that arise out of or are based upon the allegations, transactions, facts, matters or occurrences, representations or omissions involved, set forth, or referred to in the Complaint and that relate to the purchase or acquisition of common stock issued by EZCORP during the Settlement Class Period. Released Plaintiffs’ Claims do not include: (a) any claims relating to the enforcement of the Settlement; and (b) any Excluded Claims.
“Excluded Claims” means (i) claims asserted in In re EZCORP, Inc. Consulting Agreement Derivative Litig., Del. Ch. Ct., C.A. No. 9962-VCL; (ii) claims asserted in In re EZCORP, Inc. Sec. Litig., Master File No. 1:15-cv-00608 (W.D. Tex.); (iii) ERISA claims, if any; and (iv) claims of any person or entity who submits a request for exclusion that is accepted by the Court.
“Defendants’ Releasees” means Defendants and their current and former officers, directors, agents, parents, affiliates, subsidiaries, successors, predecessors, assigns, assignees, employees, insurers, reinsurers, and attorneys, in their capacities as such.
“Unknown Claims” means any Released Plaintiffs’ Claims which Lead Plaintiff or any other Settlement Class Member does not know or suspect to exist in his, her or its favor at the time of the release of such claims, and any Released Defendants’ Claims which any Defendant or any other Defendants’ Releasee does not know or suspect to exist in his, her, or its favor at the time of the release of such claims, which, if known by him, her or it, might have affected his, her or its decision(s) with respect to this Settlement. With respect to any and all Released Claims, the Parties stipulate and agree that, upon the Effective Date of the Settlement, Lead Plaintiff and Defendants shall expressly waive, and each of the other Settlement Class Members and each of the other Defendants’ Releasees shall be deemed to have waived, and by operation of the Judgment or the Alternate Judgment, if applicable, shall have expressly waived, any and all provisions, rights, and benefits conferred by any law of any state or territory of the United States, or principle of common law or foreign law, which is similar, comparable, or equivalent to California Civil Code §1542, which provides:
A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.
Lead Plaintiff and Defendants acknowledge, and each of the other Settlement Class Members and each of the other Defendants’ Releasees shall be deemed by operation of law to have acknowledged, that the foregoing waiver was separately bargained for and a key element of the Settlement.
The Judgment will also provide that, upon the Effective Date of the Settlement, Defendants, on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns, in their capacities as such, shall be deemed to have, and by operation of law and of the Judgment shall have, fully, finally and forever compromised, settled, released, resolved, relinquished, waived and discharged each and every Released Defendants’ Claim (as defined below, including, without limitation, any Unknown Claims) against Lead Plaintiff and the other Plaintiffs’ Releasees (as defined below), and shall forever be barred and enjoined from prosecuting any or all of the Released Defendants’ Claims against any of the Plaintiffs’ Releasees. This release shall not apply to any person or entity who submits a request for exclusion from the Settlement Class that is accepted by the Court.
“Released Defendants’ Claims” means all claims and causes of action of every nature and description (including, but not limited to, any claims for damages, interest, attorneys’ fees, expert or consulting fees, and any other costs, expenses or liabilities whatsoever), whether known claims or Unknown Claims, whether arising under federal, state, common or foreign law, or any other law, rule, ordinance, administrative provision or regulation, that arise out of or relate in any way to the institution, prosecution, or settlement of the claims asserted in the Action against the Defendants. Released Defendants’ Claims do not include any claims relating to the enforcement of the Settlement or any claims against any person or entity who or which submits a request for exclusion from the Settlement Class that is accepted by the Court.
“Plaintiffs’ Releasees” means Lead Plaintiff, all other plaintiffs in the Action, their respective attorneys, and all other Settlement Class Members, and their respective current and former officers, directors, agents, parents, affiliates, subsidiaries, successors, predecessors, assigns, assignees, employees, and attorneys, in their capacities as such.
|6.||HOW DO I PARTICIPATE IN THE SETTLEMENT? WHAT DO I NEED TO DO?|
To be potentially eligible for a payment from the proceeds of the Settlement, you must be a Settlement Class Member and you must timely complete and return the Claim Form with adequate supporting documentation postmarked no later than May 19, 2017. A Claim Form is included with the Notice, or you may obtain one from this website, or you may request that a Claim Form be mailed to you by calling the Claims Administrator toll free at (888) 320-8169. Please retain all records of your ownership of and transactions in EZCORP Class A common stock, as they may be needed to document your Claim. If you request exclusion from the Settlement Class or do not submit a timely and valid Claim Form, you will not be potentially eligible to share in the Net Settlement Fund.
|7.||HOW MUCH WILL MY PAYMENT BE?|
At this time, it is not possible to make any determination as to how much any particular Settlement Class Member may receive from the Settlement if he/she/it submits a valid Claim Form.
Pursuant to the Settlement, Defendants have agreed that EZCORP shall pay or cause to be paid, on behalf of Defendants, the Settlement Amount of five million nine hundred thousand dollars ($5,900,000.00) in cash. The Settlement Amount will be deposited into an escrow account. The Settlement Amount plus any interest earned thereon is referred to as the “Settlement Fund.” The “Net Settlement Fund” (that is, the Settlement Fund less (a) all federal, state and/or local taxes on any income earned by the Settlement Fund and the reasonable costs incurred in connection with determining the amount of and paying taxes owed by the Settlement Fund (including reasonable expenses of tax attorneys and accountants); (b) the costs and expenses incurred in connection with providing notice to Settlement Class Members and administering the Settlement; and (c) any attorneys’ fees and Litigation Expenses awarded by the Court) will be distributed to Settlement Class Members who submit valid Claim Forms, in accordance with the proposed Plan of Allocation or such other plan of allocation as the Court may approve.
The Net Settlement Fund will not be distributed unless and until the Court has approved the Settlement and a plan of allocation, and the time for any petition for rehearing, appeal or review, whether by certiorari or otherwise, has expired.
Neither the Defendants nor any other person or entity that paid any portion of the Settlement Amount on their behalf are entitled to get back any portion of the Settlement Fund once the Court’s order or judgment approving the Settlement becomes Final. The Defendants shall not have any liability, obligation or responsibility for the administration of the Settlement, the disbursement of the Net Settlement Fund or the Plan of Allocation.
Approval of the Settlement is independent from approval of a plan of allocation or an award of attorneys’ fees or reimbursement of Litigation Expenses. Any determination with respect to a plan of allocation, an award of attorneys’ fees, or reimbursement of Litigation Expenses will not affect the Settlement.
Unless the Court otherwise orders, any Settlement Class Member who fails to submit a Claim Form postmarked on or before May 19, 2017, shall be fully and forever barred from receiving payments pursuant to the Settlement but will in all other respects remain a Settlement Class Member and be subject to the provisions of the Stipulation, including the terms of any Judgment entered and the releases given. This means that each Settlement Class Member releases the Released Plaintiffs’ Claims (as defined above) against the Defendants’ Releasees (as defined above) and will be barred and enjoined from prosecuting any or all of the Released Plaintiffs’ Claims against any of the Defendants’ Releasees whether or not such Settlement Class Member submits a Claim Form.
The Court has reserved jurisdiction to allow, disallow, or adjust on equitable grounds the Claim of any Settlement Class Member.
Each Claimant shall be deemed to have submitted to the jurisdiction of the Court with respect to his, her or its Claim Form.
Only Settlement Class Members will be potentially eligible to share in the distribution of the Net Settlement Fund. Persons and entities that are excluded from the Settlement Class by definition or that exclude themselves from the Settlement Class pursuant to request will not be eligible to receive a distribution from the Net Settlement Fund and should not submit Claim Forms. The only security included in the Settlement is Class A common stock issued by EZCORP.
|8.||WHAT PAYMENT ARE THE ATTORNEYS FOR THE SETTLEMENT CLASS SEEKING? HOW WILL THE LAWYERS BE PAID?|
Lead Counsel to date has not received any payment for its services in pursuing claims against the Defendants on behalf of the Settlement Class, nor has Lead Counsel been reimbursed for any of its out-of-pocket expenses. Before final approval of the Settlement, Lead Counsel will apply to the Court for an award of attorneys’ fees in an amount not to exceed 25% of the Settlement Amount, plus interest at the same rate and for the same period as earned by the Settlement Fund. At the same time, Lead Counsel also intends to apply for reimbursement of Litigation Expenses in an amount not to exceed $400,000, which may include an application for reimbursement of the reasonable costs and expenses incurred by Lead Plaintiff directly related to its representation of the Settlement Class, plus interest at the same rate and for the same period as earned by the Settlement Amount. The Court will determine the amount of any award of attorneys’ fees or reimbursement of Litigation Expenses. Such sums as may be approved by the Court will be paid from the Settlement Fund. Settlement Class Members are not personally liable for any such fees or expenses.
|9.||WHAT IF I DO NOT WANT TO BE A MEMBER OF THE SETTLEMENT CLASS? HOW DO I EXCLUDE MYSELF?|
Each Settlement Class Member will be bound by all determinations and judgments in this lawsuit, whether favorable or unfavorable, unless such person or entity mails or delivers a written request for exclusion from the Settlement Class, addressed to EZCORP Securities Litigation, c/o GCG, P.O. Box 10354, Dublin, OH 43017-5554. The exclusion request must be received no later than April 4, 2017. You will not be able to exclude yourself from the Settlement Class after that date. Each request for exclusion must (i) state the name, address and telephone number of the person or entity requesting exclusion, and in the case of entities the name and telephone number of the appropriate contact person; (ii) state that such person or entity “requests exclusion from the Settlement Class in In re: EZCORP, Inc. Securities Litigation, Case No. 14-cv-6834”; (iii) state the number of shares of EZCORP Class A common stock that the person or entity requesting exclusion purchased/acquired and/or sold during the Settlement Class Period, as well as the dates and prices of each such purchase/acquisition and sale, and their opening position in EZCORP Class A common stock as of the opening of trading on April 19, 2012; and (iv) be signed by the person or entity requesting exclusion or an authorized representative. A request for exclusion shall not be effective unless it provides all the required information called for in this paragraph and is received within the time stated above, or is otherwise accepted by the Court.
If you do not want to be part of the Settlement Class, you must follow these instructions for exclusion even if you have pending, or later file, another lawsuit, arbitration, or other proceeding relating to any Released Plaintiffs’ Claim against any Defendant or any of the other Defendants’ Releasees.
If you ask to be excluded from the Settlement Class, and that request is accepted, you will not be eligible to receive any payment out of the Net Settlement Fund.
EZCORP has the option to terminate the Settlement if Settlement Class Members timely and validly requesting exclusion from the Settlement Class meet the conditions agreed to with Lead Plaintiff.
|10.||WHEN AND WHERE WILL THE COURT DECIDE WHETHER TO APPROVE THE SETTLEMENT? DO I HAVE TO COME TO THE HEARING? MAY I SPEAK AT THE HEARING IF I DON’T LIKE THE SETTLEMENT?|
Pursuant to the Settlement Hearing on April 25, 2017, the Court granted final approval of the Settlement.
|11.||WHAT IF I BOUGHT SHARES ON SOMEONE ELSE’S BEHALF?|
|12.||CAN I SEE THE COURT FILE? WHOM SHOULD I CONTACT IF I HAVE QUESTIONS?|
The Notice contains only a summary of the terms of the proposed Settlement. For more detailed information about the matters involved in this Action, you are referred to the papers on file in the Action, including the Stipulation, which may be inspected during regular office hours at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., New York, NY 10007-1312.
Additionally, copies of the Stipulation and any related orders entered by the Court will be posted on the Court Documents page of this website.
All inquiries concerning the Notice and the Claim Form should be directed to:
|EZCORP Securities Litigation c/o GCG P.O. Box 10354 Dublin, OH 43017-5554 (888) 320-8169||and/or||Bernstein Litowitz Berger & Grossmann LLP Timothy A. DeLange, Esq. Niki L. Mendoza, Esq. 12481 High Bluff Drive, Suite 300 San Diego, CA 92130 (866) 648-2524 email@example.com|
DO NOT CALL OR WRITE THE COURT, THE OFFICE OF THE CLERK OF THE COURT, THE DEFENDANTS OR THEIR COUNSEL REGARDING THE NOTICE.
April 4, 2017
April 4, 2017
(filed and received)
April 25, 2017
May 19, 2017
Claim Form Deadline