NEW YORK, Oct. 2, 2020 /PRNewswire/ -- To all persons
and entities who purchased or acquired American Renal Associates
Holdings, Inc. common stock between August
10, 2016 and March 27, 2019,
inclusive.
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE
AFFECTED BY A CLASS ACTION LAWSUIT.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the
District of New Jersey, that a
hearing is scheduled to be held on January
12, 2021, at 11:00 a.m. before
the Honorable Michael A. Hammer, United
States Magistrate Judge of the District of New Jersey, Martin Luther King Building &
U.S. Courthouse, 50 Walnut Street, Courtroom 5A, Newark, NJ 07101 for the purpose of
determining: (1) whether the proposed
Settlement1 of the claims in the above-referenced
Action for consideration including the sum of $5,775,000 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 not to exceed 30 percent plus interest of the
Settlement Amount, reimbursement of expenses of not more than
$100,000, and an Award to Plaintiff
of not more than $7,500.00, should be
approved; and (4) whether this Action should be fully and finally
dismissed with prejudice as set forth in the Stipulation.
Please Note: The date and time of the Settlement Hearing
may change and/or may be held by teleconference or videoconference,
without further written notice to the Class. You should monitor the
Court's docket and the website maintained by the Claims
Administrator, www.AmericanRenalSecuritiesLitigation.com, before
making plans to participate in the Settlement Hearing. You may also
confirm the date, time, and method of the Settlement Hearing by
contacting Class Counsel by phone at 212-279-5050 or by email at
info@aftlaw.com.
If you purchased or otherwise acquired American Renal
Associates Holdings, Inc. ("ARA") common stock between August 10, 2016 and March
27, 2019, inclusive, your rights may be affected by this
Settlement, including the full and final release and extinguishment
of claims you may possess relating to your purchase, sale and
ownership interest in ARA 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 form, you may obtain
copies by writing to American Renal Assoc. Securities Litigation,
ATTN: NOTICE REQUEST, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103, emailing to
info@AmericanRenalSecuritiesLitigation.com or calling (844)
559-0203, or by going to the website,
www.AmericanRenalSecuritiesLitigation.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
form postmarked no later than January 4, 2021,
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 December 8,
2020, in the manner and form explained in the
Notice. If you properly exclude yourself from the Settlement
Class, you will not be bound by any judgments or orders entered by
the Court in the Action and you will not be eligible to share in
the proceeds of the Settlement. 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 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 Plaintiff must be in the
manner and form explained in the detailed Notice and received no
later than December 22, 2020, by each
of the following:
Clerk of the Court
United States District Court
District of New Jersey
50 Walnut Street
Newark, NJ 07101
CLASS COUNSEL:
Mitchell M.Z.
Twersky
Abraham, Fruchter & Twersky, LLP
One Penn Plaza, Suite 2805
New York, NY 10119
COUNSEL FOR DEFENDANTS:
Jason C. Hegt
LATHAM & WATKINS LLP
885 Third Avenue
New York, New York 10022
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.AmericanRenalSecuritiesLitigation.com.
To learn more about Plaintiffs' Counsel, go to its website at
www.aftlaw.com.
PLEASE DO NOT CONTACT THE COURT REGARDING THIS
NOTICE.
By Order of the United
States District Court for the District of New Jersey
Media Contact:
Angeion Group
Douglas S. Clauson
Director, Communications
(215)–563-4116
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 June
25, 2020 (ECF No. 50-3) (the "Stipulation").
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SOURCE Abraham, Fruchter & Twersky, LLP
