WILMINGTON, Del., April 21, 2017 /PRNewswire/ --
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE
SAN ANTONIO FIRE AND POLICE
PENSION FUND, FIRE AND POLICE
HEALTH CARE FUND, SAN ANTONIO,
PROXIMA CAPITAL MASTER FUND LTD.,
and THE ARBITRAGE FUND,
DOLE FOOD COMPANY, INC., DAVID H.
MURDOCK and C. MICHAEL CARTER,
Civil Action No. 1:15-cv-1140-SLR
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES
AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities who sold the common stock of Dole Food Company, Inc. ("Dole") (i) during the period from January 2, 2013 through October 31, 2013, or (ii) on November 1, 2013 where those shares were sold on the open market and were not held as of the closing of the Take-Private Transaction on that date, and who were damaged thereby (the "Settlement Class"):
PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS WILL BE
AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of Delaware, that the above-captioned litigation (the "Action") has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class, by definition, as set forth in the full printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed settlement of the Action for $74,000,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on July 18, 2017 at 11:00 a.m., before the Honorable Sue L. Robinson at the United States District Court for the District of Delaware, J. Caleb Boggs Federal Building, 844 N. King Street, Courtroom 4B, Wilmington, Delaware 19801-3568, to determine whether (i) the proposed Settlement should be approved as fair, reasonable and adequate; (ii) the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Amended Stipulation and Agreement of Settlement dated March 29, 2017 (and in the Notice) should be granted; (iii) the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at San Antonio Fire & Police Pension Fund v. Dole Food Company, Inc., c/o JND Class Action Administration, P.O. Box 6428, Broomfield, CO 80021, 1-844-730-4155. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.DoleSecuritiesLitigation.com.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than August 9, 2017. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than June 27, 2017, in accordance with the instructions set forth 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.
Any objections to the proposed Settlement, the proposed Plan of Allocation or Lead Counsel's motion for attorneys' fees and reimbursement of expenses must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than June 27, 2017, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Dole, the other Defendants or their counsel regarding this notice. All questions about this notice, the proposed Settlement or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
Katherine M. Sinderson, Esq.
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
1251 Avenue of the Americas, 44th Floor
New York, NY 10020
Vincent R. Cappucci, Esq.
ENTWISTLE & CAPPUCCI LLP
299 Park Avenue, 20th Floor
New York, NY 10171
Requests for the Notice and Claim Form should be made to:
San Antonio Fire & Police Pension Fund v. Dole Food Company, Inc.,
c/o JND Class Action Administration
P.O. Box 6428
Broomfield, CO 80021
By Order of the Court
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bernstein-litowitz-berger--grossmann-llp-and-entwistle--cappucci-llp-announce-proposed-settlement-of-class-action-lawsuit-involving-sellers-of-dole-food-company-inc-common-stock-300439676.html
SOURCE Bernstein Litowitz Berger & Grossmann LLP