The Rosen Law Firm, P.A. and Levi & Korsinsky Announce Proposed Class Action Settlement on Behalf of Purchasers of the Sundial Growers Inc. Common Stock – SNDL
NEW YORK, July 18, 2022 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. and Levi & Korsinsky announce that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers Sundial Growers Inc. common stock (NASDAQ: SNDL):*SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT*
*TO:* *ALL PERSONS WHO PURCHASED OR ACQUIRED SUNDIAL GROWERS INC. (NASDAQ: SNDL) **COMMON STOCK IN OR PURSUANT AND/OR TRACEABLE TO THE OFFERING DOCUMENTS ISSUED IN CONNECTION WITH SUNDIAL’S INITIAL PUBLIC STOCK OFFERING, WHICH OCCURRED ON OR ABOUT AUGUST 1, 2019*:^*1*
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 October 12, 2022, at 12:00 p.m. before the Honorable Andrew L. Carter, Jr., United States District Judge of the Southern District of New York, Thurgood Marshall U.S. Courthouse, 40 Foley Square, Courtroom 1306, New York, NY 10007 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for $7,000,000.00 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys’ fees of up to 33 ⅓% plus interest of the Settlement Amount, reimbursement of expenses of not more than $125,000, and an Award to Plaintiffs of no more than $20,000 in total, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated December 2, 2021 (the “Settlement Stipulation”). The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means.If you purchased or otherwise acquired Sundial Growers Inc. (“Sundial” or the “Company”) common stock in or pursuant and/or traceable to the offering documents issued in connection with Sundial’s initial public stock offering, which occurred on or about August 1, 2019, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Sundial 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 or calling the Claims Administrator: Sundial Growers Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 205, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; info@strategicclaims.net. You can also download copies of the Notice and submit your Proof of Claim and Release Form online at www.strategicclaims.net/sundial/. 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 to the Claims Administrator, either electronically no later than 11:59 p.m. EDT on October 5, 2022 or by first class mail postmarked no later than October 5, 2022, 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.
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^1 All capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Settlement Stipulation.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 September 21, 2022, 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 any judgment entered in the Action pursuant to the Settlement Stipulation.Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and Award to Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than September 21, 2022, and must be mailed to each of the following:
Clerk of the Court
United States District Court
Southern District of New York
Daniel Patrick Moynihan U.S. Courthouse
500 Pearl Street
New York, NY 10007 LEAD COUNSEL:
THE ROSEN LAW FIRM, P.A.
Jacob A. Goldberg
Leah Heifetz-Li
101 Greenwood Avenue
Suite 440
Jenkintown, PA 19046
LEVI & KORSINSKY
Adam Apton
Nicholas I. Porritt
Max Weiss
55 Broadway
10^th Floor
New York, NY 10006
COUNSEL FOR DEFENDANTS
Counsel for Defendants Sundial Growers Inc., Torsten Kuenzlen, James Keough, Edward Hellard, Greg Mills, Gregory Turnbull, Lee Tamkee, and Elizabeth Cannon
SHEARMAN & STERLING LLP
Adam S. Hakki
Jeffrey D. Hoschander
599 Lexington Avenue
New York, New York 10022 Counsel for Defendants Cowen and Company, LLC, BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Barclays Capital Canada Inc., CIBC World Markets Inc. and Scotia Capital Inc.
GOODWIN PROCTER LLP
Caroline Bullerjahn
100 Northern Avenue
Boston, Massachusetts 02210
If you have any questions about the Settlement, you may call or write to Lead Counsel:
THE ROSEN LAW FIRM, P.A.
Jacob A. Goldberg
101 Greenwood Avenue, Suite 440
Jenkintown, PA 19046
Tel: (215) 600-2817
jgoldberg@rosenlegal.com
*PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.*
Dated: June 23, 2022 BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK