Freedman Normand Friedland Announces Settlement in Securities Class Action Against Sequential Brands Group
The law firm Freedman Normand Friedland LLP has filed a Summary Notice regarding the proposed settlement of a pending securities class action lawsuit involving Sequential Brands Group, Inc. This lawsuit is a result of allegations that the company and certain defendants failed to disclose significant adverse information about its financial status between November 9, 2016, and December 11, 2020.
The class action aims to represent all individuals and entities who purchased or acquired securities of Sequential during the stipulated period. Investors claim that the defendants misled them regarding adverse facts related to the company’s operations and financial performance. The lawsuit particularly emphasizes failures to disclose pertinent information that would have influenced investor decisions, thereby violating federal securities laws.
In terms of resolution, the defendants have agreed to deposit $9,750,000 in a settlement fund, which is intended to compensate the affected investors. This amount will be placed into an interest-bearing escrow account, ensuring that it grows until it is disbursed to eligible class members. The fund will be allocated after deducting legal fees, settlement administrative costs, and applicable taxes. Investors who believe they qualify must submit a valid Proof of Claim before the deadline.
To be eligible for a payment, you must complete and submit a Proof of Claim by March 11, 2025. This form can be obtained from the official settlement website, along with detailed instructions on how to fill it out properly. As part of the claims process, individuals must ensure they provide all necessary documents by the aforementioned date.
Investors also have options to exclude themselves from the settlement if they wish to maintain the right to pursue additional claims against the defendants. For those who want to object to any part of the settlement, a written objection must be filed by February 4, 2025.
The settlement hearing by the court is scheduled for February 25, 2025, where they'll review the fairness and adequacy of the proposed settlement. During this hearing, they will also consider the distribution of settlement proceeds and requests for attorneys' fees and expenses. Investors who submitted objections may request to speak at this hearing.
This case showcases a critical aspect of investor rights and the importance of maintaining transparency within financial markets. As individuals who participated in the company’s securities, it’s essential to stay informed about the developments in this lawsuit and any potential claims that could arise from the ongoing proceedings. For further information, affected parties can contact the settlement administration hotline or visit the website dedicated to this case for updates and instructions.
This case serves to underscore the complexities of securities law and the continuous safeguarding of investor interests. The settlement not only aims to provide financial restitution but also promotes awareness regarding corporate governance and investor rights, further ensuring that issues of misrepresentation are addressed transparently. As the court date approaches, all parties involved remain focused on achieving a resolution that upholds the integrity of the market and offers accountability for any oversights by Sequential Brands Group and its executives.
The class action aims to represent all individuals and entities who purchased or acquired securities of Sequential during the stipulated period. Investors claim that the defendants misled them regarding adverse facts related to the company’s operations and financial performance. The lawsuit particularly emphasizes failures to disclose pertinent information that would have influenced investor decisions, thereby violating federal securities laws.
In terms of resolution, the defendants have agreed to deposit $9,750,000 in a settlement fund, which is intended to compensate the affected investors. This amount will be placed into an interest-bearing escrow account, ensuring that it grows until it is disbursed to eligible class members. The fund will be allocated after deducting legal fees, settlement administrative costs, and applicable taxes. Investors who believe they qualify must submit a valid Proof of Claim before the deadline.
To be eligible for a payment, you must complete and submit a Proof of Claim by March 11, 2025. This form can be obtained from the official settlement website, along with detailed instructions on how to fill it out properly. As part of the claims process, individuals must ensure they provide all necessary documents by the aforementioned date.
Investors also have options to exclude themselves from the settlement if they wish to maintain the right to pursue additional claims against the defendants. For those who want to object to any part of the settlement, a written objection must be filed by February 4, 2025.
The settlement hearing by the court is scheduled for February 25, 2025, where they'll review the fairness and adequacy of the proposed settlement. During this hearing, they will also consider the distribution of settlement proceeds and requests for attorneys' fees and expenses. Investors who submitted objections may request to speak at this hearing.
This case showcases a critical aspect of investor rights and the importance of maintaining transparency within financial markets. As individuals who participated in the company’s securities, it’s essential to stay informed about the developments in this lawsuit and any potential claims that could arise from the ongoing proceedings. For further information, affected parties can contact the settlement administration hotline or visit the website dedicated to this case for updates and instructions.
This case serves to underscore the complexities of securities law and the continuous safeguarding of investor interests. The settlement not only aims to provide financial restitution but also promotes awareness regarding corporate governance and investor rights, further ensuring that issues of misrepresentation are addressed transparently. As the court date approaches, all parties involved remain focused on achieving a resolution that upholds the integrity of the market and offers accountability for any oversights by Sequential Brands Group and its executives.
Topics Financial Services & Investing）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.