NEW YORK, Sept. 26, 2022 /PRNewswire/ --
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
| In re Textron Inc. Securities Litigation | CASE NO.: 1:19-cv-7881-DC |
SUMMARY NOTICE OF (i) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (ii) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES; AND
(iii) SETTLEMENT FAIRNESS HEARING
| TO: | ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED TEXTRON INC. ("TEXTRON") COMMON STOCK ON THE NYSE OR OTHER U.S. EXCHANGES OR IN A U.S. TRANSACTION BETWEEN JANUARY 31, 2018 AND DECEMBER 6, 2018, INCLUSIVE (THE "SETTLEMENT CLASS"). |
| Certain persons and entities are excluded from the Settlement Class as set forth in the Stipulation and Agreement of Settlement dated June 23, 2022 ("Stipulation") and the Notice described below. | |
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 Southern District of New York, that the above-captioned action ("Action") has been provisionally certified as a class action for the purposes of settlement only and that the parties to the Action have reached a proposed settlement of the Action ("Settlement"). A hearing will be held on November 18, 2022 at 3:00 p.m. before the Honorable Denise Cote, United States District Judge, at the Southern District of New York, 500 Pearl St., Courtroom 18B, New York, NY 10007-1312, for the purpose of determining: a) whether the proposed Settlement of the claims alleged in the Action for Seven Million Nine Hundred Thousand Dollars ($7,900,000.00), is fair, reasonable, and adequate and should be approved by the Court; b) whether the Action should be dismissed with prejudice against the Defendants as set forth in the Stipulation; c) whether the Settlement Class should be certified for purposes of settlement; d) whether the proposed Plan of Allocation is fair and reasonable and should be approved by the Court; e) whether Lead Counsel's request for an award of attorneys' fees and reimbursement of Litigation Expenses should be approved by the Court; and f) any other relief the Court deems necessary to effectuate the terms of the Settlement.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS ACTION, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND.
If you have not received a detailed Notice of (i) Pendency of Class Action and Proposed Settlement; (ii) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses; and (iii) Settlement Fairness Hearing ("Notice") and Claim Form, you may obtain a copy by contacting the Claims Administrator by mail at Textron Securities Litigation c/o A.B. Data Ltd., P.O. Box 173042, Milwaukee, WI 53217, by email at info@TextronSecuritiesLitigation.com by telephone at 877-354-3791, or by the website at www.TextronSecuritiesLitigation.com . If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Claim Form by mail (postmarked no later than January 20, 2023), or electronically no later than January 20, 2023, establishing that you are entitled to recover. 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 releases, judgments or orders entered by the Court in the Action.
If you are a Settlement Class Member, you have the right to object to the Settlement, the Plan of Allocation, or the attorneys' fee and Litigation Expense applications, or otherwise request to be heard. To object, you must submit a written objection in accordance with the procedures described in the more detailed Notice, referred to above. Any written objection must be delivered to the following recipients so that it is received no later than October 28, 2022: (a) the Clerk's Office, United States District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007; and (b) Frederic S. Fox, Kaplan Fox & Kilsheimer LLP, 850 Third Avenue, 14th Floor, New York, NY 10022. Note that the Court can only approve or deny the Settlement, not change the terms of the Settlement.
If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is receivedno later than October 28, 2022, in accordance with the procedures described in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any releases, judgments or orders entered by the Court in the Action and you will not be eligible to share in the net proceeds of the Settlement. Excluding yourself is the only option that allows you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlement. Please note, however, if you decide to exclude yourself from the Settlement Class, you may be time-barred from asserting the claims covered by the Action by a statute of repose.
PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENDANTS OR THEIR COUNSEL REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed below:
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, NY 10022
(212) 687-1980
mail@kaplanfox.com
| Dated: September 26, 2022 | By Order of the Clerk of Court |
SOURCE Kaplan Fox & Kilsheimer LLP
ncG1vNJzZmilkae4psDSZ5muq5mjsrS%2FyKeqopyVp3uku8xopZ6vo2TAtbvCpKpoo5GluaK6jJ%2BmsWWbnrm0tMSipJ6qXaG5sXnAp6WorZ6Ysm6tjKmpqKifqLKlecKlmKyrXZawtbXOp2SsnaSpuaa5xKerZp6fp3qiuMtmp56qo6S7tHnAp5tmnZ6ptrW1xKxksKCfYr22vsKhmKydlGK8s3nOrZ%2BeqqeewKZ5wJyorqGimrFuwMSxq6unnmK2r6%2BMnKampZ%2BjerTAzpyiZpqVqcSmsc1moZqmpZa%2FunmSamRraGFteqK6w2abnpuVYn5xf5BwbW1wZ2c%3D