The United States District Court for the District of Utah issued an Order Granting Lead Plaintiff’s Unopposed Motion for Distribution of Net Settlement Fund. To view a copy of the Order, click here. Pursuant to the Order, the Initial Distribution occurred on February 24, 2020.
IF YOU PURCHASED OR ACQUIRED SECURITIES OF VISTA OUTDOOR INC. (“VISTA” OR THE “COMPANY”) DURING THE PERIOD FROM AUGUST 11, 2016 TO NOVEMBER 9, 2017, INCLUSIVE (“THE CLASS PERIOD”), YOU MAY BE ENTITLED TO SHARE IN THE PROCEEDS OF THE CLASS ACTION SETTLEMENT.
To claim your share of this Fund, you MUST submit a valid Proof of Claim and Release Form (“Proof of Claim”) postmarked or submitted online on or before November 26, 2018.
Court-appointed Lead Plaintiff, The New York Hotel Trades Council and Hotel Association of New York City, Inc. Pension Fund (“Lead Plaintiff”), has reached a proposed settlement in the amount of $6,250,000 in cash (the “Settlement”) on behalf of the proposed Settlement Class. Cash payments will be made if the Court approves the Settlement and after any appeals are resolved.
The Notice relates to a proposed Settlement of claims in a pending securities class action lawsuit brought by investors alleging, among other things, that Defendants violated the federal securities law by allegedly failing to make required disclosures to investors regarding a January 2017 and November 2017 write-off of recorded goodwill in Vista’s Outdoor Product segment. The proposed Settlement, if approved by the Court, will settle claims of all persons and entities who purchased or otherwise acquired Vista securities during the Class Period.
Subject to Court approval, Lead Plaintiff, on behalf of the proposed Class, has agreed to settle all claims in the Action in exchange for a cash payment of $6,250,000 (the “Settlement Amount”). The Net Settlement Fund (the Settlement Fund less court-awarded attorneys’ fees and expenses, Notice and Administration Expenses, any required Taxes or Tax Expenses payments, and any other fees or expenses approved by the Court) will be distributed in accordance with a plan of allocation (the “Plan of Allocation”) that will be approved by the Court and will determine how the Net Settlement Fund shall be allocated to the Members of the Class. The proposed Plan of Allocation is included in the Notice (see pages 9-11).
Excluded from the Class are Individual Defendants, any person who was an officer, director, or managing agent of Vista or any of its subsidiaries or affiliates at any point during the Class Period, members of the immediate family of any of the foregoing individuals, any affiliate of Vista, any entity in which the Defendants have or had a controlling interest, and the legal representatives, heirs, predecessors, successors or assigns of any such excluded party.
Lead Plaintiff and the Class are being represented by the Court-appointed Lead Counsel:
|Gregory M. Nespole Wolf Haldenstein Adler Freeman & Herz LLP 270 Madison Avenue New York, New York 10016 Telephone: 212-545-4600||Betsy C. Manifold Wolf Haldenstein Adler Freeman & Herz LLP 750 B Street, Suite 2770 San Diego, CA 92101 Telephone: 619-239-4599|
Your legal rights will be affected whether you act or do not act. If you do not act, you may permanently forfeit your right to recover on this claim. Therefore, you should read the Notice carefully and in its entirety.
|YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT:|
|SUBMIT A PROOF OF CLAIM FORM POSTMARKED OR SUBMITTED ONLINE NO LATER THAN November 26, 2018||This is the only way to get a cash payment from the Settlement.|
|EXCLUDE YOURSELF FROM THE CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION POSTMARKED NO LATER THAN October 10, 2018||Get no payment. This is the only option that allows you to ever be part of any other lawsuit against the Defendants concerning the claims that were, or could have been, asserted in this case. It is also the only way for Class Members to remove themselves from the Class. If you are considering excluding yourself from the Class, please note that there is a risk that any new claims asserted against the Defendants may no longer be timely and would be time-barred. You should talk to a lawyer before you request exclusion from the Class for the purpose of bringing a separate lawsuit.|
|OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION POSTMARKED NO LATER THAN October 10, 2018.||Write to the Court and explain why you do not like the Settlement, the proposed Plan of Allocation, and/or the request for attorneys’ fees and expenses. In order to object, you must remain a Member of the Class, may not exclude yourself, and you will be bound by the Court’s determinations.|
|GO TO THE HEARING ON October 31, 2018 at 2:30PM, AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS POSTMARKED NO LATER THAN October 10, 2018.||Ask to speak in Court about the fairness of the Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and expenses.|
|DO NOTHING.||You will not be eligible to receive a payment from the Settlement, you will give up your rights, and you will still be bound by the Settlement.|