Cohen Milstein Sellers & Toll PLLC Announces Proposed Class Action Settlement on Behalf of Purchasers of Performance Sports Group Ltd. Common Stock

16 August 2022

Cohen Milstein Sellers & Toll PLLC announces 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 of Performance Sports Group Ltd. Common stock:

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION and PROPOSED SETTLEMENT

TO: ALL PERSONS AND ENTITIES WHO PURCHASED COMMON STOCK OF PERFORMANCE SPORTS GROUP LTD. ("PSG") ON A U.S. EXCHANGE BETWEEN JANUARY 15, 2015 AND OCTOBER 28, 2016, INCLUSIVE (THE "CLASS PERIOD").

YOU ARE HEREBY NOTIFIED that a proposed Settlement has been reached in this Action. A hearing will be held with respect to the Settlement on November 18, 2022, at 3:30 p.m. before the Honorable Gregory H. Woods, in the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., Courtroom 12C, New York, New York 10007.

The purpose of the hearing is to determine whether the proposed Settlement of the securities class action claims asserted in this Action, pursuant to which Defendants' Insurance Carriers will deposit into a Settlement Fund the sum of thirteen million U.S. dollars ($13,000,000.00) in exchange for the dismissal of the Action with prejudice and a release of claims against the Defendants and Defendants' Releasees, should be approved by the Court as fair, reasonable and adequate and in the best interests of the Settlement Class. If you purchased PSG common stock on a U.S. stock exchange during the Class Period, so long as you also purchased at least one share of PSG common stock on a U.S. stock exchange from January 15, 2015 through March 14, 2016, inclusive, and were damaged thereby, you may be entitled to share in the distribution of the Settlement Fund either by submitting a Proof of Claim Form postmarked no later than November 14, 2022 to the Claims Administrator at the address below or by submitting it electronically at www.psgsecuritieslitigation.com, and if the information and documentation you provide in that Proof of Claim Form establishes that you are entitled to a recovery.

This Summary Notice provides only a summary of matters regarding the Action and the Settlement. A detailed notice (the "Notice") describing the Action, the proposed Settlement, and the rights of Settlement Class Members to appear in Court at the Final Approval Hearing, to request to be excluded from the Settlement Class, and/or to object to the Settlement, the Plan of Allocation and/or the request by Lead Counsel for an award of attorneys' fees and reimbursement of Litigation Expenses, has been mailed to persons or entities known to be potential Settlement Class Members. You may obtain a copy of that Notice, a Proof of Claim Form, the Stipulation and Agreement of Settlement between the Settling Parties, dated December 1, 2021 ("Stipulation") and other information at www.psgsecuritieslitigation.com, or by writing to the Claims Administrator at the following address or calling the following telephone number.

Performance Sports Group Ltd. Securities Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson St., Ste. 205
Media, PA 19063
Tel.: (866) 274-4004
[email protected]

If you are a Settlement Class Member, you have the right to object to the Settlement, the Plan of Allocation and/or the request by Lead Counsel for an award of attorneys' fees and Litigation Expenses, or otherwise request to be heard, by submitting so that it is received at the addresses specified in the Notice no later than October 28, 2022, a written objection in accordance with the procedures described in the Notice. You also have the right to exclude yourself from the Settlement Class by submitting so that it is received by the Claims Administrator no later than October 28, 2022, a written request for exclusion from the Settlement Class in accordance with the procedures described in the Notice. If the Settlement is approved by the Court, you will be bound by the Settlement and the Court's Judgment, including the releases provided for in the Stipulation and Judgment, unless you submit a request to be excluded.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the Notice, Proof of Claim Form and the Stipulation referenced above, may be made to Lead Counsel for the Lead Plaintiff:

COHEN MILSTEIN SELLERS & TOLL PLLC
Carol V. Gilden
190 S. LaSalle St., Suite 1705
Chicago, IL 60603
Tel: (312) 357-0370
Email: [email protected]

 

Source:prnewswire.com