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WOLF HALDENSTEIN ADLER FREEMAN & HERZ LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Vista Outdoor Inc.-VSTO

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WOLF HALDENSTEIN ADLER FREEMAN & HERZ LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Vista Outdoor Inc.-VSTO

PR Newswire

SAN DIEGO, July 30, 2018 /PRNewswire/ -- The following statement is being issued by Wolf Haldenstein Adler Freeman & Herz LLP regarding the In re Vista Outdoor Securities Litigation.

UNITED STATES DISTRICT COURT FOR THE DISTRICT OF UTAH

PATRICK LENTSCH, On Behalf of Himself and All Others Similarly Situated, Plaintiff,

v.

VISTA OUTDOOR INC., MARK W. DEYOUNG, STEPHEN M. NOLAN, and KELLY T. GRINDLE, Defendants.

Case No. 1:17-cv-00012-DAK-EJF

SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT

TO: ALL PERSONS WHO PURCHASED OR ACQUIRED VISTA OUTDOOR INC. SECURITIES ("VISTA") BETWEEN AUGUST 11, 2016 AND NOVEMBER 9, 2017, INCLUSIVE.

YOU ARE HEREBY NOTIFIED, that pursuant to an Order of the United States District Court for the District of Utah, a hearing will be held on October 31, 2018 at 2:30 p.m. before the Honorable Dale A. Kimball, United States District Judge of the District of Utah, 351 S. West Temple, Courtroom 3.400, Salt Lake City, UT 84101 for the purpose of determining: (1) whether the proposed Settlement1 of the Settlement Class claims in the above-captioned Action for consideration in the amount of $6,250,000 in cash, should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Net Settlement Fund (the "Plan of Allocation") is fair, reasonable and adequate and therefore should be approved; (3) whether the application of Class Counsel for an award of attorneys' fees of up to 33 percent plus interest of the Settlement Amount, reimbursement of expenses of not more than $200,000 and an Award to Lead Plaintiff of no more than $10,000, in aggregate, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation dated July 2, 2018.

If you purchased or otherwise acquired Vista securities between August 11, 2016 and November 9, 2017, inclusive, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership in Vista securities. If you have not received a detailed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Settlement Fairness Hearing ("Notice") and a copy of the Proof of Claim Form, you may obtain copies by writing to Vista Outdoor Inc. Securities Litigation, c/o GCG, P.O. Box 10603, Dublin, OH 43017-9203 or calling (888-558-9299), or by going to the website, www.vistaoutdoorsecuritiessettlement.com. 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 postmarked no later than November 26, 2018, 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.

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 October 10, 2018, in the manner and form explained in the Notice. ALL MEMBERS OF THE SETTLEMENT CLASS WHO HAVE NOT VALIDLY REQUESTED EXCLUSION FROM THE SETTLEMENT CLASS WILL BE BOUND BY ANY JUDGMENT ENTERED IN THE ACTION PURSUANT TO THE SETTLEMENT.

Any objection to the Settlement, Plan of Allocation, or Class Counsel's request for an award of attorneys' fees and reimbursement of expenses and an Award to Lead Plaintiff must be in the manner and form explained in the detailed Notice and filed and served no later than October 10, 2018, to each of the following:

Clerk of the Court
United States District Court
District of Utah
351 S. West Temple
Room 1.100
Salt Lake City, UT 84101

CLASS COUNSEL
Betsy C. Manifold
Wolf Haldenstein Adler Freeman & Herz LLP
750 B Street, Suite 2770
San Diego, CA 92101

COUNSEL FOR DEFENDANTS
Robert H. Baron
Cravath, Swaine & Moore LLP
Worldwide Plaza
825 Eighth Avenue
New York, NY 10019

If you have any questions about the Settlement, you may contact the Claims Administrator or Class Counsel at the addresses listed above or go to the website at www.vistaoutdoorsecuritiessettlement.com.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

Dated: July 30, 2018

1 All capitalized terms not otherwise defined herein have the same meaning as in the Stipulation and Agreement of Settlement (the "Stipulation" or the "Settlement") filed with the Court on July 3, 2018. (Dkt. No. 82-1).

 

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SOURCE WOLF HALDENSTEIN ADLER FREEMAN & HERZ LLP

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