The Rosen Law Firm, P.A. Announces Proposed Securities Class Action Settlement on Behalf of Purchasers of The RealReal, Inc. common stock – REAL


SAN JOSE, Calif., May 02, 2022 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Northern District of California has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of The RealReal, Inc. common stock (NASDAQ: REAL):

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION

TO: ALL PERSONS WHO PURCHASED THE REALREAL, INC. (“TRR”) COMMON STOCK BETWEEN JUNE 27, 2019 AND NOVEMBER 20, 2019, BOTH DATES INCLUSIVE

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on July 28, 2022 at 9:00 a.m. before the Honorable Edward J. Davila, United States District Judge for the Northern District of California, San Jose Courthouse, 280 South 1st Street, Courtroom 4, San Jose, CA 95113, or by telephonic or videoconference means as directed by the Court, for the purpose of determining:

(1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $11,000,000 should be approved by the Court as fair, reasonable, and adequate;
(2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate;
(3) whether the application by Lead Counsel for an award of attorneys’ fees of up to 25% of the Settlement Amount (or $2,750,000), reimbursement of expenses of no more than $75,000, and a Compensatory Award of reasonable costs and expenses (including lost wages) directly relating to their representation of the Settlement Class of no more than $17,000 total for Plaintiffs should be approved; and
(4) whether the Action should be dismissed with prejudice as set forth in the Stipulation of Settlement, dated November 5, 2021 (“Stipulation”).

If you purchased TRR common stock between June 27, 2019 and November 20, 2019, both dates inclusive (“Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in TRR common stock. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Long Notice”) and a copy of the Proof of Claim and Release Form (“Proof of Claim”), you may obtain copies by contacting the Claims Administrator at: The RealReal, Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Ste. 205, Media, PA 19063, Telephone: (866) 274-4004, Facsimile: (610) 565-7985, info@strategicclaims.net. You can also download copies of the Long Notice and submit your Proof of Claim online at www.strategicclaims.net/TRR. 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 properly completed Proof of Claim electronically or postmarked no later than June 28, 2022 to the Claims Administrator, establishing that you are entitled to recovery.

If you are a Settlement Class Member and desire to be excluded from the Settlement Class, you must submit a request for exclusion, in the manner and form explained in the Long Notice, to the Claims Administrator so that it is received no later than July 7, 2022. 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.

Any objection to the Settlement, Plan of Allocation, Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses, or the Compensatory Award to Plaintiffs must be in the manner and form explained in the Long Notice and received no later than July 7, 2022, by the Clerk of the Court, U.S. District Court, Northern District of California, 280 South 1st Street, Room 2112, San Jose, California 95113.

If you have any questions about the Settlement, you may call or write to Lead Counsel:

THE ROSEN LAW FIRM, P.A.
Phillip Kim
275 Madison Avenue, 40th Floor
New York, NY 10016
212-686-1060

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

DATED: MARCH 24, 2022        
                
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
NORTHERN DISTRICT OF CALIFORNIA