SAN DIEGO, June 28, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that the United States District Court for the Southern District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of the common stock of BofI Holding, Inc. (NYSE: AX):
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS’ FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities who, during the period between March 14, 2016 and October 24, 2017, inclusive, purchased or otherwise acquired BofI Holding, Inc. (“BofI”) securities and were allegedly damaged thereby (the “Settlement Class”)
PLEASE READ THIS NOTICE CAREFULLY, AS YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
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 California, that the above-captioned litigation (the “Action”) has been certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses (the “Notice”).
YOU ARE ALSO NOTIFIED that Lead Plaintiff in the Action has reached a proposed settlement of the Action for $900,000 (the “Settlement”), that, if approved, will resolve all claims in the Action.
A hearing will be held on September 23, 2022 at 1:30 p.m., before the Honorable Gonzalo P. Curiel at the United States District Court for the Southern District of California, Edward J. Schwartz United States Courthouse, 221 West Broadway, San Diego, CA 92101, in Courtroom 2D, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated January 31, 2022 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel’s application for an award of attorneys’ fees and reimbursement of expenses and Lead Plaintiff’s reimbursement for their time and expenses should be approved. The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Notice and Proof of Claim Form (“Claim Form”), you may obtain copies of these documents by contacting the Claims Administrator at Mandalevy v. BofI Holding, Inc., c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063, toll-free number: (866) 274-4004, Fax: (610) 565-7985, email: info@strategicclaims.net. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.bofisettlement.com.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form to the Claims Administrator postmarked no later than October 13, 2022 or submitted electronically by 11:59 p.m. EST on October 13, 2022. 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 judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than September 2, 2022 by the Claims Administrator, Lead Counsel, and Settling Defendants’ Counsel, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel’s motion for attorneys’ fees and reimbursement of expenses and reimbursement to Lead Plaintiff, must be filed with the Clerk of the Court and delivered to Lead Counsel and Settling Defendants’ Counsel such that they are received no later than September 2, 2022:
| Clerk’s Office United States District Court for the Southern District of California Clerk of the Court 333 West Broadway, Suite 420 San Diego, CA 92101 | Lead Counsel Pomerantz LLP Jeremy A. Lieberman, Esq. 600 Third Avenue, 20th Floor New York, NY 10016-1917 | Settling Defendants’ Counsel Sheppard, Mullin, Richter & Hampton, LLP John P. Stigi III 1901 Avenue of the Stars, Suite 1600 Los Angeles, California 90067 |
Please do not contact the Court, the Clerk’s office, BofI, or its counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
POMERANTZ LLP
Jeremy Lieberman, Esq.
600 Third Ave., 20th Floor
New York, NY 10016-1917
Telephone: 212-661-1100
jalieberman@pomlaw.com
Requests for the Notice and Claim Form should be made to:
Mandalevy v. BofI Holding, Inc.
c/o Strategic Claims Services
600 N. Jackson St., Ste. 205
P.O. Box 230
Media, PA 19063
Toll-free number: 866-274-4004
Fax: 610-565-7985
www.bofisettlement.com
By Order of the Court
