Welcome to the SITO Mobile, Ltd. Securities Litigation Settlement Website.
The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.
Plaintiffs Have Reached a Proposed Settlement, Subject to Court Approval
The Court-appointed Lead Plaintiff, on behalf of themselves and the Class, have reached a proposed settlement of this action, captioned Roper v. SITO Mobile, Ltd., Case No. 2:17-cv-01106-ES-MAH (D.N.J) (the “Action”), for a cash payment of $1.25 million (the “Settlement”). The Settlement, if approved by the Court, will resolve all claims in this Action.
Your Rights in the Proposed Settlement
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the proceeds of the Settlement, if it receives final Court approval. The Class certified by the Court includes all persons or entities who purchased or otherwise acquired SITO Mobile common stock between August 15, 2016 and January 2, 2017, inclusive, except those persons or entities that are excluded, as described below.
You are not a Class Member if you are: (a) a Defendant; (b) a director, officer, or employee of SITO Mobile during the Class Period; (c) a member of the immediate family, trust, company, entity or affiliate controlled or owned by any excluded party; or (d) any firm or entity in which any Defendant has or had a controlling interest. Also excluded from the Class are those Persons who timely and validly request exclusion from the Class pursuant to this Notice.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu at the top of this page.
If you are a member of the Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked no later than April 16, 2020.
Payments to eligible claimants will be made only after the Settlement and a plan of allocation are approved by the Court and any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
IMPORTANT DATES AND DEADLINES
| Date | Deadline |
|---|---|
| April 16, 2020. | Claim Filing Deadline: Claim Forms must be postmarked no later than April 16, 2020 to be eligible for a payment from the Settlement. |
| March 17, 2020. | Exclusion Deadline: If you do not want a payment from this settlement, but you want to keep the right to sue or continue to sue any of the Defendants on your own about the same legal issues in this case, then you must take steps to get out of the Class. This is called excluding yourself or is sometimes referred to as opting out of the Class. Requests to be excluded from the proposed Settlement must be received no later than March 17, 2020, in accordance with the instructions in the Notice. |
| March 17, 2020. | Objection Deadline: Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Plaintiff’s counsel’s request for an award of attorneys’ fees and expenses, must be received no later than March 17, 2020, in accordance with the instructions in the Notice. |
| APRIL 21, 2020 AT 10:00 A.M. | The Final Approval Hearing: A hearing will be held on April 21, 2020, at 10:00 a.m., before the Honorable Esther Salas, United States District Judge, at the Courthouse for the United States District Court, District of New Jersey, Courtroom MLK 5A, Martin Luther King Building & U.S. Courthouse, 50 Walnut Street, Newark, NJ 07101.
The Hearing will be held by the Court for the purpose of determining: (1) whether the proposed settlement of the Litigation for the combined sum of $1,250,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) whether the Settlement Class should be certified for purposes of the Settlement and whether Lead Plaintiff and Lead Counsel should be certified as class representative and class counsel for the purposes of the Settlement; (3) whether, thereafter, the Litigation should be dismissed with prejudice as set forth in the Stipulation of Settlement dated as of July 31, 2019 (“Stipulation”); (4) whether the Plan of Allocation of settlement proceeds is fair, reasonable and adequate and therefore should be approved; and (5) whether the application of Lead Counsel for the payment of attorneys’ fees and reimbursement of expenses incurred in connection with the Litigation should be approved. |