Curo Securities Settlement

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Curo Securities Settlement
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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”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional information.

If you are a Settlement Class Member, your legal rights will be affected by this Settlement whether you act or do not act. 

Please read the Notice carefully.

IF YOU PURCHASED OR OTHERWISE ACQUIRED CURO GROUP HOLDINGS CORP. COMMON STOCK DURING THE PERIOD BETWEEN APRIL 27, 2018 and OCTOBER 24, 2018, INCLUSIVE (THE “SETTLEMENT CLASS PERIOD”) AND WERE DAMAGED THEREBY, YOU ARE A CLASS MEMBER. 

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:

ACTIONS YOU MAY PURSUE

EFFECT OF TAKING THIS ACTION

  SUBMIT A PROOF OF CLAIM

 

This is the only way to be eligible to receive a payment from the Settlement.  Proofs of Claim must be postmarked (if mailed) or received (if submitted online) on or before December 17, 2020.

EXCLUDE YOURSELF FROM THE SETTLEMENT

 

Get no payment.  This is the only option that allows you to ever be part of any other lawsuit against the Defendants about the legal claims related to the issues raised in this Litigation.  A written request for exclusion must be received on or before November 27, 2020.  If you are considering excluding yourself from the Class, please note that there is a risk that any new claims asserted against the Defendants may no longer be timely and would be time-barred.  You should talk to a lawyer before you request exclusion from the Class for the purpose of bringing a separate lawsuit.  See page 9 of the Notice.

OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION

 

Write to the Court and explain why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses.  Objections must be filed with the Court and served on the parties on or before November 27, 2020.

 ATTEND THE SETTLEMENT HEARING   ON DECEMBER 18, 2020 AT             11:00 A.M. AND FILE A NOTICE OF   INTENTION TO APPEAR

 Ask to speak in Court about the fairness of the Settlement, the Plan of   Allocation, and/or the request for attorneys' fees and expenses. Requests   to speak must be filed with the Court and served on the parties on   or before November 27, 2020. If you submit a written objection,   you may, but do not have to, attend the hearing.

  DO NOTHING

Receive no payment.  You will, however, still be a Class Member, which means that you give up your right to ever be part of any other lawsuit against the Defendants about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation. 


The Settlement Hearing

The Court will hold a Settlement Hearing, which the Court may require or permit to be conducted as a telephonic hearing in light of the ongoing exigent circumstances caused by the COVID-19 pandemic, on December 18, 2020, at 11:00 a.m., before the Honorable John W. Lungstrum at the United States District Court for the District of Kansas, 500 State Avenue, Kansas City, Kansas 66101, for the purpose of determining whether: (1) the Settlement as set forth in the Stipulation for $8,980,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) the Settlement Class should be finally certified pursuant to Rules 23(a) and (b)(3) of the Federal Rules of Civil Procedure for purposes of settlement only; (3) Judgment as provided under the Stipulation should be entered; (4) to award Lead Counsel attorneys’ fees and expenses out of the Settlement Fund and, if so, in what amount; (5) to award Lead Plaintiff an amount pursuant to 15 U.S.C. §78u-4(a)(4) in connection with its representation of the Settlement Class out of the Settlement Fund and, if so, in what amount; and (6) the Plan of Allocation should be approved by the Court.  The Court may adjourn or continue the Settlement Hearing without further notice to Members of the Settlement Class.

What is this case about?

The Litigation is currently pending in the United States District Court for the District of Kansas before the Honorable John W. Lungstrum (the “Court”).  The initial complaint was filed on December 5, 2018.  On March 13, 2019, the Court appointed Carpenters Pension Fund of Illinois as Lead Plaintiff and Robbins Geller Rudman & Dowd LLP as Lead Counsel.

Lead Plaintiff filed the Consolidated Complaint for Violations of the Federal Securities Laws (the “Complaint”) on May 31, 2019.  The Complaint alleges that Defendants are liable for violations of the Securities Exchange Act of 1934 (“Exchange Act”) resulting from allegedly materially false and misleading statements or omissions of material facts necessary to make statements made by those Defendants in public filings and other public statements not misleading.  Among other things, Lead Plaintiff alleges that Defendants are liable for false and misleading statements and omissions regarding Curo’s business operations and financial performance.  Lead Plaintiff further alleges that when the alleged truth regarding Curo’s true business operations and financial condition was revealed, alleged artificial inflation was removed from the price of Curo common stock, damaging Members of the Settlement Class.  Defendants deny each and all of Lead Plaintiff’s allegations.  Defendants contend that they are not liable for any such alleged false or misleading statements and that all information required to be disclosed by the federal securities laws was so disclosed. 

The Settlement Benefits  

The Settlement, if approved, will result in the creation of a cash settlement fund of $8,980,000. This fund, plus accrued interest and minus the costs of this Notice and all costs associated with the administration of the Settlement, including Taxes and Tax Expenses, as well as attorneys’ fees and expenses, and any award to Lead Plaintiff pursuant to 15 U.S.C. §78u-4(a)(4) in connection with its representation of the Settlement Class, as approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Settlement Class Members pursuant to the Plan of Allocation that is described in the next section of this Notice.

Further Information

This website and the Notice summarize the Settlement.  For more details regarding the Settlement please reference the Settlement Agreement, or other documents filed in the case under the “Court Documents” link on the left.  You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement:

Claims Administrator:

Curo Securities Settlement

c/o A.B. Data, Ltd.

PO Box 173109

Milwaukee, WI  53217

(866) 833-7336

info@CuroSecuritiesSettlement.com


Lead Counsel:

Theodore J. Pintar

ROBBINS GELLER RUDMAN & DOWD LLP

655 West Broadway, Suite 1900

San Diego, CA  92101

Telephone: (800) 449-4900

 
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