NEW YORK, NY / ACCESSWIRE / February 28, 2020 / TO: RECORD AND BENEFICIAL HOLDERS OF WEST MARINE, INC.'S ("WEST MARINE") COMMON STOCK AS OF SEPTEMBER 14, 2017, THE DATE OF THE CONSUMMATION OF WEST MARINE'S MERGER (THE "MERGER"), INCLUDING ANY AND ALL OF THEIR RESPECTIVE SUCCESSORS-IN-INTEREST, SUCCESSORS, PREDECESSORS-IN-INTEREST, PREDECESSORS, REPRESENTATIVES, TRUSTEES, EXECUTORS, ADMINISTRATORS, ESTATES, HEIRS, ASSIGNS AND TRANSFEREES, IMMEDIATE AND REMOTE, AND ANY PERSON OR ENTITY ACTING FOR OR ON BEHALF OF, OR CLAIMING UNDER, ANY OF THEM, AND EACH OF THEM, TOGETHER WITH THEIR PREDECESSORS-IN-INTEREST, PREDECESSORS, SUCCESSORS-IN-INTEREST, SUCCESSORS, AND ASSIGNS (THE "CLASS").
THE PARTIES TO A SHAREHOLDER CLASS ACTION SUIT CONCERNING THE MERGER HAVE AGREED TO A PROPOSED SETTLEMENT. YOU MAY BE ENTITLED TO COMPENSATION AS A RESULT OF THE PROPOSED SETTLEMENT IN THE ACTION CAPTIONED:
PATTERSON v. REPASS et al., Case No. 17-CV-01995
YOU ARE HEREBY NOTIFIED, pursuant to California Code of Civil Procedure Section 382 and an Order of the Court on December 12, 2018, that the above-captioned action has been certified as a class action and that a settlement for $2,500,000 has been proposed (the "Settlement"). Under the Settlement, the settlement amount, minus any Court-approved attorneys' fees, incentive awards, expenses, and administrative costs, will be distributed on a per-share basis to Class members who owned shares of West Marine common stock as of September 14, 2017, the date of the consummation of the Merger. A hearing will be held before the Honorable John Gallagher in the Santa Cruz County Superior Court, Department 10, located at 701 Ocean Street, Santa Cruz, California 95060, at 8:30 a.m. on May 13, 2020 to determine whether the Settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the application of Plaintiff's Counsel for attorneys' fees and reimbursement of expenses and incentive awards for the named Plaintiff (the "Settlement Hearing").
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT. IF THE COURT APPROVES THE SETTLEMENT, YOU WILL BE FOREVER BARRED FROM PURSUING THE RELEASED CLAIMS.
You may obtain copies of the Stipulation of the Agreement of Settlement, Compromise, and Release„ a detailed Notice of Pendency of Class Action, Proposed Settlement, Settlement Hearing, and Right to Appear (the "Notice"), and instructions concerning your right to appear and object to the Settlement or award of attorneys' fees by visiting the website or contacting Plaintiff's Counsel:
BRODSKY & SMITH, LLC
Evan J. Smith
Brodsky & Smith, LLC
Two Bala Plaza, Suite 510
Bala Cynwyd, PA 19004
610.667.6200
MONTEVERDE & ASSOCIATES PC
Juan E. Monteverde
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
212.971.1341
As described more fully in the Notice, you need not file a written objection in order to object and may appear at the Settlement Hearing personally to make an oral objection. In the event there is a written objection it shall be filed with the Court and served upon Plaintiff's counsel above such that they are received no later than twenty-one (21) calendar days prior to the Settlement Hearing, or no later than April 22, 2020.
If you want to be excluded from the Class and Settlement, you must make a request in writing no later than twenty-one (21) calendar days prior to the Settlement Hearing, or no later than April 22, 2020.
Further information may be obtained by contacting the Plaintiff's Counsel listed above.
PLEASE DO NOT CALL THE COURT.
By Order of The Court
SOURCE: Monteverde & Associates PC