The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of PTC Inc. -- PTC
BOSTON, April 03, 2017 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court District of Massachusetts has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of PTC Inc. (NASDAQ:PTC):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED COMMON STOCK OF PTC INC. FROM NOVEMBER 24, 2011 TO JULY 29, 2015, INCLUSIVE.
YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified as a class action for settlement purposes and that the Lead Plaintiff has reached a proposed settlement with Defendants to resolve all claims in the case for $2,100,000 in cash. The Settlement Class consists of all persons who purchased or otherwise acquired common stock of PTC Inc. from November 24, 2011, through July 29, 2015, inclusive, including anyone who sold PTC shares short and then purchased shares to cover that short position during the Settlement Class Period. If you are a Settlement Class Member, your rights will be affected by this settlement, and you may be entitled to share in the Settlement Fund.
A hearing will be held on July 13, 2017, at 2:00 p.m. before the Honorable William G. Young, United States District Judge of the District of Massachusetts, 1 Courthouse Way, Boston, Massachusetts 02210, Courtroom # 18, to determine: (1) whether the Court should approve the settlement and plan of allocation as fair, reasonable, and adequate; and (2) whether the Court should approve Lead Counsel’s application for an award of attorneys’ fees of up to one third of the Settlement Amount, reimbursement of expenses of not more than $40,000, and an incentive payment of no more than $2,500 to Lead Plaintiff.
If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to or calling the Claims Administrator: PTC Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 3, P.O. Box 230, Media, PA 19063; (Tel) (866)274-4004; or by email at email@example.com, or going to the website, www.strategicclaims.net. 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 Proof of Claim and Release Form to the Claims Administrator postmarked no later than May 30, 2017, establishing that you are entitled to recovery.
As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim and Release Form, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, by no later than June 13, 2017. Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Lead Plaintiff must be served no later than June 26, 2017, in the manner and form explained in the detailed Notice.
If you have any questions about the Settlement, you may call or write to the Claims Administrator at the address and phone number listed above, or Lead Counsel at The Rosen Firm, P.A., c/o Laurence M. Rosen, Esq., 275 Madison Avenue, 34th Floor, New York, NY 10016, (212) 686-1060.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.