Labaton Sucharow LLP Announces Proposed Class Action Settlement in Hall v. Rent-A-Center, Inc.

SHERMAN, Texas, Jan. 16, 2019 /PRNewswire/ --

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF TEXAS
SHERMAN DIVISION

	§
ALAN HALL AND JAMES DEPALMA,	§
	§
PLAINTIFFS,	§
	§	CIVIL NO. 4:16-CV-00978-ALM-CMC
v.	§
	§
RENT-A-CENTER, INC., ROBERT D.	§
DAVIS, AND GUY J. CONSTANT,	§
	§
DEFENDANTS.	§
	§

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED
SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

To:      All Persons Who Purchased or Otherwise Acquired Rent-A-Center, Inc. Publicly-Traded Common Stock During the Period from February 2, 2015 Through October 10, 2016, Inclusive and Who Were Allegedly Damaged Thereby (the "Settlement Class"). 

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 Eastern District of Texas, that Lead Plaintiff Oklahoma Firefighters Pension and Retirement System, on behalf of itself, additional named plaintiff City of Hollywood Employees' Retirement Fund, and the proposed Settlement Class, and Rent-A-Center, Inc., Robert D. Davis, and Guy J. Constant, (collectively, the "Defendants"), have reached a proposed settlement of the above-captioned action (the "Action") in the amount of $11,000,000 that, if approved, will resolve the Action in its entirety (the "Settlement").

A hearing will be held before the Honorable Amos L. Mazzant, III of the United District Court for the Eastern District of Texas, at the Paul Brown United States Courthouse, 101 East Pecan Street, Sherman, TX 75090, Courtroom 208, at 10:00 a.m. on May 3, 2019 (the "Settlement Hearing") to, among other things, determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated December 3, 2018; (iii) approve the proposed Plan of Allocation for distribution of the Net Settlement Fund; and (iv) approve Lead Counsel's Fee and Expense Application.  The Court may change the date of the Settlement Hearing without providing another notice.  You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT.  If you have not yet received a Notice and Proof of Claim and Release form ("Claim Form"), you may obtain copies of these documents by visiting the website dedicated to the Settlement, www.RentACenterSecuritiesSettlement.com, or by contacting the Claims Administrator at:

Hall v. Rent-A-Center, Inc.
Claims Administrator
P.O. Box 3727
Portland, OR 97208-3727
[phone]

Inquiries, other than requests for the Notice/Claim Form or for information about the status of a claim, may also be made to Lead Counsel:

Jonathan Gardner, Esq.
LABATON SUCHAROW LLP
140 Broadway
New York, NY 10005
www.labaton.com
[e-mail]
[phone]

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or received no later than May 2, 2019.  If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court in the Action, whether favorable or unfavorable. 

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than April 12, 2019.  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, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund. 

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel's Fee and Expense Application must be filed with the Court and mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are filed and receivedno later than April 12, 2019. 

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

DATED: January 16, 2019		BY ORDER OF THE COURT
		UNITED STATES DISTRICT COURT
		EASTERN DISTRICT OF TEXAS

 

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SOURCE United States District Court for the Eastern District of Texas