IMPORTANT UPDATE
The distribution of the Net Settlement Fund took place on December 15, 2021.
Overview
The parties in Howard, et al. v. Liquidity Services, Inc., et al., Case No. 1:14-cv-1183-BAH (D.D.C.) (the “LSI Securities Litigation” or the “Action”), pending in the United States District Court for the District of Columbia, have reached a proposed settlement of the Action that, if approved, will resolve all claims in the Action.
The Court in charge of this case still has to decide whether to approve the Settlement. The Settlement will create a $17,000,000 cash fund, which will earn interest, to be distributed after the deduction of Court-approved fees and expenses, to eligible Class Members who submit a valid Claim Form and are found to be entitled to a distribution from the Net Settlement Fund.
Please be advised, if you are a Class Member, your legal rights will be affected by this Settlement whether you act or do not act. The Court has decided that everyone who fits the following description is a Class Member and subject to the Settlement, unless they are an excluded person or previously took steps to exclude themselves:
All persons and entities that purchased or acquired the publicly traded common stock of Liquidity Services, Inc. (“LSI”) during the period from February 1, 2012, through May 7, 2014, inclusive (the “Class Period"), and were damaged thereby.
Check your investment records or contact your broker to see if you purchased or acquired the publicly traded common stock of LSI during the Class Period.
| YOUR LEGAL RIGHTS AND OPTIONS | |
| SUBMIT A PROOF OF CLAIM FORM BY NOVEMBER 3, 2018 | The only way to get a payment. |
| OPT BACK INTO THE CLASS BY SUBMITTING A REQUEST BY SEPTEMBER 14, 2018 | If you previously submitted a request for exclusion from the Class in connection with the previously mailed Class Notice and now want to be part of the Class in order to receive a payment, you must follow the steps for “Opting Back Into the Class” on page 5 of the Settlement Notice. |
| OBJECT BY SEPTEMBER 14, 2018 | Write to the Court about why you do not like the Settlement, the Fee and Expense Application, or the proposed Plan of Allocation. |
| GO TO A HEARING ON OCTOBER 5, 2018 | Ask to speak in Court about the Settlement, the Fee and Expense Application, or the proposed Plan of Allocation. |
| DO NOTHING | Get no payment. |
These rights and options – and the deadlines to exercise them – are more fully explained in the Settlement Notice. Your legal rights are affected whether you act or don’t act. Please read the Settlement Notice and review this website carefully.