NEW YORK, April 20 /PRNewswire/ -- Bernstein Litowitz Berger & Grossmann LLP is issuing the following statement regarding the Sunrise Senior Living, Inc. Securities Litigation.
UNITED STATES DISTRICT COURT DISTRICT OF COLUMBIA IN RE: SUNRISE SENIOR LIVING, INC. Master File SECURITIES LITIGATION 07 Civ. 00102 (RBW) This Document Relates to: All Cases SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION TO: ALL PERSONS WHO PURCHASED OR ACQUIRED THE COMMON STOCK OF SUNRISE SENIOR LIVING, INC. ("SUNRISE") BETWEEN FEBRUARY 26, 2004 AND JULY 28, 2006, INCLUSIVE, AND WERE DAMAGED THEREBY (THE "CLASS"). PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
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 District of Columbia, (i) of the pendency of this action (the "Action") as a class action on behalf of the Class described above, except for certain persons and entities who are excluded from the Class by definition; and (ii) that a settlement for $13,500,000 in cash has been proposed. A hearing will be held before the Honorable Reggie B. Walton, U.S. District Judge for the United States District Court for the District of Columbia, at the E. Barrett Prettyman United States Courthouse, 333 Constitution Avenue, N.W., Courtroom 5, Washington, D.C. 20001 at 2:00 p.m. on June 26, 2009 (i) to determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (ii) to determine whether the Released Claims against Defendants and the other Released Persons should be dismissed with prejudice; (iii) to determine whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) to consider the application of Lead Counsel for an award of attorneys' fees and reimbursement of litigation expenses.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING ACTION AND THE SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency and Proposed Settlement of Class Action (the "Notice") and Proof of Claim form (the "Claim Form"), you may obtain copies of these documents by contacting the Claims Administrator:
Sunrise Senior Living, Inc. Securities Litigation c/o The Garden City Group, Inc. PO Box 9363 Dublin OH 43017-4263
Copies of the Notice and Claim Form may also be downloaded from the Claims Administrator's internet website, www.gardencitygroup.com.
If you are a Class Member, in order to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form no later than July 27, 2009. If you are a Class Member and do not exclude yourself from the Class, you will be bound by any judgment entered in the Action whether or not you make a Claim. To exclude yourself from the Class, you must submit a request for exclusion postmarked no later than June 5, 2009, in accordance with the instructions set forth in the Notice. Any objections to the proposed Settlement, Plan of Allocation and/or application for an award of attorneys' fees and reimbursement of litigation expenses must be filed with the Court and delivered to Lead Counsel for the Class no later than June 5, 2009 in accordance with the instructions set forth in the Notice. If you are a Class Member and do not submit a proper Claim Form, you will not share in the Settlement Fund but you will nevertheless be bound by the Judgment of the Court.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the Notice and Claim Form, may be made to Lead Counsel:
William C. Fredericks, Esq. Michael J. Pucillo, Esq. Bernstein Litowitz Berger & Grossmann LLP Berman DeValerio 1285 Avenue of the Americas 4280 Professional Center Drive, Suite 350 New York, NY 10019 Palm Beach Gardens, FL 33410 By Order of the Court
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