If you are a Class Member, you have a right to stay in the case as a Class Member or be excluded from the lawsuit. You have to decide this very soon.
Option 1. Do Nothing. Stay in the Lawsuit.
You have the right to stay in the lawsuit as a Class Member and await the outcome of the case. You need to do nothing if you wish to remain in this lawsuit. It will cost you nothing. If you decide to stay in the lawsuit as a Class Member, you will be bound by all orders, judgments and decisions of the District Court, whether favorable or unfavorable to the Class. At the end of the case, you may receive money or other benefits as may be awarded as a result of a trial or as a result of a settlement reached between Lead Plaintiffs and Defendants, or you may receive nothing.
If you stay in the case, Lead Plaintiffs will pursue the claims and remedies on your behalf. There is no guarantee that Lead Plaintiffs will be successful with their claims and/or win the lawsuit at trial or earlier or later. If the Class is awarded money or benefits, you will be notified about how to make a claim for your share, if any. While this Notice is not intended to suggest any likelihood that members of the Class will recover any money, should there be a recovery, Class Members will be required to submit a claim form demonstrating their membership in the Class and documenting their sales, purchases and/or holdings of Novo ADRs. For this reason, please be sure to keep all records of your transactions and holdings in Novo ADRs. DO NOT mail them to Class Counsel or the Notice Administrator at this time.
The District Court has appointed Lead Plaintiffs Central States, Southeast and Southwest Areas Pension Fund, Lehigh County Employees’ Retirement System, Oklahoma Firefighters Pension and Retirement System, Boston Retirement System and Employees’ Pension Plan of the City of Clearwater to be the Class Representatives and provide evidence on behalf of you and other Class Members. The District Court has also appointed the following law firms as Class Counsel for those Class Members who stay in the lawsuit:
ROBBINS GELLER RUDMAN
& DOWD LLP
655 West Broadway, Suite 1900
San Diego, CA 92101
BERNSTEIN LITOWITZ BERGER
& GROSSMANN LLP
1251 Avenue of the Americas
New York, NY 10020
Philadelphia, PA 19102
More information is available about Class Counsel on the websites listed above.
In the event that Lead Plaintiffs are successful through trial or settlement, Class Counsel will seek attorneys’ fees and expenses, which will be determined by the District Court. You will not be personally responsible for any fees, costs or expenses of Class Counsel relating to the prosecution of this lawsuit.
Please keep in mind that if you do nothing now and stay in the lawsuit, you will give up your rights to sue Defendants separately in another lawsuit regarding legal claims that are, or could have been, part of this lawsuit, and your rights to recover in other lawsuits involving Defendants may be impacted. You also may forgo your right to pursue claims based on alternative legal theories in favor of the theories being pursued in this case. You waive your right to bring a separate lawsuit if you do not exclude yourself from this case.
Option Option 2. Exclude Yourself from the Lawsuit.
Alternatively, you have the right to not be part of this lawsuit by excluding yourself or “opting out” of the Class. If you wish to exclude yourself, you must do so on or before October 13, 2020, as described below. Class Members will not have another opportunity to exclude themselves or otherwise opt out of this Litigation. If you exclude yourself from the Class, you give up your right to receive any money or other benefits awarded in this case, and you will not be bound by any judgments or other orders of the District Court, whether favorable or unfavorable to you and/or the Class. Additionally, if you exclude yourself from the Class, you will keep your rights, if any, to sue Defendants separately in another lawsuit and bring the same legal claims that are part of this lawsuit. If you wish to pursue your own lawsuit, you will need to exclude yourself and hire and pay your own lawyer. If you choose this option, you should be aware that your claims may be time barred. You should seek legal advice to determine if your claims would be barred by the applicable statute of limitation or repose.
Do not request exclusion if you wish to be a Class Member in this Litigation.