If You Purchased Huffy Corporation (“Huffy”) Publicly Traded Securities During The Period Between April 16, 2002 and August 13, 2004, Inclusive (“Class Period”), Your Rights May Be Affected By A Class Action Settlement.
A class action settlement has been reached in a class action lawsuit pending against Don R. Graber, Robert W. Lafferty, Timothy G. Howard, and Paul R. D’Aloia (collectively, “Defendants”) in the United States District Court for the Southern District of Ohio Western Division in Dayton (styled In re Huffy Corporation Securities Litigation, Lead Case No. 3:05cv0028), alleging, among other things, that Defendants caused Huffy to issue materially false and misleading statements regarding Huffy’s financial condition prior to its acquisition of Gen-X Sports, Inc. (“Gen-X”) in 2002; Gen-X’s pre-acquisition financial condition; the performance of Gen-X following its acquisition by Huffy; Huffy’s financial condition; and the extent and significance of Gen-X’s problems, according to the Huffy securities class action settlement notice.
Under the proposed Huffy securities class action lawsuit settlement, Huffy has reportedly transferred Eight Million Dollars ($8,000,000) to an interest-bearing escrow account (the “Settlement Fund”). The Huffy settlement fund, less certain administrative expenses, including the costs of printing and mailing Notice, the cost of publishing newspaper notice, payment of any taxes assessed against the Settlement Fund, and costs associated with the processing of claims submitted, named plaintiff incentive awards, attorneys fees and expenses (the “Net Settlement Fund”) will be distributed to Huffy Class Members who submit valid and timely Proof of Claim forms.
The Huffy settlement class reportedly includes all persons and entities who purchased Huffy’s publicly-traded securities between April 16, 2002 and August 13, 2004, inclusive, who are otherwise not excluded from the class action settlement.
A settlement hearing (the “Settlement Hearing”) is scheduled to be held on October 8, 2010, at 9:00 a.m., before the Honorable Senior United States District Judge Walter Herbert Rice, in Room 909 of the United States District Court for the Southern District of Ohio, Western Division (Dayton), United States Courthouse and Federal Building, 200 West Second Street, Dayton, Ohio 45402, for the Court to consider, among other things, whether the settlement is fair, reasonable and adequate and should be finally approved.
For more information on the Huffy securities class action lawsuit settlement and potential settlement benefits, visit the Huffy Corporation Securities Litigation website.
If You Have Thoughts On TheHuffySecurities Class Action Lawsuit Settlement, Share Your Settlement Comments Below.
A few months ago we snail mailed forms for the Huffy class action settlement. Since we were never notified as to this settlement our request was late. However we sent them to you but have not gotten a response. As a refresher we own 1400 share in two bundles. We hope to have about $2400 restored to our TDAmeritrade Roth account. Have you received our letter? Did you respond? Thank you.