WILMINGTON, Del., June 8, 2012 /PRNewswire/ -- The following release was issued today by Grant & Eisenhofer P.A.:
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN RE DELPHI FINANCIAL GROUP (formerly traded on NYSE as ticker: DFG) SHAREHOLDERS LITIGATION, CONSOLIDATED C.A. No. 7144-VCG
Summary Notice of Proposed Settlement of Class Action, Settlement Hearing, and Right to Appear
TO: ANY AND ALL RECORD AND BENEFICIAL HOLDERS OF DELPHI FINANCIAL GROUP, INC. ("DELPHI") CLASS A COMMON STOCK, AT ANY TIME BETWEEN AND INCLUDING JULY20, 2011 AND THE MERGER DATE (I.E., MAY 15, 2012), AND/OR ANY AND ALL HOLDERS OF CERTAIN VESTED OPTIONS TO PURCHASE SHARES OF DELPHI CLASS A COMMON STOCK AS OF THE MERGER DATE (I.E., MAY 15, 2012), THEIR RESPECTIVE SUCCESSORS IN INTEREST, PREDECESSORS, REPRESENTATIVES, TRUSTEES, EXECUTORS, ADMINISTRATORS, HEIRS, ASSIGNS OR TRANSFEREES, IMMEDIATE AND REMOTE, AND ANY PERSON OR ENTITY ACTING FOR OR ON BEHALF OF, OR CLAIMING UNDER, ANY OF THEM, AND EACH OF THEM, TOGETHER WITH THEIR PREDECESSORS, SUCCESSORS, AND ASSIGNS.
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 an Order of the Court of Chancery of the State of Delaware (the"Court"), dated May 16, 2012, that Plaintiffs and Defendants in the above-captioned class action lawsuit (the"Action") have entered into a proposed settlement of the Action (the "Settlement") for $49 million in cash. Asettlement hearing will be held in the Court of Chancery Courthouse, 34 The Circle, Georgetown, Delaware 19947, on July 31, 2012, at 1:30 p.m. (the "Settlement Hearing") to, among other things, (i)determine whether a Settlement Class consisting of the persons and entities described above, except for certain persons and entities who are excluded from the Settlement Class by definition, should be certified permanently for Settlement purposes; (ii) determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (iii) determine whether the Released Claims against Defendants and other Released Parties should be dismissed with prejudice; (iv) determine whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) consider the application of Class Counsel for attorneys' fees and reimbursement of expenses.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING ACTION AND THE SETTLEMENT. IF YOU HELD YOUR SHARES AND/OR OPTIONS AS OF THE MERGER DATE (i.e., MAY 15, 2012), YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Proposed Settlement of Class Action, Settlement Hearing, and Right to Appear (the "Notice") and Proof of Claim form (the"Claim Form"), and would like further information concerning the Settlement, you may obtain copies of these documents by contacting the Settlement Administrator:
Delphi Financial Group Shareholders Litigation
Attn: Fulfillment Department, Settlement Administrator
c/o A.B. Data, Ltd.
PO Box 170500
3410 West Hopkins Street
Milwaukee, WI 53217-8042
Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Settlement Administrator, abdataclassaction.com/cases.aspx; keyword: Delphi Financial.
If you are a Settlement Class Member, in order to be eligible to share in the distribution of the Settlement Fund, you must submit a Claim Form no later than August 15, 2012. If you are a Settlement Class Member you will be bound by any Judgment entered in the Action whether or not you make a Claim. Any objections to the proposed Settlement, Plan of Allocation and/or application for attorneys' fees and expenses must be filed with the Court and delivered to all counsel listed in the Notice such that they are received no later than July 17, 2012, in accordance with the instructions set forth in the Notice. If you are a Settlement Class Member and do not timely 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 any of the following Lead Counsel:
Stuart M. Grant, Esq.
Grant & Eisenhofer P.A.
123 Justison Street
Wilmington, Delaware 19801
Mark Lebovitch, Esq.
Bernstein Litowitz Berger & Grossmann LLP
1285 Avenue of the Americas
New York, New York 10019
Joseph Russello, Esq.
Robbins Geller Rudman & Dowd LLP
58 South Service Road, Suite 200
Melville, New York 11747
Michael C. Wagner, Esq.
Kessler Topaz Meltzer & Check, LLP
280 King of Prussia Road
Radnor, Pennsylvania 19087
Michael Hanrahan, Esq.
Prickett, Jones & Elliott, P.A.
1310 North King Street
PO Box 1328
Wilmington, Delaware 19899
DATED: JUNE 8, 2012
BY ORDER OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE
SOURCE Grant & Eisenhofer P.A.