LAS VEGAS, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The following statement is being issued by Faruqi & Faruqi, LLP regarding Tahoe Resources Inc. Securities Litigation.
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA
|In re TAHOE RESOURCES, INC. SECURITIES LITIGATION
|Case No. 2:17-cv-01868-RFB-NJK
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION LAWSUIT PENDING IN UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEVADA
To: All Persons who purchased or otherwise acquired Tahoe Resources Inc.’s (“Tahoe”) common stock in the United States or on the NYSE under the ticker symbol TAHO between April 3, 2013 and August 24, 2017, inclusive, and who suffered damages thereby (“U.S. Settlement Class”).
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 Nevada, that Tiffany Huynh, as executor for the estate of Kevin Nguyen, Lead Plaintiff in the U.S. Action (“U.S. Plaintiff”), on behalf of herself and all members of the U.S. Settlement Class and Defendants Tahoe, Ronald W. Clayton, Edie Hofmeister, C. Kevin McArthur, and Mark T. Sadler (“Defendants”), have reached a proposed settlement of the claims in the U.S. Action in the amount of $19,500,000.00 (the “U.S. Settlement”).
A hearing will be held before the Honorable Richard F. Boulware, on February 9, 2024, at 8:30 am in Courtroom 7C of the United States District Court for the District of Nevada, at the Lloyd D. George Courthouse, 333 Las Vegas Blvd. South, Las Vegas, NV 89101 (the “U.S. Settlement Hearing”) to, among other things, determine whether the U.S. Court should: (i) approve the proposed U.S. Settlement as fair, reasonable, and adequate; (ii) dismiss the U.S. Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated May 25, 2023; (iii) approve the proposed U.S. Plan of Allocation for distribution of the settlement funds available for distribution to U.S. Settlement Class Members (the “U.S. Net Settlement Fund”); and (iv) approve U.S. Plaintiff’s Counsel’s Fee and Expense Application. The U.S. Court may change the date of the U.S. Settlement Hearing, or hold it telephonically, without providing another notice. You do NOT need to attend the U.S. Settlement Hearing to receive a distribution from the U.S. Net Settlement Fund.
IF YOU ARE A MEMBER OF THE U.S. SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a full U.S. Notice and U.S. Claim Form, you may obtain copies of these documents by visiting the website of the U.S. Claims Administrator, www.USTahoeSettlement.com, or by contacting the U.S. Claims Administrator at:
Tahoe Resources United States Securities Litigation
Epiq Systems, Inc.
P.O. Box 5866
Portland, OR 97228-5866
Inquiries, other than requests for the U.S. Notice/U.S. Claim Form or for information about the status of a claim, may also be made to U.S. Plaintiff’s Counsel:
James M. Wilson, Jr.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
If you purchased or otherwise acquired Tahoe’s common stock on any Canadian exchange (including, without limitation, the Toronto Stock Exchange) or any Canadian alternative trading system under the ticker symbol THO between May 24, 2017 and July 5, 2017, then there is a separate settlement being administered through the Ontario Superior Court of Justice and you should visit www.TahoeCanadianSettlement.ca for more information regarding that separate settlement proceeding.
If you are a U.S. Settlement Class Member, to be eligible to share in the distribution of the U.S. Net Settlement Fund, you must submit a U.S. Claim Form postmarked or submitted electronically no later than February 1, 2024. If you are a U.S. Settlement Class Member and do not timely submit a valid U.S. Claim Form, you will not be eligible to share in the distribution of the U.S. Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the U.S. Court relating to the Settlement, whether favorable or unfavorable.
If you are a U.S. Settlement Class Member and wish to exclude yourself from the U.S. Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the U.S. Notice such that it is received no later than January 18, 2024. If you properly exclude yourself from the U.S. Settlement Class, you will not be bound by any judgments or orders entered by the U.S. Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the U.S. Net Settlement Fund.
Any objections to the proposed Settlement, U.S. Plaintiff’s Counsel’s Fee and Expense Application, and/or the proposed U.S. Plan of Allocation must be filed with the U.S. Court, either by mail or in person, and be mailed to counsel for the U.S. parties in accordance with the instructions in the U.S. Notice, such that they are received no later than January 18, 2024.
PLEASE DO NOT CONTACT THE U.S. COURT, DEFENDANTS, OR DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.
Dated: November 27, 2023
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA
SOURCE: Faruqi & Faruqi, LLP