ATTENTION ALL SETTLEMENT CLASS MEMBERS: The Distribution Plan was approved per the Court's Order dated September 15, 2022 (“Class Distribution Order”, ECF No. 111). The initial distribution commenced on September 23, 2022 and payments have been made to all authorized Claimants.
The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action, Certification of Settlement Class, and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
The Notice relates to an approved Settlement of claims in a securities class action brought by investors alleging, among other things, that defendants Eagle, Ronald D. Paul (“Paul”), Susan G. Riel (“Riel”), Charles D. Levingston (“Levingston”), James H. Langmead (“Langmead”), and Laurence E. Bensignor (“Bensignor”) (collectively, the “Defendants”) violated the federal securities laws by making false and misleading statements regarding Eagle. A more detailed description of the Action is set forth in paragraphs 11-22 in the Notice. The Settlement, settled claims of the Settlement Class, as defined in paragraph 23 in the Notice.
Plaintiffs, on behalf of themselves and the Settlement Class, have agreed to settle the Action in exchange for a settlement payment of $7,500,000 in cash (the “Settlement Amount”) be deposited into an escrow account. The Net Settlement Fund (i.e., the Settlement Amount plus any and all interest earned thereon (the “Settlement Fund”) less (a) any Taxes, (b) any Notice and Administration Costs, (c) any Litigation Expenses awarded by the Court, and (d) any attorneys’ fees awarded by the Court) have been distributed in accordance with a plan of allocation that is approved by the Court, which has determined how the Net Settlement Fund was allocated among members of the Settlement Class. The Court approved plan of allocation (the “Plan of Allocation”) is set forth on pages 12-20 in the Notice.
The Settlement Class consists of:
all persons and entities who or which purchased or otherwise acquired Eagle Common Stock and/or Eagle Call Options, and/or wrote Eagle Put Options between March 2, 2015 and July 17, 2019, inclusive (the “Settlement Class Period”), and were damaged thereby.
Payments have been made to all eligible claimants.
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice. If you have questions, you may contact the Claims Administrator by calling toll-free 1-833-677-1091; emailing info@EagleSecuritiesSettlement.com; or mailing a letter to:
Eagle Bancorp, Inc. Securities Litigation
c/o JND Legal Administration
P.O. Box 91107
Seattle, WA 98111
Inquiries should NOT be directed to the Court, the Clerk of the Court, Defendants, or their counsel.