CLEVELAND, Dec. 18, 2023 (GLOBE NEWSWIRE) — The Rosen Law Firm, P.A. announces that the United States District Court for the Northern District of Ohio-Eastern Division has approved the following announcement of a proposed class action settlement that would benefit purchasers of Covia Holdings Corporation f/k/a Fairmount Santrol Holdings, Inc. securities (NYSE: CVIA, OTC: CVIAQ, and NYSE: FMSA):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
| TO: | ALL PERSONS WHO PURCHASED THE SECURITIES OF COVIA HOLDINGS CORPORATION F/K/A/ FAIRMOUNT SANTROL HOLDINGS, INC. (“COVIA”) FROM MARCH 10, 2016 THROUGH JUNE 29, 2020, BOTH DATES INCLUSIVE. |
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Ohio, that a hearing will be held on April 11, 2024, at 10:00 a.m. before the Honorable J. Philip Calabrese, United States District Judge of the United States District Court for the Northern District of Ohio, Carl B. Stokes U.S. Court House, 801 West Superior Avenue, Courtroom 16B, Cleveland, OH 44113, or by telephonic or videoconference means as directed by the Court, for the purpose of determining:
(1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $6,000,000 (“Settlement Amount”) should be approved by the Court as fair, reasonable, and adequate;
(2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate;
(3) whether the application of Lead Counsel for an award of attorneys’ fees of up one third of the Settlement Amount, reimbursement of expenses of not more than $95,000, and awards to Plaintiffs of no more than $25,000 total, should be approved; and
(4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement, dated October 25, 2023.
If you purchased Covia common stock, or purchased call options or sold put options on Covia common stock during the period from March 10, 2016 through June 29, 2020, both dates inclusive (“Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Covia securities.
If you have not received a postcard providing instructions for receiving a detailed Notice of Pendency and Proposed Settlement of Class Action (“Long Notice”) and a copy of the Proof of Claim and Release Form (“Proof of Claim”), you may obtain copies by writing to or calling Covia Holdings Corporation Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; [email protected], or going to the website, www.strategicclaims.net/CVIA. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a properly completed Proof of Claim electronically at www.strategicclaims.net/CVIA or postmarked no later than March 11, 2024 to the Claims Administrator, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.
If you desire to be excluded from the Settlement Class, you must submit a request for exclusion in the manner and form explained in the Long Notice to the Claims Administrator so that it is received no later than March 20, 2024. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action.
Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and an award to Plaintiffs must be in the manner and form explained in the Long Notice and received no later than March 20, 2024, by each of the following:
| Clerk of the Court United States District Court Northern District of Ohio Carl B. Stokes U.S. Court House 801 West Superior Avenue Cleveland, OH 44113 |
LEAD COUNSEL: THE ROSEN LAW FIRM, P.A. Phillip Kim 275 Madison Avenue, 40th Floor New York, NY 10016 |
COUNSEL FOR DEFENDANT: KIRKLAND & ELLIS LLP Gabor Balassa 300 North LaSalle Street Chicago, IL 60654 |
If you have any questions about the Settlement, you may call or write to Lead Counsel:
THE ROSEN LAW FIRM, P.A.
Phillip Kim
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: 212-686-1060
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: November 20, 2023
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
NORTHERN DISTRICT OF OHIO
