Shareholders v Shuffle Master, Inc.
Summary Notice of Proposed Settlement of Class Action and Hearing for In Re Shuffle Master, Inc.
The following statement is being issued by Grant & Eisenhofer P.A. pursuant to an order of the United States District Court, District of Nevada:
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA
In Re Shuffle Master, Inc. Securities Litigation
No. 2:07-cv-00715-KJD-RJJ
CLASS ACTION
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION AND HEARING ON PROPOSED SETTLEMENT
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR ACQUIRED SHUFFLE MASTER, INC. COMMON STOCK BETWEEN AND INCLUDING FEBRUARY 1, 2006 AND MARCH 12, 2007 (THE “CLASS PERIOD”), AND WHO WERE DAMAGED THEREBY (THE “CLASS”)
YOU ARE HEREBY NOTIFIED that the Plaintiffs in the above-captioned class action (the “Action”) have reached a proposed settlement with Defendants Shuffle Master, Inc. (“Shuffle Master”), Mark Yoseloff and Richard L. Baldwin (collectively “Defendants”) whereby (1) Defendants’ insurers will cause a total of $13,000,000 to be paid out of insurance proceeds available to them into a Settlement Fund, for the benefit of the Class, and (2) the Class members will dismiss and release certain claims against Defendants arising out of or related to the subject matter of the Action or any transactions in the above-referenced securities of Shuffle Master during the Class Period.
A hearing will be held on May 4, 2010, at 9:00 a.m., before the Honorable Kent J. Dawson in the United States District Court for the District of Nevada, Lloyd D. George United States Courthouse, 333 South Las Vegas Blvd., Las Vegas, NV 89101, to determine (1) whether the Settlement should be approved as fair, reasonable and adequate; (2) whether the Action should be dismissed with prejudice against Defendants and all claims against Defendants released; and (3) whether the application submitted by Lead Counsel for attorneys’ fees, if any, should be granted.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUNDS. If you have not yet received the full printed Notice of Proposed Settlement of Class Action and Hearing, you may obtain one by calling the Claims Administrator toll-fee at 877-234-7391 or contacting the Claims Administrator at:
In re Shuffle Master, Inc. Securities Litigation
c/o Gilardi & Co. LLC
P.O. Box 8040
San Rafael, CA 94912-8040
To participate in the Settlement, you will be required to submit a Proof of Claim and Release form for the Action. You may download the Proof of Claim and Release form at www.gilardi.com/shufflemaster, or you may request a copy of the Proof of Claim and Release form by sending your request to the Claims Administrator at the address above or by calling the In re Shuffle Master, Inc. Securities Litigation Helpline at 877-234-7391.
For information contact:
Ralph N. Sianni
GRANT & EISENHOFER P.A.
1201 North Market Street
Wilmington, DE 19801
