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Glancy Prongay & Murray LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Horsehead Holding Corp.

/EIN News/ -- WILMINGTON, Del., Feb. 23, 2021 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP announces that the United States District Court for the District of Delaware has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities of Horsehead Holding Corp. Horsehead securities include common stock (CUSIP #440694305); 3.8% convertible senior notes (CUSIP #440694AB3); 10.50% senior secured notes (CUSIPs   #440694AC1, #440694AE7 and #440694AF4); and 9% senior unsecured notes (CUSIP # 440694AG2).            

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND LITIGATION EXPENSES

To: All persons and entities who purchased Horsehead Holdings Corp. (“Horsehead”) securities (CUSIPs #440694305, #440694AB3, #440694AC1, #440694AE7, #440694AF4 and #440694AG2) during the period from February 25, 2014 through February 2, 2016, both dates inclusive (the “Class Period”)1:

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. 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 Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of Delaware (the “Court”), that the above-captioned securities class action (the “Action”) is pending in the Court.

YOU ARE ALSO NOTIFIED that Class Plaintiffs in the Action, on behalf of themselves and the Settlement Class, have reached a proposed settlement of the Action for $14.75 million in cash (the “Settlement”). If approved, the Settlement will resolve all claims in the Action.

A hearing (the “Settlement Hearing”) will be held at 1:00 p.m. ET, on June 4, 2021, in the Courtroom of the Honorable Leonard P. Stark at the United States District Court for the District of Delaware, J. Caleb Boggs Federal Building, 844 N King Street, Wilmington, DE 19801, to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated January 5, 2021 (and in the Notice) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys’ fees and expenses should be approved. In the event that there are any changes to the time, date, or method of the Settlement Hearing, such changes will be posted on the Settlement website at www.horseheadlitigation.com.

If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Net Settlement Fund. If you have not yet received the Notice and Proof of Claim and Release form (“Claim Form”), you may obtain copies of these documents by contacting the Claims Administrator at: Horsehead Settlement, c/o Strategic Claims Services, 600 N. Jackson St, Suite 205, P.O. Box 230, Media, PA 19063; fax: (610) 565-7985; email: claims@horseheadlitigation.com. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.horseheadlitigation.com.

If you are a member of the Settlement Class, in order to be eligible to receive a payment from the Settlement, you must submit a Claim Form to the Claims Administrator postmarked no later than May 28, 2021, or submitted electronically through the online filing system at www.horseheadlitigation.com no later than 11:59 p.m. EST on May 28, 2021. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to receive a payment from the Settlement, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion postmarked no later than May 14, 2021, by the Claims Administrator, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to receive a payment from the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel's motion for attorneys’ fees and expenses must be filed with the Court and delivered to Lead Counsel and Defendants’ Counsel such that they are received no later than May 28, 2021, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Office of the Clerk of the Court, Defendants, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to the Claims Administrator or Lead Counsel.

Requests for the Notice and Claim Form should be made to:

Horsehead Settlement
c/o Strategic Claims Services
600 N. Jackson St., Suite 205
Media, PA 19063
Toll-Free: (866) 274-4004
Fax: (610) 565-7985
claims@horseheadlitigation.com

Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:

GLANCY PRONGAY & MURRAY LLP
Gregory B. Linkh
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Tel: (310) 201-9150

By Order of the Court

1 Certain persons and entities are excluded from the Settlement Class by definition, as set forth in the full Notice of Pendency and Proposed Settlement of Class Action (the “Notice”), available at www.horseheadlitigation.com.