SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK: COMMERCIAL DIVISION
JEFF KIRKLAND, ANTHONY FIORE, AND EMPLOYEES’ RETIREMENT SYSTEM OF THE PUERTO RICO ELECTRIC POWER AUTHORITY, Individually and on Behalf of All Others Similarly Situated,
WIDEOPENWEST, INC., STEVEN
COCHRAN, RICHARD E. FISH, JR., DAVID
FREDERICK BURGSTAHLER, BRIAN
CASSIDY, DANIEL KILPATRICK,
JEFFREY MARCUS, PHIL SESKIN,
JOSHUA TAMAROFF, AVISTA CAPITAL
PARTNERS, UBS SECURITIES LLC, CREDIT
SUISSE SECURITIES (USA) LLC, RBC
CAPITAL MARKETS, LLC, SUNTRUST
ROBINSON HUMPHREY, INC.,
EVERCORE GROUP L.L.C., MACQUARIE
CAPITAL (USA) INC., LIONTREE
ADVISORS LLC, AND RAYMOND JAMES
& ASSOCIATES, INC.,
Index No. 653248/2018
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED PUBLICLY LISTED OR PUBLICLY TRADED SHARES OF WIDEOPENWEST, INC. (“WOW” OR THE “COMPANY”) COMMON STOCK (TICKER SYMBOL: “WOW”) PURSUANT OR TRACEABLE TO THE OFFERING MATERIALS ISSUED IN CONNECTION WITH WOW’S MAY 2017 INITIAL PUBLIC OFFERING (“IPO”) AND WERE ALLEGEDLY DAMAGED THEREBY.
THIS NOTICE WAS AUTHORIZED BY THE COURT AND EXPLAINS HOW YOUR RIGHTS MAY BE AFFECTED BY A PROPOSED CLASS ACTION SETTLEMENT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.1
YOU ARE HEREBY NOTIFIED that a hearing will be held on January 20, 2022, at 2:15 p.m., before the Honorable Andrea Masley, J.S.C., Supreme Court of New York, County of New York: Commercial Division, 60 Centre Street, New York, NY 10007, to determine whether: (1) the proposed Settlement of the above-captioned action (the “Litigation”), as set forth in the Stipulation of Settlement (“Stipulation”), for $7,025,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment, as provided under the Stipulation, should be entered; (3) to grant final certification of a Settlement Class for purposes of the Settlement; (4) to award Plaintiffs’ Counsel attorneys’ fees and expenses out of the Settlement Fund, and, if so, in what amount; (5) to award Lead Plaintiff Awards out of the Settlement Fund for Lead Plaintiffs’ service on behalf of the Settlement Class or for Lead Plaintiffs’ reasonable time, costs, and expenses directly relating to the representation of the Settlement Class, and if so, in what amount; and (6) the Plan of Allocation should be approved by the Court. The Court may adjourn or continue the Settlement Hearing or hold the Settlement Hearing by telephonic or video conference without further notice to members of the Settlement Class. Any change to the Settlement Hearing date, time, or manner will be posted on the settlement website (www.WideOpenWestSecuritiesSettlement.com).
The Litigation is a consolidated securities class action against WOW, certain of its officers and directors, two private equity firms, and the underwriters for WOW’s May 2017 IPO (collectively, “Defendants”) for making allegedly untrue statements of material fact in the Registration Statement and Prospectus, filed with the U.S. Securities & Exchange Commission in connection with WOW’s IPO (the “Offering Materials”), or omitting to state material facts required to be stated therein or necessary to make the statements therein not misleading.
The Settlement was reached on behalf of all Persons who purchased or otherwise acquired publicly listed or publicly traded shares of WOW common stock pursuant or traceable to the Offering Materials issued in connection with WOW’s IPO and were damaged thereby (the “Settlement Class”).
IF YOU PURCHASED OR OTHERWISE ACQUIRED WOW COMMON STOCK (TICKER SYMBOL: “WOW”) pursuant or traceable to THE offering materials ISSUED IN CONNECTION WITH WOW’S IPO, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THE LITIGATION.
To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form so that it is postmarked (for U.S. Mail) or received by the private carrier (for FedEx, UPS, etc.) no later than December 30, 2021. Your failure to submit your Proof of Claim and Release by December 30, 2021, will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of the Litigation. If you are a Settlement Class Member and do not submit a Request for Exclusion from the Settlement, you will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment and the full and final release of all Released Claims as against the Released Defendant Parties, whether or not you submit a Proof of Claim and Release.
This Summary Notice provides only a summary of matters regarding the Litigation and the Settlement. If you have not received a copy of the Notice of Proposed Settlement of Class Action (“Notice”), which more completely describes the Settlement and your rights thereunder (including your right to object to or exclude yourself from the Settlement), and a Proof of Claim and Release, you may obtain these documents, as well as a copy of the Stipulation and other settlement documents, online at www.WideOpenWestSecuritiesSettlement.com, or by writing to:
WOW Securities Litigation Settlement
c/o A.B. Data, Ltd.
P.O. Box 173126
Milwaukee, WI 53217
Inquiries should NOT be directed to the Defendants, the Court, or the Clerk of the Court. Inquiries, other than requests for the Notice or a Proof of Claim and Release, may be made to Lead Counsel at:
SCOTT+SCOTT ATTORNEYS AT LAW LLP
William C. Fredericks
The Helmsley Building
230 Park Avenue, 17th Floor
New York, NY 10169
Telephone: (800) 404-7770
IF YOU DESIRE TO BE EXCLUDED FROM THE SETTLEMENT CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED (FOR U.S. MAIL) OR RECEIVED BY THE PRIVATE CARRIER (FOR FEDEX, UPS, ETC.) NO LATER THAN DECEMBER 29, 2021, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. ALL MEMBERS OF THE SETTLEMENT CLASS WHO HAVE NOT TIMELY REQUESTED EXCLUSION FROM THE SETTLEMENT CLASS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A PROOF OF CLAIM AND RELEASE.
IF YOU ARE A SETTLEMENT CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, PLAN OF ALLOCATION, REQUEST BY PLAINTIFFS’ COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES AND EXPENSES, AND/OR AWARD(S) TO LEAD PLAINTIFFS FOR REPRESENTING THE SETTLEMENT CLASS. ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL AND DEFENDANTS’ COUNSEL SUCH THAT IT IS POSTMARKED (FOR U.S. MAIL) OR RECEIVED BY THE PRIVATE CARRIER (FOR FEDEX, UPS, ETC.) NO LATER THAN DECEMBER 29, 2021, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.
DATED: SEPTEMBER 6, 2021 BY ORDER OF THE SUPREME COURT OF
NEW YORK, COUNTY OF NEW YORK:
THE HONORABLE ANDREA MASLEY, J.S.C.