Pomerantz LLP and Hagens Berman Sobol Shapiro LLP Announce Proposed Class Action Settlement on Behalf of Purchasers of Blink Charging Company Securities - BLNK
MIAMI, Aug. 19, 2024 /PRNewswire/ -- Pomerantz LLP and Hagens Berman Sobol Shapiro LLP announce that the United States District Court for the Southern District of Florida-Miami Division has approved the following announcement of a proposed class action settlement that would benefit purchasers of Blink Charging Company securities (NASDAQ: BLNK):
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
MIAMI DIVISION
No. 20-23527-civ-WILLIAMS/TORRES
RICHARD M. BUSH, Individually and
On Behalf of All Others Similarly Situated,
Plaintiff,
v.
BLINK CHARGING COMPANY, MICHAEL
D. FARKAS, and MICHAEL P. RAMA,
Defendants.
SUMMARY NOTICE
TO: All persons and entities that purchased or otherwise acquired Blink Charging Company securities between March 6, 2020 and August 19, 2020, inclusive, and were damaged thereby[1] (the "Settlement Class"):
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 an Order of the United States District Court for the Southern District of Florida, that a hearing will be held on October 23, 2024 at 10:00 a.m., before the Honorable Kathleen M. Williams at the United States District Court for the Southern District of Florida, Wilkie D. Ferguson, Jr. U.S. Courthouse, Courtroom 11-3, 400 North Miami Avenue, Miami, FL 33128, or via Zoom or some other video platform, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for the sum of $3,750,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed Plan of Allocation to distribute the Settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (3) whether the application of Lead Counsel for an award of attorneys' fees and Litigation Expenses, including interest earned thereon, and awards to Plaintiffs, from the Settlement Fund, should be approved.
The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means. The Court appointed Pomerantz LLP and Hagens Berman Sobol Shapiro LLP as Lead Counsel to represent you and the other Settlement Class Members. However, you have the right to retain your own counsel and the right to appear at the Settlement Hearing through counsel of your choosing.
If you purchased or otherwise acquired Blink Charging Co. securities between March 6, 2020 and August 19, 2020, both dates inclusive, your rights may be affected by this Settlement. As further described in the Notice of Pendency and Proposed Settlement of Class Action ("Notice"), you will be bound by any Judgment entered in the Action, whether or not you make a claim, unless you request exclusion from the Settlement Class.
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 Settlement Fund. The Notice and Proof of Claim and Release Form ("Claim Form") can be downloaded from the website maintained by the Claims Administrator, www.strategicclaims.net/blink/ ("Settlement Website"). You may also obtain copies of the Notice and Claim Form by contacting the Claims Administrator at Blink Charging Co. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 205, Media, PA 19063, 1-866-274-4004.
If you are a member of the Settlement Class, you must submit a Claim Form postmarked to the Claims Administrator, or online at the Settlement Website, no later than December 4, 2024 in order to be eligible to receive a payment under the proposed Settlement. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of 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 such that it is received no later than October 2, 2024 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 share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees, reimbursement of Litigation Expenses, and awards to Plaintiffs, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than October 2, 2024, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Blink Charging Co. or any of the other 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 Lead Counsel or the Claims Administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
POMERANTZ LLP
Brenda Szydlo, Esq.
600 Third Avenue, 20th Floor
New York, NY 10016
212-661-1100
bszydlo@pomlaw.com
HAGENS BERMAN SOBOL SHAPIRO LLP
Reed Kathrein, Esq.
715 Hearst Avenue, Suite 300
Berkeley, CA 94710
510-725-3000
reed@hbsslaw.com
Requests for the Notice and Claim Form should be made to:
Blink Charging Co. Securities Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson Street, Suite 205
Media, PA 19063
866-274-4004
www.strategicclaims.net/blink/
Dated: July 9, 2024
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF FLORIDA
1 All capitalized terms used in this Summary Notice that are not otherwise defined herein shall have the meanings ascribed to them in the Stipulation and Agreement of Settlement dated June 28, 2024 (the "Stipulation"), which is available at www.strategicclaims.net/blink/.
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