FTSI FTS International Inc

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the FTS International, Inc. Securities Settlement:

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION

CAROL GLOCK, Individually and

 

§

 

Civil Action No. 4:20-cv-03928

on Behalf of All Others Similarly Situated,

 

§

 

Judge: Lee H. Rosenthal

Plaintiff,

 

§

 

SUMMARY NOTICE

vs.

 

§

 

FTS INTERNATIONAL, INC., et al.,

 

§

 

Defendants.

 

§

 

TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED FTS INTERNATIONAL, INC. (“FTSI” OR THE “COMPANY”) PUBLICLY TRADED COMMON STOCK IN OR TRACEABLE TO THE COMPANY’S FEBRUARY 2, 2018 INITIAL PUBLIC OFFERING (“IPO”), INCLUDING ALL PERSONS WHO PURCHASED OR ACQUIRED FTSI COMMON STOCK ON OR AFTER FEBRUARY 2, 2018 (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 that pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of Texas, Houston Division, the above-captioned action (the “Litigation”) has been provisionally certified as a class action on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full printed Notice of Pendency and Proposed Settlement of Class Action (the “Notice”).

YOU ARE ALSO NOTIFIED that Lead Plaintiff in the Litigation, Carol Glock, on behalf of herself and the other Settlement Class Members, has reached a proposed settlement of the Litigation with Defendants FTS International, Inc., Michael J. Doss, Lance Turner, Goh Yong Siang, Boon Sim, Domenic J. Dell’Osso, Jr., Bryan J. Lemmerman, Ong Tiong Sin, Carol J. Johnson, Maju Investments (Mauritius) Pte Ltd, Credit Suisse Securities (USA) LLC, and Morgan Stanley & Co. LLC (collectively, “Defendants”) for the sum of $9,875,000 in cash (the “Settlement”). If the Settlement is approved, it will resolve all claims in the Litigation.

A hearing will be held on April 12, 2021, at 10:00 a.m. CT, before the Honorable Lee H. Rosenthal at the Bob Casey United States Courthouse, 515 Rusk Avenue, Houston, TX 77002, for the purpose of determining: (1) whether the proposed Settlement should be approved by the Court as fair, reasonable and adequate; (2) whether, thereafter, this Litigation should be dismissed with prejudice against the Defendants as set forth in the Stipulation of Settlement dated November 19, 2020; (3) whether the Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; and (4) the reasonableness of the application of Lead Counsel for the payment of attorneys’ fees and expenses incurred in connection with this Litigation, together with interest thereon (which request may include an award to Lead Plaintiff pursuant to the Private Securities Litigation Reform Act of 1995).

IF YOU PURCHASED OR ACQUIRED FTSI PUBLICLY TRADED COMMON STOCK IN OR TRACEABLE TO THE COMPANY’S FEBRUARY 2, 2018 IPO, INCLUDING PURCHASES OR ACQUISITIONS ON OR AFTER FEBRUARY 2, 2018, YOUR RIGHTS MAY BE AFFECTED BY THIS LITIGATION AND THE SETTLEMENT THEREOF. If you have not received a detailed Notice as referred to above and a copy of the Proof of Claim and Release form, you may obtain copies by writing to FTSI Securities Settlement, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 43314, Providence, RI 02940-3314, or by downloading this information at www.FTSISecuritiesSettlement.com. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release online at www.FTSISecuritiesSettlement.com by March 22, 2021, or by mail postmarked no later than March 22, 2021, establishing that you are entitled to a recovery. You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, received by March 22, 2021.

If you purchased or otherwise acquired FTSI publicly traded common stock in or traceable to the Company’s February 2, 2018 IPO, including purchases or acquisitions on or after February 2, 2018, and you desire to be excluded from the Settlement Class, you must submit a request for exclusion such that it is received no later than March 22, 2021, in the manner and form explained in the detailed Notice referred to above. All Members of the Settlement Class who do not validly request exclusion from the Settlement Class will be bound by any judgments or orders entered in the Litigation pursuant to the Stipulation of Settlement.

Any objection to any aspect of the Settlement must be filed with the Clerk of the Court and also delivered by hand or First-Class Mail to each of the following addresses such that it is received no later than March 1, 2021:

 

COURT:

 

 

UNITED STATES DISTRICT COURT

 

 

SOUTHERN DISTRICT OF TEXAS

 

 

HOUSTON DIVISION

 

 

Bob Casey United States Courthouse

 

 

515 Rusk Avenue

 

 

Houston, TX  77002

 

 

 

 

 

LEAD COUNSEL:

 

 

ROBBINS GELLER RUDMAN & DOWD LLP

 

 

THEODORE J. PINTAR

 

 

655 West Broadway, Suite 1900

 

 

San Diego, CA  92101

 

 

 

 

 

SETTLING DEFENDANTS’ COUNSEL:

 

 

BAKER BOTTS L.L.P.

 

 

JESSICA B. PULLIAM

 

 

2001 Ross Avenue, Suite 900

 

 

Dallas, TX  75201

 

 

 

 

 PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. 

DATED: December 8, 2020

BY ORDER OF THE COURT

 

UNITED STATES DISTRICT COURT

 

SOUTHERN DISTRICT OF TEXAS

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20201229005010/en/

Robbins Geller Rudman & Dowd LLP Shareholder Relations Rick Nelson 1-619-231-1058