WILMINGTON, Del., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Rosca Scarlato, LLC 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 Vida Longevity Fund, LP limited partnership interests:
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR ATTORNEYS’ FEES AND LITIGATION EXPENSES
| TO: | All persons and entities who, during the period from January 1, 2017 through March 19, 2021, inclusive (the “Class Period”), purchased or otherwise acquired limited partnership interests in Vida Longevity Fund, LP (“VLF”), either directly, or indirectly through Life Assets Trust S.A. Compartments VII and/or VIII.¹ |
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 the Plaintiffs have reached a proposed settlement of the Action for $1,400,000 in cash (the “Settlement”), which, if approved, will resolve all claims in the Action.
A hearing will be held on April 18, 2023, at 1:00 p.m. (ET), before Magistrate Judge Sherry R. Fallon, either in-person at the United States District Court for the District of Delaware, J. Caleb Boggs Federal Building, 844 North King Street, Wilmington, Delaware 19801-3555, or by telephone or videoconference, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether, solely for purposes of the Settlement, the Action should be certified as a class action on behalf of the Class, Plaintiffs should be certified as representatives for the Class, and Plaintiffs’ counsel should be appointed as counsel for the Class; (iii) whether the Action should be dismissed with prejudice against Defendants and whether the releases specified in the Settlement Agreement dated July 8, 2022 (and in the Notice) should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Plaintiffs’ Counsel’s motion for an award of attorneys’ fees and expenses and Plaintiffs’ application for an Incentive Award should be approved. If the hearing is held by telephone or videoconference, information on how to participate will be posted at www.strategicclaims.net/VLF.
If you are a Class Member, your rights will be affected by the pending Action and the Settlement, and you might be entitled to a payment from the Settlement. If you have not yet received the Notice and Claim Form, you may get copies of them by contacting the Claims Administrator, VLF Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 205, Media, PA 19063; telephone 1‑866-274-4004; or info@strategicclaims.net. You also can file claims online or download copies of the Notice and Claim Form from the Settlement website, www.strategicclaims.net/VLF.
If you are a Class Member, you must file a claim online or submit a Claim Form no later than March 21, 2023 to be eligible to receive a payment from the Settlement. If you are a Class Member and do not submit a proper Claim Form, you will not be eligible for a payment, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a Class Member and wish to exclude yourself from the Class, you must submit a request for exclusion that is received no later than March 21, 2023, in accordance with the instructions in the Notice. If you properly exclude yourself from the 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. Excluding yourself is the only option that might allow you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlement, even if you have pending or later file another lawsuit or other proceeding against the Releasees related to the claims covered by the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, Plaintiffs’ Counsel’s motion for attorneys’ fees and litigation expenses, and Plaintiffs’ application for an Incentive Award must be filed with the Court and delivered to Plaintiffs’ counsel and Defendants’ Counsel such that they are received no later than March 21, 2023, in accordance with the instructions in the Notice.
All questions about this notice, the Settlement, or your eligibility to participate in it should be directed to the Claims Administrator or Plaintiffs’ counsel. Please do not contact the Court, the Clerk’s office, Defendants, or their lawyers about this notice.
Requests for the Notice and Claim Form should be made to:
VLF Securities Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson Street, Suite 205
Media, PA 19063
Tel.: 866-274-4004
Fax: 610-565-7985
Email: info@strategicclaims.net
www.strategicclaims.net/VLF
Inquiries other than requests for the Notice and Claim Form should be made to counsel for the Class:
ROSCA SCARLATO, LLC
Alan L. Rosca, Esq.
2000 Auburn Drive, Suite 200
Beachwood, OH 44122
Tel: 216-946-7070
arosca@rscounsel.law
By Order of the Court
¹ Certain persons and entities are excluded from the Class definition, as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (the “Notice”), available at www.strategicclaims.net/VLF.
