Patricia Lowry v. RTI Surgical Holdings, Inc.

You or someone in your family may have purchased or otherwise acquired RTI Surgical Holdings, Inc. common stock during the period from March 7, 2016, through March 27, 2020, inclusive.

The Court directed that the Notice be sent to Class Members because they have a right to know about the proposed Settlement of this class action lawsuit, and about all of their options, before the Court decided whether to approve the Settlement. The Court has now approved the Settlement, and after objections and appeals are resolved, an administrator appointed by the Court will make the payments that the Settlement allows.

The Notice explains the lawsuit, the Settlement, Class Members’ legal rights, what benefits are available, who is eligible for them, and how to get them.

In a class action, one or more persons or entities (in this case, Lead Plaintiff), sue on behalf of people and entities who have similar claims. Together, these people and entities are a “class” and each is a “class member”. Class actions allow the adjudication of many individuals’ similar claims that might be too small economically to bring as individual actions. One court resolves the issues for all class members at the same time, except for those who exclude themselves, or “opt-out,” from the class.

The Court did not finally decide in favor of Plaintiffs or Defendants. Instead, both sides agreed to a settlement. That way, they avoid the risks and cost of a trial. Plaintiffs and their attorneys think the Settlement is in the best interest of the Settlement Class.

The Court directed, for the purposes of the proposed Settlement, that everyone who fits this description is a Class Member and subject to the Settlement unless they are an excluded person or take steps to exclude themselves from the Settlement Class:

All persons and entities that purchased, or otherwise acquired RTI Surgical Holdings, Inc. common stock during the period from March 7, 2016, through March 27, 2020, inclusive and were damaged thereby, except for certain persons and entities who are excluded from the Settlement Class.

If one of your mutual funds purchased RTI Surgical Holdings, Inc. during the Class Period, that does not make you a Class Member, although your mutual fund may be. You are a Class Member only if you individually purchased or acquired RTI Surgical Holdings, Inc. during the Class Period. RTI Surgical Holdings, Inc. may be referred to by the ticker symbol “RTIX” in your trading documentation.

Yes. There are some individuals and entities who are excluded from the Settlement Class by definition. Excluded from the Class are:

1. Defendants;
2. any person who was an officer or director of the Company and/or RTI Surgical Holdings, Inc. during the Class Period;
3. the Company’s and/or RTI Surgical Holdings, Inc.’s affiliates and subsidiaries;
4. members of the immediate family of each Individual Defendant;
5. any entity in which any Defendant has or had a controlling interest during the Class Period; and
6. the legal representatives, heirs, successors or assigns of any excluded person or entity, in their capacities as such.

Also excluded from the Settlement Class is anyone who timely and validly sought exclusion from the Settlement Class in accordance with the procedures described in FAQ 11.

In exchange for the Settlement and the release of the Released Plaintiffs’ Claims against the Released Defendant Parties (see FAQ 10), RTI agreed to pay $10,500,000.00 into an escrow account, which, along with any interest earned, was distributed after deduction of Court-awarded attorneys’ fees and litigation expenses, Notice and Administration Expenses, Taxes (including Indian taxes, if any) and Tax Expenses, and any other fees or expenses approved by the Court (the “Net Settlement Fund”), to eligible Class Members. The Plan of Allocation is described in more detail on pages 10-14 of the Notice.

Payments commenced to Authorized Claimants on October 5, 2022. If you have questions about your payment, please contact the Settlement Administrator at 1-877-891-7880 or email to info@RTISecuritiesSettlement.com.

The deadline to submit a claim was January 14, 2022.

Payments commenced to Authorized Claimants on October 5, 2022. If you have questions about your payment, please contact the Settlement Administrator at 1-877-891-7880 or email to info@RTISecuritiesSettlement.com.

Unless you excluded yourself, you remained in the Settlement Class, which means that upon the “Effective Date” of the Settlement, you released all “Released Plaintiff’s Claims” against the “Released Defendant Parties.” For additional information and a definition of these terms, please review Question 10 of the Notice.

The deadline to exclude yourself was January 14, 2022.

The deadline to exclude yourself was January 14, 2022.

No, only Class Members were eligible to recover money from the Settlement.

Pomerantz LLP and Roche Freedman LLP, Co-Lead Counsel, represent all Class Members in this Action. You will not be separately charged for these lawyers. The Court determins the amount of attorneys’ fees and expenses.

Lead Counsel will apply to the Court for attorneys’ fees not to exceed 33% of the Settlement Amount, and reimbursement of expenses not to exceed $100,000. If the amount requested by counsel is approved by the Court, the average cost of fees would be approximately $0.10 per share. In addition, a Compensatory Award for the time and expenses incurred by the Lead Plaintiff will be requested, not to exceed $5,000.

The deadline to submit objections was January 10, 2022.

Objecting is telling the Court that you do not like something about the proposed Settlement, Plan of Allocation, or Lead Counsel’s Fee and Expense Application. You could still recover money from the Settlement. You could object only if you remained in the Settlement Class. Excluding yourself is telling the Court that you do not want to be part of the Settlement Class. If you excluded yourself from the Settlement Class, you had no basis to object because the Settlement and the Action no longer affected you.

The Final Approval Hearing was held on January 24, 2022. The Court approved the Settlement, the Plan of Allocation, and Lead Counsel's motion for an award of attorneys' fees and reimbursement of Litigation Expenses.

The Final Approval Hearing was held on January 24, 2022. The Court approved the Settlement, the Plan of Allocation, and Lead Counsel's motion for an award of attorneys' fees and reimbursement of Litigation Expenses.

If you did nothing and you are a member of the Settlement Class, you will receive no money from this Settlement and you will be precluded from starting a lawsuit, continuing with a lawsuit, or being part of any other lawsuit against Defendants and the other Released Defendant Parties concerning the Released Plaintiff’s Claims. To share in the Net Settlement Fund, you must have submitted a Claim Form. To start, continue, or be a part of any other lawsuit against Defendants and the other Released Defendant Parties concerning the Released Plaintiff’s Claims, you must have excluded yourself from the Settlement Class.

The Settlement Amount, and any interest it earns, is called the “Settlement Fund.” The Settlement Fund, after deduction of Court-approved attorneys’ fees and expenses, Notice and Administration Expenses, Taxes, and any other fees or expenses approved by the Court is the “Net Settlement Fund.” The Net Settlement Fund was distributed according to the Plan of Allocation (described in the Notice) to members of the Settlement Class who timely submitted valid Claim Forms that showed a Recognized Claim according to the Plan of Allocation approved by the Court. Class Members who did not timely submit valid Claim Forms will not share in the Net Settlement Fund, but will still be bound by the terms of the Settlement and what happens in the Action.

The Plan of Allocation is on pages 3-6 of the Notice, found here.

The CUSIP for the Class Period is 74975N105. The ticker symbol from March 7, 2016, through March 27, 2020 was RTIX.