Motley Rice LLC and Robbins Geller Rudman & Dowd LLP Announce Proposed Class Action Settlement on Behalf of Purchasers of 3D Systems Corporation Common Stock

MOUNT PLEASANT, S.C.--()--The following statement is being issued by Motley Rice LLC and Robbins Geller Rudman & Dowd LLP in regard to a proposed class action settlement.

UNITED STATES DISTRICT COURT
DISTRICT OF SOUTH CAROLINA
ROCK HILL DIVISION

KBC ASSET MANAGEMENT NV, Individually and on Behalf of All Others Similarly Situated,

 

Plaintiff,

 

vs.

 

3D SYSTEMS CORPORATION, ABRAHAM N. REICHENTAL, DAMON J. GREGOIRE, and TED HULL,

 

Defendants.

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Civil Action No. 0:15-cv-02393-MGL

 

CLASS ACTION

TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED 3D SYSTEMS CORPORATION (“3D SYSTEMS”) COMMON STOCK DURING THE PERIOD FROM OCTOBER 29, 2013, THROUGH AND INCLUDING MAY 5, 2015 (THE “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 District of South Carolina, that the above-captioned action (the “Litigation”) has been certified as a class action on behalf of the Class, except for certain persons and entities who are excluded from the Class by definition as set forth in the full printed Notice of Proposed Settlement of Class Action (the “Notice”).

YOU ARE ALSO NOTIFIED that Lead Plaintiff in the Litigation, KBC Asset Management NV, on behalf of itself and the other members of the Class, has reached a proposed settlement of the Litigation with defendants 3D Systems, Abraham N. Reichental, Damon J. Gregoire, and Theodore A. Hull (collectively, “Defendants”) for the sum of $50,000,000 in cash (the “Settlement”). If the Settlement is approved, it will resolve all claims in the Litigation.

A hearing will be held on June 25, 2018, at 11:00 a.m. ET, before the Honorable Mary Geiger Lewis at the Matthew J. Perry, Jr. Courthouse, 901 Richland Street, Columbia, SC 29201, 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 February 14, 2018; (3) whether the Plan of Allocation of settlement proceeds 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 a request for reimbursement of Lead Plaintiff’s reasonable costs and expenses pursuant to the Private Securities Litigation Reform Act of 1995).

IF YOU PURCHASED OR ACQUIRED 3D SYSTEMS COMMON STOCK DURING THE PERIOD FROM OCTOBER 29, 2013, THROUGH AND INCLUDING MAY 5, 2015 (THE “CLASS PERIOD”), 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 3D Systems Securities Settlement, Claims Administrator, P.O. Box 3170, Portland, OR 97208-3170, or by downloading this information at www.3DSystemsSecuritiesSettlement.com. If you are a 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.3DSystemsSecuritiesSettlement.com by July 11, 2018, or by mail postmarked no later than July 11, 2018, 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, postmarked by May 29, 2018.

If you purchased or otherwise acquired 3D Systems common stock during the Class Period and you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked no later than May 29, 2018, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who do not validly request exclusion from the 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 May 29, 2018:

COURT:
CLERK OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF SOUTH CAROLINA
MATTHEW J. PERRY, JR. COURTHOUSE
901 Richland Street
Columbia, SC 29201

LEAD COUNSEL:
ROBBINS GELLER RUDMAN & DOWD LLP
ELLEN GUSIKOFF STEWART
655 West Broadway, Suite 1900
San Diego, CA 92101

MOTLEY RICE LLC
JOSHUA LITTLEJOHN
28 Bridgeside Boulevard
Mt. Pleasant, SC 29464

DEFENDANTS’ COUNSEL:
ALSTON & BIRD
JOHN JORDAK
1201 West Peachtree Street, Suite 4900
Atlanta, GA 30309

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

DATED: February 20, 2018     BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT

DISTRICT OF SOUTH CAROLINA

Contacts

Motely Rice LLC
Laura Thompson, Communications Manager
843-216-9315

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