In re MSG Networks Inc Stockholder Class Action Litigation

UPDATE :

ON AUGUST 16, 2023 THE COURT ENTERED A FINAL ORDER AND JUDGMENT APPROVING THE SETTLEMENT. CLASS MEMBERS WILL BE PAID FROM THE NET SETTLEMENT FUND FOLLOWING THE CONCLUSION OF THE SETTLEMENT ADMINISTRATION PROCESS, WHICH WILL TAKE SEVERAL MONTHS. PLEASE BE PATIENT. CLASS MEMBERS DO NOT HAVE TO SUBMIT A CLAIM FORM OR TAKE ANY OTHER ACTION IN ORDER TO RECEIVE PAYMENT FROM THE SETTLEMENT.

The information contained on this web page is only a summary of information presented in more detail in the Notice of
Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional details.

Subject to Court approval, plaintiffs The City of Boca Raton Police and Firefighters’ Retirement System, Tim Stevens, Michael Cavaliere, Clint Murray, with Timothy Leisz, and their counsel, Chimicles Schwartz Kriner & Donaldson-Smith LLP, Grant & Eisenhofer P.A., Barrack, Rodos & Bacine, and Wolf Popper LLP (collectively, “Co-Lead Counsel”), on behalf of Plaintiffs and the Class, have reached a proposed settlement of the Action for $48,500,000 in cash (the “Settlement”).

If you are a member of the Class, your rights will be affected by this Settlement. The Class as certified by the Court consists of:

All Class A common stockholders of MSGN who received the Merger Consideration in connection with the Merger, together with their successors and assigns, excluding any Defendant, Defendants’ affiliates, legal representatives, heirs, successors in interest, transferees, and assigns.

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:

YOU DO NOT NEED TO SUBMIT A CLAIM FORM.

If you are a member of the Class, you are eligible to receive a pro rata distribution from the Net Settlement Fund. Class Members do not need to submit a claim form in order to receive a distribution from the Settlement, if approved by the Court. Your distribution from the Settlement will be paid to you directly.

YOU MAY OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN AUGUST 4, 2023.

You have the right, if you do not like the proposed Settlement or Plaintiffs’ Counsel’s request for attorneys’ fees and reimbursement of litigation expenses or for plaintiff service awards, to write to the Court and explain why you do not like it/them.

YOU MAY GO TO A HEARING ON AUGUST 14, 2023 AT 1:30 P.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN AUGUST 4, 2023.

Filing a written objection and notice of intention to appear that is received by August 4, 2023, allows you to speak in Court, at the discretion of the Court, about your objection. You may, but you do not have to, attend the hearing. The Court will consider the objection whether or not you attend.

Please read the Notice carefully. If you have questions, you may call the MSG Networks Inc. Stockholder Litigation Help Line at 1-877-390-3520 or email info@MSGNStockholderLitigation.com