Update on the Distribution of the Net Settlement Fund
The Court has approved the distribution of the Net Settlement Fund to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following date:
July 15, 2022
If you submitted a Claim in this case and have any questions related to that Claim, please contact the Claims Administrator whose contact information is listed here below:
The information contained on this website is only a summary of the information presented in more detail in the Notice of Proposed Settlement of Class and Derivative Action, Settlement Hearing, and Right to Appear. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
Plaintiffs K-Bar Holdings LLC and Wynnefield Capital, Inc. (together, “Plaintiffs”), on behalf of themselves and each of the Class Members and derivatively on behalf of the Company, have reached a proposed settlement of the above-captioned consolidated class and derivative action (the “Action”) in exchange for a cash payment of $12 million (the “Cash Settlement Amount”) and certain non-monetary benefits as described in paragraphs 31-38 of the Notice (the “Settlement”). On October 13, 2020, the Delaware Court of Chancery (the “Court”), finally approved the Settlement, thereby resolving all claims in the Action. Defendants have denied and continue to deny the allegations asserted against them in the Action.
Pursuant to the Settlement, the Cash Settlement Amount will be deposited into an escrow account. The Cash Settlement Amount, plus all interest earned thereon (the “Cash Settlement Fund”), less (i) any Taxes; (ii) any Administration Costs; and (iii) any Cash Settlement Fund Award (the “Net Cash Settlement Fund”) will be distributed to eligible Class Members pursuant to the Court-approved plan of allocation set forth in paragraphs 44-47 of the Notice (the “Plan of Allocation”).
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the Settlement.
Please read the Notice to fully to understand your rights and options.
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice. If you have questions, you may contact the Claims Administrator by calling toll-free 1-877-313-0184; emailing info@TileShopStockholderLitigation.com; or mailing a letter to:
Tile Shop Stockholder Litigation
c/o JND Legal Administration
P.O. Box 91376
Seattle, WA 98111
Inquiries should NOT be directed to the Court, the Clerk of the Court, Defendants, or their counsel.