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”). If approved by the Delaware Court of Chancery (the “Court”), the Settlement will resolve all claims in the Action. Defendants have denied and continue to deny these allegations.
Pursuant to the Settlement, a total of $12 million in cash (the “Cash Settlement Amount”) will be deposited into an escrow account (the “Settlement 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 proposed plan of allocation set forth in paragraphs 44-47 of the Notice (the “Plan of Allocation”) or such other plan of allocation as may be ordered by the Court.
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the Settlement.
The Class consists of:
(1) All record and beneficial holders of Tile Shop Holdings, Inc. (“Tile Shop” or the “Company”) common stock as of October 18, 2019 (the “Settlement Class”) and (2) all holders of Tile Shop common stock as of June 30, 2020 (“Current Stockholders”).
Please read the Notice to fully to understand your rights and options.
If you are a member of the Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form with adequate supporting documentation postmarked no later than January 8, 2021.
Payments to eligible claimants will be made only after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|OCTOBER 2, 2020
||Objection Deadline. Claim Forms must be received on or before October 2, 2020 to object to the Settlement, the proposed Plan of Allocation, or Lead Counsel’s application for attorneys’ fees, expenses, and incentive awards.
|OCTOBER 12, 2020 at 1:30 pm
|JANUARY 8, 2021
||Claim Filing Deadline. Claim Forms must be postmarked no later than January 8, 2021 to be eligible for a payment from the Settlement.
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.