The fairness hearing set for December 9, 2021 at 11:00 a.m. will be held telephonically. Participants and Interested Members of the Public are to call in to 1-877-336-1839, using Access Code 4144803, and Security Code 1234. Members of the Public may call in to listen to this hearing, but must remain silent for the duration of the hearing.
The information contained on this website is only a summary of the information presented in more detail in the Notice of (i) Pendency of Class Action and Class Certification; (ii) Proposed Settlement; (iii) Motion for an Award of Attorneys' Fees and Litigation Expenses; and (iv) Settlement Fairness Hearing. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
The purpose of the Notice is to inform you of the pendency of the securities class actions filed in federal and state courts (the “Actions”), the proposed settlement of the Actions (the “Settlement”), and a hearing to be held by the Court to consider: (i) whether the Settlement should be approved; (ii) whether the proposed plan for allocating the proceeds of the Settlement (the “Plan of Allocation”) should be approved; and (iii) Lead Counsel’s application for attorneys’ fees and Litigation Expenses.
REV Group has its principal executive offices in Milwaukee, Wisconsin. REV Group’s common stock trades on the New York Stock Exchange (“NYSE”) under the symbol “REVG.” REV Group designs, manufactures, and distributes specialty vehicles. The Company operates three segments: 1) Commercial, which manufactures transit and shuttle buses, Type A school buses, mobility vans, sweepers, and terminal trucks; 2) Recreation, which manufactures motorized RV products; and 3) Fire & Emergency (“F&E”), which manufactures fire trucks and ambulance-related products. Plaintiffs allege that Defendants made material misstatements and omissions of material fact about REV Group’s operating efficiencies, margin growth, and financial guidance.
Subject to Court approval, Plaintiffs, on behalf of the Classes, have agreed to settle the Actions in exchange for a payment of $14,250,000 (the “Settlement Amount”), which will be deposited into an interest-bearing Escrow Account (the “Settlement Fund”). The Net Settlement Fund (as defined in the Notice) will be distributed to Class Members according to the Court-approved plan of allocation (the “Plan of Allocation” or “Plan”). The proposed Plan of Allocation is set forth on pages 17-22 in the Notice.
On August 24, 2021, the Court preliminarily approved the Settlement, authorized this Notice to be disseminated to potential Class Members, and scheduled the Settlement Fairness Hearing to consider whether to grant final approval to the Settlement.
The Classes consists of:
All persons or entities who purchased shares of REV Group, Inc. (“REV Group” or the “Company”) common stock (i) traceable to the January 26, 2017 initial public offering (the “IPO”); (ii) traceable to the October 13, 2017 secondary public offering (the “SPO”); or (iii) purchased or otherwise acquired shares of REV Group common stock during the period from January 26, 2017 through June 7, 2018, inclusive (the “Relevant Period”), you are a “Class Member” and may be entitled to a payment from a class action settlement. Purchasers traceable to the IPO are the “IPO Class,” purchasers traceable to the SPO are the “SPO Class,” and purchasers or other acquirors during the Relevant Period are the “’34 Act Class.” The IPO Class, SPO Class, and ’34 Act Class are referred to as the “Classes.”
If you are a member of the Classes, in order to be potentially eligible for a payment from the Settlement, you must fill out a Claim Form online, on the File a Claim page of this website, by 11:59 p.m. PST on December 21, 2021.
If you are unable to fill out a Claim Form online, please print the Claim Form entitled “Proof of Claim and Release Form” (also called the “Claim Form”) available on the Important Documents page of this website, fill it out and mail it to the Claims Administrator at the address below, postmarked no later than December 21, 2021
Payments to eligible claimants will be made only after any objections and appeals of the Settlement are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
|SUBMIT A CLAIM FORM BY DECEMBER 21, 2021
||The only way to get a payment. See Question 8 in the Notice for details.
|EXCLUDE YOURSELF FROM THE CLASSES BY NOVEMBER 18, 2021
||Get no payment. This is the only option that, assuming your claim is timely brought, might allow you to ever bring or be part of any other lawsuit against Defendants and/or the other Defendant Releasees concerning the Released Plaintiffs’ Claims. See Question 11 in the Notice.
|OBJECT BY NOVEMBER 18, 2021
||Write to the Court about why you object to the Settlement, the Plan of Allocation, or the application for attorneys’ fees and Litigation Expenses. If you object, you will still be a member of the Class. See Question 14 in the Notice.
|GO TO A HEARING ON DECEMBER 9, 2021 AND FILE A NOTICE OF INTENTION TO APPEAR BY NOVEMBER 18, 2021
||Ask to speak in Court at the Settlement Fairness Hearing about the Settlement. See Question 18 in the Notice.
||Get no payment AND give up your rights to bring your own individual action.
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice available on the Important Documents page on this website. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-833-636-2108; emailing Info@RevGroupSecuritiesLitigation.com; or mailing a letter to:
In Re REV Group, Inc. Securities Litigation
c/o JND Legal Administration
P.O. Box 91337
Seattle, WA 98111
Inquiries should NOT be directed to the Court or Defendants