Kostecki Brokerage Pty Ltd $9,500,000 Settlement for Fiduciary Duty Breach

Kostecki Brokerage Pty Ltd has agreed to pay $9,500,000 to settle a class action lawsuit for alleged breaches of fiduciary duty in connection with a merger. This settlement benefits those who were record and beneficial owners of Alloy Steel common stock as of September 17, 2021, and who received merger consideration.

Who Benefits?: All record and beneficial owners of Alloy Steel common stock as of September 17, 2021, who received merger consideration.

How much can I get?: Eligible Class Members will receive a pro rata distribution from the $9,500,000 Settlement Fund.

Important Dates

• Deadline to File a Claim: Not applicable as no claim form is required.
• Deadline to Object to The Settlement: March 20, 2024
• Deadline to File a Notice of Intention to Appear at the Settlement Hearing: March 20, 2024
• Settlement Hearing: April 4, 2024, at 11:00 a.m.

Can I Claim an Award?

If you were a record and beneficial owner of Alloy Steel common stock as of September 17, 2021, and received merger consideration, you are eligible to claim an award from the settlement. The class includes all such stockholders, together with their respective successors and assigns. The class is certified under Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2), meaning it is a non-opt-out class.

The class does not include the Defendants, their officers, directors, immediate family members, and the Appraisal Stockholders who resolved their claims separately.

What Are the Terms of the Settlement?

The settlement amount of $9,500,000 will be deposited into an interest-bearing escrow account for the benefit of the class. The Net Settlement Fund, after deducting taxes, expenses, and fees, will be distributed to eligible class members on a pro rata basis.

Each eligible class member will receive a payment proportional to the number of shares they held at the time of the merger. Payments will be made in the same manner as the merger consideration was received.

Products or Services That Are the Subject of the Settlement

This settlement pertains to the merger of Alloy Steel, where stockholders received $2.55 per share in cash. The settlement addresses claims of breaches of fiduciary duty related to the fairness of the merger process and price.

Is Proof Required to Claim the Reward?

No proof is required to claim the reward. Eligible class members do not need to submit a claim form. Payments will be automatically distributed to those who qualify.

How to Claim Your Award

Eligible class members do not need to take any action to claim their award. Payments will be made automatically in the same manner as the merger consideration was received.

If you have any questions, you can contact the Settlement Administrator, Epiq Systems, Inc., at 1-888-703-0748 or via email at info@AlloySteelStockholderSettlement.com.

$9,500,000 Settlement

The settlement amount of $9,500,000 was agreed upon to resolve all claims against the defendants. This amount will be distributed to eligible class members after deducting attorneys' fees, expenses, and administration costs.

The settlement provides a significant benefit to class members, offering approximately $1.90 per share of Alloy Steel common stock held at the time of the merger, which represents a 75% increase over the original merger consideration of $2.55 per share.

Why There Is a Class Action Settlement

The class action was initiated to address alleged breaches of fiduciary duty by the defendants in connection with the merger of Alloy Steel. Plaintiffs claimed that the merger was conducted through an unfair process and at an unfair price.

The settlement avoids the uncertainties and expenses of continued litigation and provides immediate financial benefits to the class members. The court will hold a settlement hearing on April 4, 2024, to determine the fairness and adequacy of the settlement.

Important Dates

• Deadline to File a Claim: Not applicable as no claim form is required.
• Deadline to Object to The Settlement: March 20, 2024
• Deadline to File a Notice of Intention to Appear at the Settlement Hearing: March 20, 2024
• Settlement Hearing: April 4, 2024, at 11:00 a.m.

Can I Claim an Award?

If you were a record and beneficial owner of Alloy Steel common stock as of September 17, 2021, and received merger consideration, you are eligible to claim an award from the settlement. The class includes all such stockholders, together with their respective successors and assigns. The class is certified under Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2), meaning it is a non-opt-out class.

The class does not include the Defendants, their officers, directors, immediate family members, and the Appraisal Stockholders who resolved their claims separately.

What Are the Terms of the Settlement?

The settlement amount of $9,500,000 will be deposited into an interest-bearing escrow account for the benefit of the class. The Net Settlement Fund, after deducting taxes, expenses, and fees, will be distributed to eligible class members on a pro rata basis.

Each eligible class member will receive a payment proportional to the number of shares they held at the time of the merger. Payments will be made in the same manner as the merger consideration was received.

Is Proof Required to Claim the Reward?

No proof is required to claim the reward. Eligible class members do not need to submit a claim form. Payments will be automatically distributed to those who qualify.

How to Claim Your Award

Eligible class members do not need to take any action to claim their award. Payments will be made automatically in the same manner as the merger consideration was received.

If you have any questions, you can contact the Settlement Administrator, Epiq Systems, Inc., at 1-888-703-0748 or via email at info@AlloySteelStockholderSettlement.com.

$9,500,000 Settlement

The settlement amount of $9,500,000 was agreed upon to resolve all claims against the defendants. This amount will be distributed to eligible class members after deducting attorneys' fees, expenses, and administration costs.

The settlement provides a significant benefit to class members, offering approximately $1.90 per share of Alloy Steel common stock held at the time of the merger, which represents a 75% increase over the original merger consideration of $2.55 per share.

Why There Is a Class Action Settlement

The class action was initiated to address alleged breaches of fiduciary duty by the defendants in connection with the merger of Alloy Steel. Plaintiffs claimed that the merger was conducted through an unfair process and at an unfair price.

The settlement avoids the uncertainties and expenses of continued litigation and provides immediate financial benefits to the class members. The court will hold a settlement hearing on April 4, 2024, to determine the fairness and adequacy of the settlement.