NN, Inc. $9,500,000 Settlement: Essential Information for Claimants

If you acquired shares of NN, Inc. during the Secondary Public Offering on September 14, 2018, and suffered losses, you might be eligible for compensation from a class action settlement. This settlement aims to resolve allegations of federal securities law violations related to material misstatements in the company's offering documents.

Who Benefits?: This settlement benefits individuals and entities who purchased or otherwise acquired NN, Inc. common stock in the Secondary Public Offering on the specified date and incurred damages.

How much can I get?: Eligible claimants may receive a portion of the $9,500,000 Settlement Fund, minus court-approved deductions such as legal fees and administrative costs.

Important Dates

• Fairness Hearing: The Settlement Fairness Hearing occurred on December 1, 2022, where the settlement was approved.
• Deadline to File a Claim: The deadline for submitting claims was December 15, 2022. Unfortunately, this deadline has passed, and new claims are no longer accepted.

Eligibility Criteria for Settlement Class Members

The Settlement Class includes those who purchased or otherwise acquired NN, Inc. common stock in the Secondary Public Offering on September 14, 2018. The lawsuit alleges that the Offering Documents for the SPO contained materially false or misleading statements, which is the basis for the damages suffered by the class members.

• Individuals and entities that made such purchases and were damaged as a result.
• Legal representatives, heirs, executors, administrators, successors, or assigns of such purchasers or acquirers.

Exclusions from the Settlement Class are Defendants, their immediate families, any entity in which Defendants have a controlling interest, and legal representatives or assigns of such parties. Those who requested exclusion by the November 15, 2022 deadline are also not considered Class Members.

Understanding the Settlement Awards

The Settlement Fund, after deductions, will be allocated to Class Members based on a Plan of Allocation. This plan takes into account the number of shares purchased, whether they were sold, and the timing and amount of such sales.

• Recognized Losses: The amount each Class Member will receive depends on the recognized losses calculated by the Claims Administrator.

The Securities at the Center of the Settlement

The settlement concerns NN, Inc. common stock purchased during the Secondary Public Offering on September 14, 2018. The allegations suggest that the Offering Documents at the time contained false statements or omissions regarding the company's financial and operational status.

Is Proof Required to Claim the Reward?

Yes, to be eligible for a payment, Class Members needed to submit a Proof of Claim Form with the necessary information by the deadline of December 15, 2022.

How to Claim Your Award

Although the deadline for claim submission has passed, those who have filed a claim can expect the Claims Administrator to prepare for distribution. For updates and further instructions, visit the official settlement website.

Dissecting the Settlement Amount

The $9,500,000 Settlement Fund was negotiated to compensate the Settlement Class without the uncertainties of a trial. The amount reflects the strength of the Class Members' case balanced against the potential risks and costs of continued litigation.

The Rationale Behind the Settlement

The settlement represents a compromise to provide immediate compensation to Class Members, avoiding the risks and delays of further litigation. It was reached with the assistance of a mediator and is deemed fair and reasonable by Plaintiff's Counsel.

As the Settlement has been approved, the focus is now on the distribution of the Net Settlement Fund to eligible Class Members who have submitted valid claims.

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