SIOUX CITY, Iowa, March 27, 2012 /PRNewswire/ -- Kahn Swick & Foti, LLC announces that the United States District Court Northern District of Iowa approved the following announcement of a proposed class action settlement that would benefit purchasers of publicly-traded common stock of Meta Financial Group, Inc. (NASDAQ:CASH).
TO: ALL PERSONS and entities WHO purchased or otherwise acquired the publicly-traded COMMON STOCK of META FINANCIAL GROUP, Inc. ("META FINANCIAL") (trading symbol nasdaq:CASH) between MAY 14, 2009, and OCTOBER 18, 2010, INCLUSIVE:
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Iowa, Western Division, that a hearing will be held on June 29, 2012 at 9:00 a.m. (CST), before the Honorable Mark W. Bennett at the United States Courthouse, 320 Sixth Street, Sioux City, IA 51101, for the purpose of determining: (1) whether the proposed Class can be certified for settlement purposes only, pursuant to Federal Rule of Civil Procedure 23; (2) whether the proposed Settlement for the sum of $2,100,000 in cash should be approved by the Court as fair, reasonable and adequate; (3) whether, after the hearing, this Action should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated as of January 5, 2012; (4) whether the Plan of Allocation is fair, reasonable and adequate and should be approved; (5) whether the application of Lead Counsel for the payment of attorneys' fees and reimbursement of expenses incurred in this Action should be approved; and (6) whether the reimbursement to Lead Plaintiff for reasonable time, costs and expenses incurred related to representation of the Class should be approved.
If you purchased or otherwise acquired the publicly-traded common stock of Meta Financial Group, Inc. ("Meta Financial") (trading symbol NASDAQ:CASH) between May 14, 2009 and October 18, 2010, inclusive, your rights may be affected by the Settlement of this Action. If you have not received a detailed Notice of Pendency of Class Action and Proposed Settlement with all Defendants, Motion for Attorneys' Fees and Settlement Fairness Hearing ("Notice") and a copy of the Proof of Claim ("Claim Form"), you should obtain copies by writing to In re Meta Financial Group, Inc. Securities Litigation, c/o Strategic Claims Services at 600 N. Jackson Street, Suite 3, Media, PA 19063 or by visiting the website of the Claims Administrator at www.strategicclaims.net/metafinancialgroup. The Notice contains details about this Action and Settlement, including what you must do to exclude yourself from the Settlement, object to the terms of the Settlement, or file a Claim Form. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked no later than July 30, 2012, establishing that you are entitled to recovery.If you desire to be excluded from the Class, you must submit a Request for Exclusion postmarked by June 1, 2012, in the manner and form explained in the detailed Notice referred to above. All Class Members who have not timely and validly requested exclusion from the Class will be bound by any judgment entered in the Action pursuant to the terms and conditions of the Stipulation. Your objection must be postmarked on or before June 1, 2012 and mailed to the Court; Kahn Swick & Foti, LLC, Lead Counsel for Lead Plaintiff and the Class; and Counsel for the Defendants at the following addresses: COURT: Clerk of Court United States Courthouse320 Sixth Street Sioux City, IA 51101 FOR LEAD PLAINTIFF: Lewis S. Kahn KAHN SWICK & FOTI, LLC206 Covington Street Madisonville, Louisiana 70447 Lead Counsel for Lead Plaintiff and the Class FOR DEFENDANTS: Carl VolzKATTEN MUCHIN ROSENMAN LLP525 West Monroe Street Chicago IL 60661-3693 Counsel for Defendants