Monteverde & Associates PC and Kahn Swick & Foti LLC Announce Proposed Class Action Settlement on Behalf of All Owners of Harvest Capital Credit Corporation Common Stock

Monteverde & Associates PC and Kahn Swick & Foti LLC Announce Proposed Class Action Settlement on Behalf of All Owners of Harvest Capital Credit Corporation Common Stock

PR Newswire

NEW YORK, March 27, 2024

NEW YORK, March 27, 2024 /PRNewswire/ --

SUMMARY NOTICE OF PENDENCY OF STOCKHOLDER CLASS ACTION AND PROPOSED SETTLEMENT, SETTLEMENT HEARING, AND RIGHT TO APPEAR

The purpose of this notice (the "Summary Notice") is to inform you of: (i) the class action lawsuit captioned In re Harvest Capital Credit Corporation Stockholder Litigation, pending in the Court of Chancery of the State of Delaware (the "Court") with Civil Action Number 2021-0164-JTL (the "Action"); (ii) the proposed settlement of this Action (the "Settlement") between Plaintiffs and Defendants; and (iii) the hearing to be held by the Court in connection with the proposed Settlement. The hearing will be held in the Court, Leonard L. Williams Justice Center, 500 North King Street, Wilmington, Delaware 19801, or remotely by Zoom (in the discretion of the Court), on July 2, 2024, at 11:00am (the "Settlement Hearing") for the purposes of determining, among other things: (a) whether the Action may be finally maintained as a non-opt out class action and whether the Class should be finally certified, for purposes of the Settlement, pursuant to Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2); (b) whether Plaintiffs may be finally appointed as representatives for the Class and Plaintiffs' Co-Lead Counsel finally appointed as counsel for the Class, and whether Plaintiffs and Co-Lead Counsel have adequately represented the interests of the Class in the Action; (c) whether the proposed Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Class, and should be approved by the Court; (d) whether the Order and Final Judgment should be entered dismissing the Action with prejudice as against Defendants and releasing all Released Plaintiffs' Claims against Defendants and the Released Group; (e) whether the proposed Plan of Allocation of the Net Settlement Fund is fair and reasonable, and should therefore be approved; and (f) whether the application by Co-Lead Counsel for an award of attorneys' fees and expenses and any incentive award should be approved; and (g) hear and rule on any objections to the Settlement, the proposed Plan of Allocation, and/or to the application by Co-Lead Counsel for an award of attorneys' fees and expenses.1

IF YOU HELD HCAP COMMON STOCK DURING THE PERIOD FROM AND INCLUDING DECEMBER 22, 2020, THROUGH AND INCLUDING JUNE 9, 2021 (THE "CLASS PERIOD"), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF HCAP COMMON STOCK DURING THE CLASS PERIOD. If you have not received a detailed Notice of Pendency of Stockholder Class Action and Proposed Settlement, Settlement Hearing, and Right to Appear ("Notice"), you may obtain copies by writing to Harvest Capital Credit Corporation Stockholder Litigation, c/o Claims Administrator, P.O. Box 4620, Portland, OR 97208-4620, 1-855-604-1813, or on the Internet at www.rg2claims.com/hcap.html. 

Any Class Member who objects to the Stipulation, the Settlement, the class action determination, the Judgment to be entered in the Action, Co-Lead Counsel's application for attorneys' fees and expenses, or the application for an incentive award ("Objector"), or who otherwise wishes to be heard, may appear in person or by such Class Member's attorney at the Settlement Hearing and present evidence or argument that may be proper and relevant; provided, however, that, except for good cause shown or as the Court otherwise directs, no Objector shall be heard and no papers, briefs, pleadings, or other documents submitted by any Person shall be considered by the Court unless, not later than June 18, 2024 (fourteen (14) calendar days prior to the Settlement Hearing), such Objector files with the Register in Chancery, Court of Chancery of the State of Delaware, New Castle County, Leonard L. Williams Justice Center, 500 North King Street, Wilmington, Delaware 19801, and serves upon counsel (listed below) a written objection that: (i) identifies the case name and civil action number, "In re Harvest Capital Credit Corporation Stockholder Litigation, C.A. No. 2021 0164-JTL"; (ii) states the name, address, and telephone number of the Objector and, if represented by counsel, the name, address, and telephone number of the Objector's counsel; (iii) is signed by the Objector; (iv) contains a specific, written statement of the objection(s) and the specific reason(s) for the objection(s), including any legal and evidentiary support the Objector wishes to bring to the Court's attention, and, if the Objector has indicated that he, she, or it intends to appear at the Settlement Hearing, the identity of any witnesses the Objector may call to testify and any exhibits the Objector intends to introduce into evidence at the hearing; and (v) includes documentation sufficient to prove that the Objector is a Class Member (i.e., held shares of HCAP common stock at any time during the period from December 22, 2020, through and including, June 9, 2021).

PLEASE DO NOT CONTACT THE COURT REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Monteverde & Associates PC or Kahn Swick & Foti, LLC, at the addresses listed above.

Dated: February 29, 2024                                           BY ORDER OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE

1       Any capitalized terms used in this Summary Notice that are not otherwise defined in this Summary Notice shall have the meanings given to them in the Stipulation and Agreement of Settlement, Compromise and Release Between Plaintiffs and Defendants, dated February 23, 2024 (the "Stipulation"). A copy of the Stipulation is available at https://www.rg2claims.com/hcap.html.

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SOURCE Monteverde & Associates PC