Scott+Scott, Attorneys at Law, LLP Announce Proposed Settlement of MetLife, Inc. CEU Securities Litigation

BIRMINGHAM, Ala., Jan. 2, 2017 /PRNewswire/ -- The following statement is being issued by Scott+Scott, Attorneys at Law, LLP regarding the MetLife, Inc. CEU Securities Litigation:

TO:  ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED COMMON EQUITY UNITS ISSUED BY METLIFE INC. ("METLIFE"), $75.00 STATED VALUE ("CEUs") (ticker symbol "MLU"),  IN OR TRACEABLE TO METLIFE'S PUBLIC OFFERING OF CEUs BETWEEN MARCH 3, 2011 AND JULY 5, 2012, BOTH DATES INCLUSIVE (THE "CLASS PERIOD"), AND WHO WERE DAMAGED THEREBY (THE "CLASS").

THIS NOTICE WAS AUTHORIZED BY THE COURT.  IT IS NOT A LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on March 9, 2017, at 9:30 a.m., before the Honorable Elisabeth French, Circuit Court of Jefferson County, Alabama, at the Jefferson County Courthouse, Room 610, 716 Richard Arrington Jr. Blvd. North, Birmingham, Alabama 35203, to determine whether: (1) the proposed settlement (the "Settlement") of the above-captioned action ("Action") for $9,750,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) the Final Judgment as provided under the Stipulation and Agreement of Settlement ("Stipulation") should be entered, dismissing the Amended Class Action Complaint filed in the Action on the merits and with prejudice; (3) the release by the Class of the Released Claims, as set forth in the Stipulation, should be provided to the Released Defendants' Parties; (4) this Action satisfies the applicable prerequisites for class action treatment, solely for purposes of the Settlement, under Rule 23 of the Alabama Rules of Civil Procedure and Alabama Code 1975 §§ 6-5-540 through 542; (5) to award Plaintiff's Counsel attorneys' fees and expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action ("Notice"), referenced below); (6) to grant Plaintiff's requests for an incentive or service award in connection with its role in prosecuting this action on behalf of the Class out of the Settlement Fund; and (7) the Plan of Allocation should be approved by the Court.

IF YOU PURCHASED OR ACQUIRED METLIFE CEUs DURING THE PERIOD MARCH 3, 2011 AND JULY 5, 2012, BOTH DATES INCLUSIVE (THE "CLASS PERIOD"), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION. 

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim to the address below, postmarked on or before April 6, 2017.  Your failure to submit your Proof of Claim by April 6, 2017 will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Action.  If you are a Member of the Class and do not request exclusion therefrom, you will be bound by the Settlement and any judgment and release entered in the Action, including, but not limited to, the Final Judgment, whether or not you submit a Proof of Claim.

If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), or a Proof of Claim form, you may obtain these documents (as well as a copy of the Stipulation, which contains the complete terms of the Settlement and the definitions of all capitalized defined terms used in this Summary Notice) online at www.metlifeCEUsecuritieslitigation.com, or by writing to:

MetLife, Inc. CEU Securities Litigation Settlement
c/o KCC Class Action Services
P.O. Box 30248
College Station, TX 77842-3248
Telephone:  (877) 368-9232

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.  Inquiries, other than requests for a copy of the Notice or Proof of Claim form, may be made to Plaintiff's Counsel:

SCOTT+SCOTT, ATTORNEYS AT LAW, LLP
William C. Fredericks
The Helmsley Building
230 Park Avenue, 17th Floor
New York, NY 10169-1820
Telephone: (212) 223-6444
Facsimile: (212) 223-6334

SCOTT+SCOTT, ATTORNEYS AT LAW, LLP
Geoffrey M. Johnson
12434 Cedar Road, Suite 12
Cleveland Heights, OH  44106
Telephone:  (216) 229-6088
Facsimile:  (216) 229-6092

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION BY FEBRUARY 16, 2017 IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.  ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT ENTERED IN THE ACTION EVEN IF THEY DO NOT FILE A TIMELY PROOF OF CLAIM.

This Notice has been authorized by Order dated December 7, 2016 of the Circuit Court of Jefferson County, Alabama (the Hon. Elisabeth French, J.).

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SOURCE Scott+Scott, Attorneys At Law, LLP