A lawsuit captioned as Harry Green v. SilverTowne, L.P., SilverTowne Inc., and Leon Hendrickson, Individually, Civil Action No. 1:15-cv-08703, was filed in the United States District Court for the District of New Jersey on behalf of all persons who are residents of the United States who purchased a “Morgan Dollar Replica 1oz .999 Silver Medallion” (collectively “Morgan Replicas”) from Defendants without the word “COPY” inscribed thereon, that sold by Defendants SilverTowne, L.P., SilverTowne Inc., and Leon Hendrickson, Individually (“Defendants”) between December 14, 2009 and the present. The complaint alleged that Defendants improperly designed, manufactured, imported, and/or sold the Morgan Replicas without the word “COPY” inscribed on them, as required by law. Defendants deny any wrongdoing and deny the claims and allegations asserted by Plaintiff. The Court has not ruled on the merits of the Plaintiff’s or the Class’ claims and has made no determination of violations or liability against Defendants. The parties nevertheless have agreed to settle the lawsuit.
AM I COVERED BY THIS CLASS ACTION LAWSUIT AND THE PROPOSED SETTLEMENT? You can determine if you are a Class member by reviewing any Rounds not marked with the word “COPY” you purchased from Defendants between December 14, 2009 and the present (the “Class Period”). If you are a United States resident and the Morgan Replica you purchased was sold to you by Defendants during the Class Period and is not marked “COPY”, then you are a Class member.
WHAT ARE THE TERMS OF THE SETTLEMENT? Defendants have agreed, subject to court approval, that each Class member who submits a timely Claim, with the appropriate proof, will have the right to return each Morgan Replica they purchased from Defendants without the word “COPY” inscribed thereon during the Class Period and to receive a monetary refund of the Morgan Replica that they purchased at a price equal to the closing “spot” price of the silver contained in the Class Member’s Morgan Replica as of the date that it is received by the defendants or third party administrator. All shipping costs associated with exchanging the Morgan Replicas shall be paid by the Defendants. The proposed settlement is intended to settle all claims against Defendants that arise in any way from the Defendants’ conduct in the transactions that are the subject of this lawsuit. By participating in this Settlement, each Class member is releasing all such claims.
WHAT ARE MY RIGHTS? If you are a member of the Class and wish to participate in the settlement, you need to complete and submit a claim form on or before April 23, 2017. Defendants will substantiate that the Morgan Replica(s) you return with the claim form were sold to you by Defendants during the Class Period and will provide you with the refund and shipping costs described above. If your name does not appear in Defendants’ records, you may be asked to provide separate proof of purchase.
If you are a member of the Class and you do NOT want to remain part of the Class, you must exclude yourself (“opt-out”). To opt-out, you must mail a written request, postage pre-paid, to Class counsel at DeNittis Osefchen Prince, P.C., 5 Greentree Centre, Suite 410, 525 Route 73 N., Marlton, NJ 08053 and Defendant’s Counsel, E. Crystal Lopez, Esq. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 2029 Century Park East, Suite 1370, Los Angeles, CA 90067,. The request must be post-marked on or before March 24, 2017, and contain the following: (1) the name of the lawsuit; (2) your full name, current address and phone number; (3) your signature; and (4) a specific statement of your intention to exclude yourself from the Settlement Class and any judgment entered pursuant to the proposed Settlement. If you do not opt-out as instructed above, you will be automatically included and bound by any determination of the Court, whether favorable or not, and any claim of yours will be ended by judgment.
You may also file a motion with the Court for permission to intervene in this lawsuit if you wish. You do not have to intervene. If you do not intervene in this case or exclude yourself from the Class, your interests will be represented by Class counsel.
You may object to the proposed settlement by sending your objection to the addresses listed above and postmarked no later than April 11, 2017. Any objection should contain the following: (1) the name of this lawsuit; (2) your full name, current address and telephone number; (3) your signature; (4) proof of your membership in the Class; and (5) the specific reason(s) for your objection.
On April 25, 2017, at 10:00 a.m., a public hearing before the Honorable Noel L. Hillman, Courtroom 6030, United States District Court for the District of New Jersey, Mitchell H. Cohen U.S. Courthouse, 1 John F. Gerry Plaza, 4th and Cooper Streets, Camden, NJ 08101, will be held to determine whether the proposed settlement should be approved. Class members who support the proposed settlement do not need to appear at the hearing or take any other action to indicate their approval. Class members who object to the proposed settlement are not required to attend the settlement hearing. If you want to be heard orally in opposition to the settlement you must indicate your intention to appear at the hearing in your written objection.
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