NEW YORK, July 7, 2025 /PRNewswire/ —
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
|
HUMBERTO LOZADA and OKLAHOMA
Plaintiffs,
v.
TASKUS, INC., BRYCE MADDOCK,
Defendants.
|
CLASS ACTION
|
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED TASKUS CLASS A COMMON STOCK BETWEEN JUNE 11, 2021 AND JANUARY 19, 2022, BOTH INCLUSIVE.1
THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York (the “Court”) and Rule 23 of the Federal Rules of Civil Procedure, that a hearing will be held on October 16, 2025, at 2:00 p.m., before the Honorable Gary Stein, U.S. Magistrate Judge, in Courtroom 9A at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, New York 10007, for the purpose of determining: (1) whether the proposed settlement of the claims in the above-captioned litigation (the “Litigation”) for the sum of $17,500,000 in cash (the “Settlement”) should be approved by the Court as fair, reasonable, and adequate; (2) whether a Settlement Class should be certified for purposes of the Settlement; (3) whether, thereafter, this Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated May 27, 2025 (the “Stipulation”); (4) whether the proposed Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; and (5) the reasonableness of the application for payment of attorneys’ fees and expenses incurred in connection with this Litigation together with the interest earned thereon (and any payment to the Plaintiffs pursuant to the Private Securities Litigation Reform Act of 1995 in connection with his representation of the Settlement Class). The Court may change the date of this hearing, or hold it remotely, without providing another notice. You do NOT need to attend the hearing to receive a distribution from the Net Settlement Fund.
The Litigation has been preliminarily certified as a class action on behalf of a Settlement Class of all Persons or entities who purchased or otherwise acquired TaskUs Class A common stock either: (i) between June 11, 2021 and January 19, 2022, both inclusive, or (ii) pursuant and/or traceable to the IPO Registration Statement or Secondary Offering Registration Statement, except for certain Persons or entities excluded from the Settlement Class, as defined in the full Long-Form Notice of Pendency and Proposed Settlement of Class Action (“Long-Form Notice”), which is available as described below. If the Settlement is approved, it will resolve all claims in the Litigation. Capitalized terms that are not otherwise defined herein shall have the meanings ascribed to them in the Long-Form Notice and/or Stipulation.
A detailed description of the Litigation, including important information about your rights and options, is in the detailed Long-Form Notice available at www.TaskUsSecuritiesLitigation.com or by contacting the Claims Administrator at: TaskUs Securities Litigation, Claims Administrator, c/o Epiq Class Action & Claims Solutions, Inc., P.O. Box 4518, Portland, OR 97208-4518, or (888) 864-4860.
If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form (“Proof of Claim”) online at www.TaskUsSecuritiesLitigation.com or by mail postmarked no later than October 6, 2025. Failure to timely submit a Proof of Claim will subject your claim to possible rejection and may preclude you from receiving any payment from the Settlement.
If you desire to be excluded from the Settlement Class, you must submit a request for exclusion electronically submitted or postmarked by August 21, 2025, in the manner and form explained in the detailed Long-Form Notice referred to above. All Members of the Settlement Class who do not timely and validly request exclusion from the Settlement Class will be bound by any judgment entered in the Litigation pursuant to the terms and conditions of the Stipulation.
Any objection to the Settlement, Lead Counsel’s Fee and Expense Application, and/or the proposed Plan of Allocation must be mailed or delivered to the Clerk of Court and counsel for the Parties at the addresses below such that it is received no later than September 25, 2025
Court:
Clerk of the Court
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
Daniel Patrick Moynihan
United States Courthouse
500 Pearl Street
New York, New York 10007
Lead Counsel:
Joseph A. Fonti
BLEICHMAR FONTI & AULD LLP
300 Park Avenue, Suite 1301
New York, New York 10022
Emailed copy to [email protected]
Counsel for Defendants:
Jonathan K. Youngwood
SIMPSON THACHER & BARTLETT LLP
425 Lexington Avenue
New York, New York 10017
Emailed copy to [email protected]
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact counsel for Plaintiffs at the address listed above, email [email protected], call (888) 879-9418, or go to the following website: www.TaskUsSecuritiesLitigation.com.
DATED: July 7, 2025
BY THE COURT:
Judge John P. Cronan
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1 Any capitalized terms that are not otherwise defined herein shall have the meanings ascribed to them in the Stipulation of Settlement dated May 27, 2025 (the “Stipulation”), which is available on the website established for the Settlement at www.TaskUsSecuritiesLitigation.com.
SOURCE UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
SOURCE UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
