Dear Name.First :
Thank you for retaining the law firm of Johnson Fistel, LLP to investigate your potential legal claims against or on behalf of Alfi, Inc. (the “Company”) and certain of its key insiders and/or directors, and to take legal action in connection therewith if warranted following our investigation. Such action we may take on your behalf includes: (i) filing a class action lawsuit; (ii) initiating a derivative lawsuit for the benefit of the company; (iii) serving a books and records demand on the Company for relevant documents; (iv) initiating a books and records action to force the production of requested relevant documents; and/or (v) serving a litigation demand.
The following sets forth the terms under which we will represent you, as well as your rights and responsibilities as a plaintiff.
We will investigate and prosecute the action on a contingency fee basis, which means you will have no responsibility for legal fees or expenses. In nearly all cases, our legal fees and expenses are paid out of, or in addition, to a recovery (i.e., judgment or settlement), and then only after notice to shareholders and as approved by the court. In rare cases, defendants offer a settlement on an individual basis. If you elect to accept a settlement amount on an individual basis, you agree that out of any such settlement amount our expenses will be reimbursed and our legal fees will be the greater of (i) 25% of the gross settlement amount, or (ii) the hours we spent on the matter multiplied by our normal hourly billing rates. Regardless of whether there is a recovery, there will be no fees or expenses due or payable by you.
You agree that we may divide fees with other attorneys for serving as local or co-counsel, as referral fees, or for other services performed. The division of attorneys’ fees with other counsel may be determined upon a percentage basis or upon time spent in assisting the prosecution of an action. The division of fees with other counsel is our sole responsibility and will not increase the fees received by us upon a successful resolution of the litigation.
You understand that, in agreeing to be a plaintiff, and depending upon the nature of any action that may be filed, you are undertaking a fiduciary duty that requires you to fairly and adequately represent the interests of the class or the Company. Here is a summary of what you must do to fulfill that responsibility:
Be generally familiar with the litigation. This does not mean you must know every aspect of this litigation. We will keep you informed of major events and this will satisfy your duty. We will also answer any questions you have about the status of the litigation and tactical decisions.
Read the complaint and/or demand for books and records and understand it generally. You should know who the parties are and why you are suing.
Confer with us at any time you feel it is necessary to do so. Likewise, you need to be responsive if we feel it is necessary to discuss this matter.
Vigorously prosecute the litigation by authorizing us to do what is necessary to successfully prosecute this case on behalf of the Company shareholders.
Participate in discovery. If defendants serve written discovery requests or ask to depose you, we will assist in preparing responses and defend you at any deposition.
Preserve all documents that relate to this case until it has concluded, or we inform you otherwise. Documents include any information you have about the Company, no matter how it is recorded or who is keeping it for you. If you have any questions about whether information should be retained, please ask us before destroying any documents or electronic information.
Do not expect special treatment. You have not been promised any special treatment above the treatment that may be awarded to other shareholders. If successful, we may, depending on the type of action and/or jurisdiction, ask the judge to award you additional compensation for the time and effort you expend in this matter. You understand that while we may request it, we cannot guarantee that any court will award you any additional compensation.
Understand that litigation is by its nature unpredictable. It is not possible to guarantee a successful result or that a particular result can be obtained within a given timeframe. We appreciate your awareness of and patience with the potential duration of litigation and related steps.
If a derivative action is filed, continue to be a shareholder at all times. A derivative action is on behalf of the Company, so to maintain standing, you would have to hold at least some of your shares through the end of the litigation. Should you decide you need to sell your shares in the Company, you must let us know in advance.
After executing this letter, please return it to us at your earliest convenience. We look forward to the successful prosecution of these claims.
Sincerely,
Frank J. Johnson, Esq.
for Johnson Fistel, LLP
Dear Name.First :
Thank you for retaining the law firm of Johnson Fistel, LLP to investigate your potential legal claims against or on behalf of Alfi, Inc. (the “Company”) and certain of its key insiders and/or directors, and to take legal action in connection therewith if warranted following our investigation. Such action we may take on your behalf includes: (i) filing a class action lawsuit; (ii) initiating a derivative lawsuit for the benefit of the company; (iii) serving a books and records demand on the Company for relevant documents; (iv) initiating a books and records action to force the production of requested relevant documents; and/or (v) serving a litigation demand.
The following sets forth the terms under which we will represent you, as well as your rights and responsibilities as a plaintiff.
We will investigate and prosecute the action on a contingency fee basis, which means you will have no responsibility for legal fees or expenses. In nearly all cases, our legal fees and expenses are paid out of, or in addition, to a recovery (i.e., judgment or settlement), and then only after notice to shareholders and as approved by the court. In rare cases, defendants offer a settlement on an individual basis. If you elect to accept a settlement amount on an individual basis, you agree that out of any such settlement amount our expenses will be reimbursed and our legal fees will be the greater of (i) 25% of the gross settlement amount, or (ii) the hours we spent on the matter multiplied by our normal hourly billing rates. Regardless of whether there is a recovery, there will be no fees or expenses due or payable by you.
You agree that we may divide fees with other attorneys for serving as local or co-counsel, as referral fees, or for other services performed. The division of attorneys’ fees with other counsel may be determined upon a percentage basis or upon time spent in assisting the prosecution of an action. The division of fees with other counsel is our sole responsibility and will not increase the fees received by us upon a successful resolution of the litigation.
You understand that, in agreeing to be a plaintiff, and depending upon the nature of any action that may be filed, you are undertaking a fiduciary duty that requires you to fairly and adequately represent the interests of the class or the Company. Here is a summary of what you must do to fulfill that responsibility:
Be generally familiar with the litigation. This does not mean you must know every aspect of this litigation. We will keep you informed of major events and this will satisfy your duty. We will also answer any questions you have about the status of the litigation and tactical decisions.
Read the complaint and/or demand for books and records and understand it generally. You should know who the parties are and why you are suing.
Confer with us at any time you feel it is necessary to do so. Likewise, you need to be responsive if we feel it is necessary to discuss this matter.
Vigorously prosecute the litigation by authorizing us to do what is necessary to successfully prosecute this case on behalf of the Company shareholders.
Participate in discovery. If defendants serve written discovery requests or ask to depose you, we will assist in preparing responses and defend you at any deposition.
Preserve all documents that relate to this case until it has concluded, or we inform you otherwise. Documents include any information you have about the Company, no matter how it is recorded or who is keeping it for you. If you have any questions about whether information should be retained, please ask us before destroying any documents or electronic information.
Do not expect special treatment. You have not been promised any special treatment above the treatment that may be awarded to other shareholders. If successful, we may, depending on the type of action and/or jurisdiction, ask the judge to award you additional compensation for the time and effort you expend in this matter. You understand that while we may request it, we cannot guarantee that any court will award you any additional compensation.
Understand that litigation is by its nature unpredictable. It is not possible to guarantee a successful result or that a particular result can be obtained within a given timeframe. We appreciate your awareness of and patience with the potential duration of litigation and related steps.
If a derivative action is filed, continue to be a shareholder at all times. A derivative action is on behalf of the Company, so to maintain standing, you would have to hold at least some of your shares through the end of the litigation. Should you decide you need to sell your shares in the Company, you must let us know in advance.
After executing this letter, please return it to us at your earliest convenience. We look forward to the successful prosecution of these claims.
Sincerely,
Frank J. Johnson, Esq.
for Johnson Fistel, LLP
Thank you for retaining Johnson Fistel, LLP to investigate your potential legal claims on behalf of [COMPANY] (the “Company”) and certain of its key insiders and/or directors, and to take legal action in connection therewith if warranted following our investigation. Such action we may take on your behalf includes: (i) initiating a derivative lawsuit for the benefit of the company; (ii) serving a books and records demand on the Company for relevant documents; (iii) initiating a books and records action to force the production of requested relevant documents; and/or (v) serving a litigation demand seeking corrective action.
The following sets forth the terms under which we will represent you, as well as your rights and responsibilities as a representative stockholder and/or plaintiff.
We will investigate and prosecute the action on a contingency fee basis, which means you will have no responsibility for legal fees or expenses. In nearly all cases, our legal fees and expenses are paid out of, or in addition, to a recovery (i.e., judgment or settlement), and then only after notice to shareholders and as approved by the court.
You agree that we may divide fees with other attorneys for serving as local or co-counsel, as referral fees, or for other services performed. The division of attorneys’ fees with other counsel may be determined upon a percentage basis or upon time spent in assisting the prosecution of an action. The division of fees with other counsel is our sole responsibility and will not increase the fees received by us upon a successful resolution of the litigation.
You understand that, in agreeing to be a representative stockholder and/or plaintiff, and depending upon the nature of any action that may be filed, you are undertaking a fiduciary duty that requires you to fairly and adequately represent the interests of the Company. Here is a summary of what you must do to fulfill that responsibility:
Be generally familiar with the action being taken on behalf of the Company, including any litigation that may be commenced. This does not mean you must know every aspect of every action being taken to protect the interests of the Company. We will keep you informed of major events and this will satisfy your duty. We will also answer any questions you have about the status of the action(s) being taken and tactical decisions.
Read the complaint and/or demand letters (and related correspondence) and understand it generally. You should know who the parties are and why you are pursuing the action(s) being taken (which, generally speaking, is to protect the interests of the Company and to address any alleged wrongdoing and harm that it has sustained as a result of its wayward fiduciaries’ actions).
Confer with us at any time you feel it is necessary to do so. Likewise, you need to be responsive if we feel it is necessary to discuss this matter.
Vigorously prosecute the matter by authorizing us to do what is necessary to successfully prosecute this case on behalf of the Company.
Participate in discovery. If defendants serve written discovery requests or ask to depose you, we will assist in preparing responses and defend you at any deposition.
Preserve all documents that relate to this case until it has concluded, or we inform you otherwise. Documents include any information you have about the Company, no matter how it is recorded or who is keeping it for you. If you have any questions about whether information should be retained, please ask us before destroying any documents or electronic information.
Do not expect special treatment. You have not been promised any special treatment in connection with your pursuit of this matter. If successful, we may, depending on the type of action and/or jurisdiction, ask the judge to award you additional compensation for the time and effort you expend in this matter. You understand that while we may request it, we cannot guarantee that any court will award you any additional compensation.
Understand that litigation is by its nature unpredictable. It is not possible to guarantee a successful result or that a particular result can be obtained within a given timeframe. We appreciate your awareness of and patience with the potential duration of this matter and related steps.
Continue to be a shareholder at all times. In order to maintain standing (or, the legal ability to continue to pursue the action taken) on behalf of the Company, you must be a current and continuous holder of at least some of your shares (even if it is just one share) for the entire duration of the action being taken. Should you decide you need to sell all of your shares in the Company, you must let us know in advance.
Provide documentation evidencing your stock ownership. Please sent to us at your earliest convenience documentation showing that (i) you are a current holder of stock in the Company and (ii) the duration that you have been a current and continuous holder. A PDF statement, trading confirmation, and/or a screenshot will suffice if it shows that you currently hold the stock and the duration for which you have held the shares.
Sincerely,
Frank J. Johnson, Esq.
for Johnson Fistel, LLP
