MONTEVERDE & ASSOCIATES PC ANNOUNCES PROPOSED SETTLEMENT PROCEEDINGS ON BEHALF OF FORMER HOLDERS OF COMMON STOCK OF COVISINT CORPORATION

NEW YORK, July 12, 2024 /PRNewswire/ —

SUMMARY OF NOTES

TO: ALL HOLDERS AND BENEFICIARIES OF SHARES OF COMMON STOCK OF COVISINT CORPORATION (“COVISINT”) WHO HAVE OWNED SUCH SHARES AT ANY TIME BETWEEN 5 JUNE 2017 (DATE OF MERGER AGREEMENT BETWEEN COVISINT AND OPEN TEXT CORPORATION) AND 26 JULY 2017 (THE DATE ON WHICH OPEN TEXT CORPORATION COMPLETED THE ACQUISITION OF COVISINT), EXCLUDING THE DEFENDANTS IN THIS ACTION AND ANY PERSON OR ENTITY RELATED OR ASSOCIATED WITH ANY DEFENDANT (THE “CLASS”).

YOU ARE HEREBY NOTIFIED that pursuant to an order of the Circuit Court for Oakland County, Michiganthat a hearing will take place on October 16, 2024at 10:00 am Eastern Time, before the Honorable Victoria A. Valentine. The hearing will be held in the Circuit Court for Oakland County, MichiganSixth Judicial District, Commercial Court about Virtual Hearing. To join the virtual hearing by computer with video, go to zoom.us and click “Join Call.” When prompted, join using Meeting ID 248 858 5282To participate in the virtual hearing by telephone without video, call 1-646-876-9923 and connect with Meeting ID 248 858 5282. The hearing will be held to determine: (a) whether the Court should finally approve the proposed settlement on the terms set forth in the Agreement as being fair, reasonable and sufficient and in the best interests of the Class Members; (b) whether the Court should enter an order and final judgment dismissing the action on the merits and with respect to the Defendants and giving effect to the releases described in the Agreement; (c) whether the Court should grant the Plaintiffs’ motion for reimbursement of fees and expenses; (d) whether the Class should finally be recognized as an opt-out class; and (e) such other matters as may properly be brought before the Court.

IF YOU PURCHASED, SOLD OR HELD COVISINT COMMON SHARES DURING THE PERIOD FROM AND INCLUDING 5 JUNE 2017BY AND INCLUDING 26 JULY 2017 (THE “CLASS PERIOD”), YOUR LEGAL RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS PROCEEDING, INCLUDING THE WAIVER AND EXTINCTION OF CLAIMS YOU MAY HAVE RELATING TO YOUR PURCHASE OR ACQUISITION OF COVISINT COMMON STOCK DURING THE CLASS PERIOD. If you have not received a detailed notice of the pendency and proposed settlement of the class action lawsuit (“Notice”), you may obtain copies thereof by Merger disputes at Covisint CorporationClaims Administrator, at 1-866-742-4955 or online at www.covisintsettlement.com. If you are a class member, you do not need to take any further steps to share in the distribution of the net settlement fund.

If you purchased, sold or held shares of Covisint common stock during the Class Period and wish to be excluded from the class action, you must submit a Request for Exclusion to have the Class received at the latest 16 September 2024in the manner set out in the detailed notice referred to above. Any Class Member who does not timely and validly request exclusion from the Class will be bound by any judgment rendered in the dispute pursuant to the Settlement, Arrangement and Release Agreement.

Objections to the Settlement, the Plan of Allocation, the plaintiffs’ counsel’s claim for attorneys’ fees and costs, and any award payments to the plaintiffs must be received in paper form and by email to the following recipients: not later than 25 September 2024:

Clerk of the Court:
Clerk of the Court
District Court for Oakland County, Michigan
Sixth Judicial District Commercial Court
1200 North Telegraph Street
Pontiac, Michigan 48341

Plaintiff’s legal counsel:
ACTIVE – 120020 – CALLE MONTEVERDE …
Juan E. Monteverde
The Empire State Building
350 Fifth Avenue
Suites 4740
New York, NY 10118
(email protected)

Legal counsel for the defendant:
PAUL HASTINGS LLP
Christopher H. McGrath
695 City Center Drive
17th floor
Costa Mesa, California 92626
(email protected)

PLEASE DO NOT CONTACT THE COURT OR THE TRACKER REGARDING THIS NOTICE. If you have any questions about the settlement, you may contact Monteverde & Associates PC at the address listed above.

Dated: July 92024

BY ORDER OF THE COURT
DISTRICT COURT FOR
OAKLAND COUNTY, MICHIGAN

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