The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Publicly-Traded Astec Industries, Inc. Common Stock - ASTE

Core Points - The United States District Court for the Eastern District of Tennessee has approved a proposed class action settlement for purchasers of Astec Industries, Inc. common stock [1] - The settlement amount is $13,700,000, and a hearing is scheduled for September 5, 2024, to determine the fairness and adequacy of the settlement [5] - The settlement affects individuals who purchased Astec common stock between July 26, 2016, and October 22, 2018 [4][6] Settlement Details - The proposed settlement includes a plan for distributing the settlement proceeds, which will be evaluated for fairness [5] - Lead Counsel is requesting attorneys' fees of up to one-third of the settlement amount, plus interest, and reimbursement of expenses not exceeding $330,000 [5] - A service payment of no more than $15,000 is proposed for the Lead Plaintiff [5] Claim Process - Individuals wishing to participate in the settlement must submit a Claim Form by August 8, 2024 [6] - Those who wish to be excluded from the settlement class must also submit a request for exclusion by the same date [7] - Objections to the settlement must be submitted by August 8, 2024, following the procedures outlined in the detailed Notice [7]