The Rosen Law Firm, P.A. Announces Proposed Settlement on Behalf of Record and Beneficial Owners of Alliance Entertainment Holding Corp. f/k/a Adara Acquisition Corp. Class A Common Stock

Core Viewpoint - The Delaware Court of Chancery has approved a proposed settlement for stockholders of Alliance Entertainment Holding Corp., involving a cash settlement of $511,000 to resolve claims in a class action lawsuit [4][5]. Group 1: Settlement Details - The proposed settlement amount is $511,000, which will resolve all claims in the class action lawsuit [4]. - The settlement is intended for record and beneficial owners of Class A common stock who held redeemable stock but did not redeem by December 8, 2022, and those who held unredeemed stock at the time of the merger [1][8]. - A hearing to finalize the settlement will take place on June 17, 2025, to determine various aspects including class certification and the fairness of the settlement [5][6]. Group 2: Class Member Rights - Class members may be entitled to share in the Net Settlement Fund, which will be distributed on a pro rata basis according to the proposed Plan of Allocation [9]. - Eligible Class Members do not need to submit a claim form to receive a payment from the Net Settlement Fund [9]. - Any objections to the settlement must be submitted by June 2, 2025, to the appropriate parties as outlined in the notice [10].