Alliance Entertainment Faces Court-Approved Settlement

The Rosen Law Firm has announced a proposed settlement relating to Alliance Entertainment Holding Corp., formerly known as Adara Acquisition Corp., in a class action lawsuit. The case, pending in the Court of Chancery of the State of Delaware, involves stockholders who held redeemable stock in the company and chose not to redeem, or had unredeemed stock at the time of the merger. The settlement, involving a payment of $511,000 in cash, aims to address claims against Alliance Entertainment and its executives, contributing to the resolution of the action. A settlement hearing is scheduled for June 17, 2025, where the court will evaluate the certification of the class, the adequacy of the representation, and determine whether the settlement is fair and reasonable. This settlement will involve a distribution to eligible class members based on a pro rata plan of allocation. Class members are notified of their rights and the potential impact on their ownership interest, including the extinguishment of claims related to their stock. Legal inquiries should be directed to the Rosen Law Firm or Strategic Claims Services.