Winn-Dixie Stores, Inc.

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Winn-Dixie Stores, Inc. Securities Settlement

The lawsuit was settled for $9 million in cash. The Settlement provides two distinct avenues for Class Members to potentially receive more money for their Winn-Dixie shares than was provided in the Merger: (a) a cash-payment Common Fund, and (b) an opt-in Appraisal Proceeding. Class Members who timely submit a valid Proof of Claim Form are eligible to participate in a fund of nine million dollars ($9,000,000.00). As an alternative to the $9 million Common-Fund option, Class Members have the alternative option of having the fair value of their Winn-Dixie shares determined by a neutral arbitrator through an optional Appraisal Proceeding. This avenue provides potential cash payments totaling up to two-and-a-half million dollars ($2,500,000.00). Class Members who elect this option may try to obtain up to $3.50 (above and beyond the Merger price of $9.50) per share. If a Class Member chooses the opt-in Appraisal Proceeding, he, she, or it will be required to deposit $1.00 per share by October 21, 2014 (Appraisal Risk Amount) in order to be eligible to participate. The following is a summary of the proceedings in the lawsuit: ‘Lead Plaintiffs filed a class action lawsuit claiming that Winn-Dixie board of directors breached their fiduciary duties by agreeing to sell Winn-Dixie to BI-LO, LLC for $9.50 per share, and that BI-LO and its affiliates aided and abetted those alleged breaches of fiduciary duties. Lead Plaintiffs allege that, inter alia, Winn-Dixie shares were undervalued in the sale of Winn-Dixie for $9.50 per share.’

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