Master File No. 2:12-cv-00281-VEH
Welcome to the settlement website for the
In re Walter Energy, Inc. Securities Litigation
The purpose of this website is to inform you of the pendency of the In re Walter Energy, Inc. Securities Litigation (the “Action”) as a class action and the proposed settlement of the Action (the “Settlement”)1 and of the hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement as well as counsel’s application for fees, costs, and expenses. Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation, both of which can be found and downloaded from this website.
The Notice describes in detail the rights you may have in connection with your participation in the Settlement, what steps you may take in relation to the Settlement and this class action, and, alternatively, what steps you must take if you wish to be excluded from the Settlement Class and this Action. If you are a member of the Settlement Class (as defined in the Notice), your legal rights are affected whether you act or do not act. Please read the Notice and other relevant case documents to fully understand your rights.
The Settlement resolves a lawsuit over whether Keith Calder, Walter Scheller, Neil Winkelmann and Joseph Leonard (“Defendants”) made materially false and misleading statements and failed to state certain facts regarding Walter Energy’s operating condition and financial prospects during the Settlement Class Period (i.e, April 20, 2011 through September 21, 2011). The Action asserts that, as a result of Defendants’ allegedly false and misleading statements, Walter Energy’s common stock traded at inflated levels during the Settlement Class Period. Defendants deny that they are liable to the Settlement Class and deny that the Settlement Class has suffered any damages.
If approved by the Court, the Settlement will provide twenty-five million dollars ($25,000,000.00) to pay claims from investors who purchased or otherwise acquired the publicly traded common stock of Walter Energy, Inc. between April 20, 2011 and September 21, 2011, both dates inclusive, and were damaged thereby.
The Court will review the Settlement at the Settlement Hearing scheduled on May 2, 2016 at 10:00 a.m.
|YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT:|
|SUBMIT A CLAIM FORM||The only way to get a payment. Proof of Claim forms must be postmarked or submitted online on or before May 9, 2016.|
|EXCLUDE YOURSELF||Get no payment. This is the only option that allows you to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims in this case. Exclusions must be received on or before March 11, 2016.|
|OBJECT||Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees, costs, and expenses. You will still be a member of the Settlement Class. Objections must be received by the Court and counsel on or before March 11, 2016.|
|GO TO A HEARING||Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel on or before March 11, 2016.|
|DO NOTHING||Get no payment. Give up your rights. You will remain a member of the Settlement Class.|
1All capitalized terms used on this website are defined in the Stipulation and Agreement of Settlement dated July 15, 2015 (the “Stipulation”).