The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (“Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional details.
Please also be advised that the Court-appointed Lead Plaintiffs, Employees’ Retirement Fund of the City of Fort Worth d/b/a Fort Worth Employees’ Retirement Fund and The City of Miami General Employees’ & Sanitation Employees’ Retirement Trust (together, “Lead Plaintiffs”), on behalf of themselves and the Settlement Class (as defined in paragraph 27 of the Notice), have settled the Action for $30,000,000 in cash (the “Settlement”).
On May 24, 2024, the Court held a hearing to consider final approval of the Settlement and other matters. The same day, the Court entered an order finally approving the Settlement, an order approving the Plan of Allocation, and an order approving Lead Counsel’s motion for attorney's fees and litigation expenses.
Claims administration commenced in the spring of 2024 and was completed in the spring of 2025. On March 14, 2025, Lead Counsel filed its Distribution Motion. On March 28, 2025, the Court approved the Distribution Motion.
The Claims Administrator conducted an initial distribution of the settlement funds to eligible claimants in June 2025
The second distribution will occur in the second quarter of 2026. Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available.
If you have questions, you may call the James River Securities Settlement Helpline at (877)-495-0945 or email info@JamesRiverSecuritiesLitigation.com.