Frontier Communications Corporation Securities Litigation

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Frontier Communications Corporation Securities Litigation
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The information contained on this website 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 and Award of Attorneys’ Fees and Litigation Expenses (the “Notice”), which you can access by clicking hereSince this website is just a summary, you should review the Notice for additional details.

Lead Plaintiffs Arkansas Teacher Retirement System and Carlos Lagomarsino (collectively, “Lead Plaintiffs”), on behalf of themselves and the Settlement Class (as defined in below), have reached a settlement of the Action for $15,500,000 in cash.

On May 10, 2022, the Court held a hearing to consider final approval of the Settlement and related matters.   On May 20, 2022, the Court entered an Order granting Lead Plaintiffs’ motion for final approval of the Settlement and Plan of Allocation and Lead Counsel’s motion for attorneys’ fees and expenses. On June 29, 2022, the Clerk of the Court entered a Judgment consistent with the Court’s May 20, 2022 Order and closing this case.

If you are a member of the Settlement Class, you are subject to the Settlement and you may be eligible for a payment from the Settlement, unless you timely and validly request to be excluded.  The Settlement Class consists of: 

All persons and entities who purchased or otherwise acquired shares of publicly traded common stock and Mandatory Convertible Preferred Stock of Frontier Communications Corporation between April 25, 2016 and October 31, 2017, inclusive (the “Class Period”), and who allegedly damaged thereby. 

Excluded from the Settlement Class: (iDefendants and all Former Defendants; (ii) the Immediate Family Members of any Individual Defendant or any Former Defendant; (iii) any person who was an Officer, director, or partner of Frontier or any Former Defendant during the Class Period and any of their Immediate Family Members; (iv) any parent, subsidiary, or affiliate of Frontier or any Former Defendant; (v) any firm, trust, corporation, or other entity in which any Defendant, any Former Defendant, or any other excluded person or entity has, or had during the Class Period, a controlling interest; and (vi) the legal representatives, agents, affiliates, heirs, successors-in-interest, or assigns of any such excluded persons or entities.  Also excluded from the Settlement Class are any persons or entities who or which exclude themselves by submitting a request for exclusion in accordance with the requirements set forth in the Notice.

Please read the 
Notice to fully understand your rights and options. Copies of the Notice
 and Claim Form can be found in the menu on the left of this page.

To be eligible to receive a payment under the Settlement, you must submit a Claim Form postmarked (if mailed) or submitted online no later than
June 15, 2022.

Payments to eligible claimants will be made only after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process will take some time to complete.

Please read the Notice carefully.  If you have questions, you may call the Frontier Communications Securities Litigation Help Line at 1-877-311-3734 or email info@FrontierCommunicationsSecuritiesLitigation.com.
 

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:

SUBMIT A CLAIM FORM POSTMARKED (IF MAILED), OR ONLINE,
NO LATER THAN JUNE 15, 2022.

This is the only way to be eligible to receive a payment from the Net Settlement Fund. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (defined in ¶ 38 of the Notice) that you have against Defendants and the other Defendants’ Releasees (defined in ¶ 39 of the Notice), so it is in your interest to submit a Claim Form.

DO NOTHING.

If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.

 


  

 

 


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