Facebook, Inc. IPO Securities and Derivative Litigation

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Facebook, Inc. IPO Securities and Derivative Litigation
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Informations En Francais
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The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Proposed Settlement and Plan of Allocation; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys’ Fees and Litigation Expenses (the “Notice”), which you can access by clicking here.  Because this website is just a summary, you should review the Notice for additional details.

Lead Plaintiffs Arkansas Teacher Retirement System and Fresno County Employees’ Retirement Association, on behalf of themselves and the Court-certified Class, have reached a settlement for a total of $35,000,000 in cash that, resolves all claims in the Action (the “Settlement”).


The Court held a hearing on September 5, 2018 to consider whether the Settlement should be approved and related matters.  On November 26, 2018, the Court entered an opinion granting Lead Plaintiffs’ motion for final approval of the Settlement and approval of the proposed Plan of Allocation and Lead Counsel’s motion for attorneys’ fees and expenses. The Court also entered a Judgment Approving Class Action Settlement, an Order Approving the Plan of Allocation of Net Settlement Fund, and an Order Awarding Attorneys' Fees and Expenses.


If you are a member of the Class and have not previously sought exclusion from the Class in connection with the Class Notice that was previously mailed, your rights will be affected and you may be eligible for a payment from the Settlement.  The Class consists of the following two “Subclasses”:

   (i)         All institutional investors that purchased or otherwise acquired Facebook Class A common stock in or traceable to the Company’s IPO between May 17 and 21, 2012, inclusive, and were damaged thereby (the “Institutional Investor Subclass”); and

    (ii)        All retail investors who purchased or otherwise acquired Facebook Class A common stock in or traceable to the Company’s IPO between May 17 and 21, 2012, inclusive, and were damaged thereby (the “Retail Investor Subclass”).

For the full definition of the Class, including persons and entities excluded from the Class, please read the Notice. 

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

Des traductions en français de l'Avis de transaction (Notice) et du Formulaire de réclamation (Claim Form) sont disponibles sous le lien “Informations en français” dans le menu à gauche de cette page.

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.


IMPORTANT DATES

JULY 24, 2018

Claim Filing Deadline.  The Court-ordered deadline for submission of Claim Forms was July 24, 2018. However, if you believe you are a Class Member and you wish to be eligible for a payment and you have not yet submitted a Claim Form (because you received a late Notice Packet or for any other reason), please submit your Claim Form and supporting documentation as soon as possible. While we cannot guarantee that the Court will accept late claims, if your claim is otherwise eligible, Lead Counsel will ask the Court to accept it.


Please read the Notice carefully.  If you have questions, you may call the Facebook Securities Litigation Help Line at 866-963-9974 or email info@FacebookSecuritiesLitigation.com.  


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