WELCOME TO THE GTAT SECURITIES LITIGATION WEBSITE
Levy v. Gutierrez, et al., United States District Court for the District of New Hampshire, Case No. 1:14-cv-00443-JL (GTAT Securities Litigation) (the "Action").
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 Certification of Settlement Classes; (II) Proposed Settlements with Individual Defendants and Underwriter Defendants; (III) Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses; and (IV) Settlement Fairness Hearing (the “Notice”). Because this website is only a summary, you should review the Notice for additional details.
Court-appointed Lead Plaintiff Douglas Kurz (“Lead Plaintiff”) and additional named plaintiffs Strategic Master Fund (Cayman) Limited (“Strategic Master Fund”) and Highmark Limited, in respect of its Segregated Account Highmark Fixed Income 2 (“Highmark Limited”) (Highmark Limited and Strategic Master Fund together are the “Securities Act Plaintiffs,” and together with Lead Plaintiff, the “Plaintiffs”) have reached two settlements in this Action: (i) a settlement with the Individual Defendants for $27,000,000 in cash, which resolved all claims brought in the Action on behalf of the Individual Defendant Settlement Class (defined below); and (ii) a settlement with the Underwriter Defendants for $9,700,000 in cash (the “Underwriter Defendant Settlement” and, together with the Individual Defendant Settlement, the “Settlements”), which resolved all claims brought in the Action on behalf of the Underwriter Defendant Settlement Class (defined below). Following a hearing on June 28, 2018, the Court entered Judgments finally approving the Settlements. The Court also entered separate Orders approving the Plan of Allocation for the proceeds of the Settlements and awarding Plaintiffs’ Counsel attorneys’ fees and reimbursement of Litigation Expenses. The approved Settlements do not settle any of the claims asserted against the remaining defendant in the Action, Apple, Inc.
The Settlement Classes consists of:
The Individual Defendant Settlement Class:
all persons and entities who or which from November 5, 2013 through 9:40 a.m. Eastern Standard Time on October 6, 2014, inclusive (the “Class Period”) purchased or otherwise acquired publicly traded GTAT common stock (“GTAT Common Stock”) and/or publicly traded GTAT 3.00% Convertible Senior Notes Due 2020 (“GTAT Senior Notes”), purchased or otherwise acquired publicly traded call options on GTAT common stock (“GTAT Call Options”), and/or sold (wrote) publicly traded put options on GTAT common stock (“GTAT Put Options”), and were damaged thereby.
The Underwriter Defendant Settlement Class:
all persons and entities who or which from November 5, 2013 through 9:40 a.m. Eastern Standard Time on October 6, 2014, inclusive (the “Class Period”) purchased or otherwise acquired (i) GTAT Senior Notes pursuant or traceable to GTAT’s December 2013 registration statement and prospectus supplement for the GTAT Senior Notes’ offering (the “Senior Notes Offering”) and/or (ii) shares of GTAT Common Stock pursuant or traceable to GTAT’s December 2013 registration statement and prospectus supplement for the secondary offering of GTAT common stock (the “Common Stock Secondary Offering”).
If you are a member of one or both of the Settlement Classes, in order to be potentially eligible to receive a payment under the Settlement(s), you must submit a Claim Form postmarked no later than July 12, 2018. Payments to eligible claimants will be made only after the completion of all claims processing. Please be patient, as this process will take some time to complete.