Settlement Proposal Announced for Pilgrim's Pride Securities Case
Understanding the Proposed Settlement for Pilgrim's Pride Corporation
A significant development has emerged regarding the collective rights of individuals and entities that purchased or secured securities from Pilgrim's Pride Corporation. This pertains specifically to the time frame between February 21, 2014, and November 17, 2016, creating a wave of interest and concern among shareholders.
Details of the Settlement
The proposed settlement is set to address claims associated with the legal proceedings known as In re Pilgrim's Pride Corporation Securities Litigation, which is being reviewed in a court. This settlement is under consideration by the esteemed United States District Court for the District of Colorado, and it presents an opportunity for those affected by the situation.
Hearing Information
A pivotal hearing is anticipated, where stakeholders will discuss several critical aspects of the case. The hearing, presided over by the Honorable R. Brooke Jackson, will be conducted to determine several key issues. Primarily, it will assess whether the proposed settlement amounting to approximately $41.5 million is deemed fair and reasonable from a legal standpoint.
Distribution of Funds
Focus will also be placed on the Plan of Allocation, which outlines the method of distributing funds among eligible claimants. Individuals who acquired Pilgrim's Pride securities during the specified period may find their rights affected by this settlement. Therefore, it's crucial for them to stay informed about the proceedings and what they may need to do.
How to Participate in the Settlement
For those interested in being part of the claim settlement process, there are steps to follow to ensure eligibility. Stakeholders need to be proactive; submitting a Proof of Claim and Release is essential for sharing in any potential distribution of the net settlement funds. This action must be carried out electronically or by mail no later than a specific deadline, which will be communicated in further notices.
Exclusion Necessities
If any claimant desires to exclude themselves from the settlement class, they must submit their request by the designated date. This is outlined in the detailed notice provided to potential claimants. Those who do not timely request exclusion will be bound by the court's decision, which will be enforced in accordance with the stipulations laid out in the settlement agreement.
Contact Information for Queries
Any inquiries regarding the settlement can be directed to the Lead Counsel, whose contact information is available in the notices. It's paramount that claimants avoid attempting to reach the court or the clerkâs office, which will not handle settlement inquiries of this nature.
Conclusion and Next Steps
The processes surrounding the proposed settlement for Pilgrim's Pride Corporation signify a serious juncture for all parties involved. Active monitoring of updates will be crucial as individuals navigate their rights and options. Following the details released by Kroll Settlement Administration is essential for staying informed.
Frequently Asked Questions
What is the settlement amount for Pilgrim's Pride Corporation?
The proposed settlement amount is approximately $41.5 million.
Who is eligible to claim under this settlement?
Anyone who purchased Pilgrim's Pride Corporation securities between February 21, 2014, and November 17, 2016, is eligible to claim.
What must I do to participate in the settlement?
You must submit a Proof of Claim and Release by the specified deadline to be eligible for the settlement distribution.
How can I exclude myself from the settlement?
To exclude yourself, you must submit a Request for Exclusion by the deadline explained in the detailed notice provided.
Where can I find more information about this settlement?
Further information can be found through the notices issued by Kroll Settlement Administration or by contacting Lead Counsel directly.
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