Welcome to the Maxar Securities Litigation Website
This website has been established to provide general information related to the proposed settlement of the case known as Oregon Laborers Employers Pension Trust Fund vs. Maxar Technologies Inc., et. al., Civil Action No. 1:19-cv-00124-WJM-SKC, pending before the United States District Court for the District of Colorado (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated September 12, 2022, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected if you purchased or acquired the common stock of Maxar Technologies, Inc. (“Maxar”) from May 9, 2018 through October 30, 2018, inclusive (the “Class Period”).
The law firm of Robbins Geller Rudman & Dowd LLP represents the Class Members. These lawyers are called Lead Counsel. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.
WHAT IS THIS LAWSUIT ABOUT?
As more fully described in the Notice of (I) Proposed Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys’ Fees and Litigation Expenses (the "Notice"), Lead Plaintiff filed an Amended Complaint for Violations of the Federal Securities Laws on October 7, 2019. Lead Plaintiff alleges that, during the Class Period, Defendants made materially false and misleading statements in and omissions concerning the Company’s reported balance sheet assets. The Amended Complaint further alleged that as a result of Defendants’ misrepresentations and omissions, the price of Maxar common stock was artificially inflated during the Class Period.
In the course of the Action, the Settling Parties engaged the services of Gregory P. Lindstrom, Esq., in good faith efforts to resolve the case. The Settling Parties engaged in settlement discussions on multiple occasions and ultimately an agreement was reached to settle the Litigation in return for a cash payment of $27 million for the benefit of the Class.
WHAT DOES THE SETTLEMENT PROVIDE?
The Settlement, if approved, will result in the creation of a cash settlement fund of $27,000,000 (the “Settlement Amount”). The Settlement Amount, plus accrued interest (the “Settlement Fund”) and minus the costs of the Notice and all costs associated with the administration of the Settlement, as well as any attorneys’ fees and expenses that may be approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Class Members pursuant to the Plan of Allocation that is described in the Notice.
ADDITIONAL INFORMATION
Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully. You may also wish to read the answers to Frequently Asked Questions provided on this website.
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
| SUBMIT A PROOF OF CLAIM FORM |
The only way to be eligible to receive a payment from the Settlement. Proof of Claim forms must be postmarked or submitted online on or before October 20, 2023. |
| EXCLUDE YOURSELF |
If you exclude yourself from the Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that potentially allows you to ever be part of any other lawsuit against any of the Defendants or any other Released Defendant Parties concerning the Released Claims. Exclusions must be postmarked on or before September 25, 2023. |
| OBJECT |
If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and litigation expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation or the fee and expense request unless you are a Class Member and do not exclude yourself from the Class. Objections must be filed with the Court and sent to counsel such that is it postmarked on or before September 25, 2023. If you submit a written objection, you may (but do not have to) attend the hearing. |
| GO TO THE HEARING ON NOVEMBER 9, 2023 |
Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel on or before Sepetember 25, 2023. If you submit a written objection, you may (but do not have to) attend the hearing. |
| DO NOTHING |
Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation. |
IMPORTANT DATES AND DEADLINES
| Submit Proof of Claim: |
October 20, 2023 |
| Request Exclusion: |
September 25, 2023 |
| Submit Objection: |
September 25, 2023 |
| File Notice of Intention to Appear: |
September 25, 2023 |
| Settlement Hearing: |
November 9, 2023 at 10:00 a.m. MST |