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Big Lots Inc (NYSE: BIG) Investor Securities Class Action Lawsuit 07/09/2012

  • You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of October 8, 2018 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Big Lots, Inc.
Security
NYSE: BIG

Case Name
Big Lots Shareholder Class Action Lawsuit 07/09/2012
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of Ohio

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
big_lots_inc_settlement_notice_6_2018.pdf
Settlement Proof
big_lots_inc_settlement_proof_6_2018.pdf
Filed Complaint
big_lots_inc_original_filing_edited_7_2012.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$38,000,000.00
Deadline to Participate in Settlement

You must register to view and download the Settlement Notice and Settlement Proof.

Summary

June 25, 2018 - The court preliminarily approved the settlement.

May 18, 2018 - A stipulation of settlement was filed by the parties.

January 21, 2016 - The court granted in part and denied in part defendants' motion to dismiss.

May 6, 2013 - A motion to dismiss the amended complaint was filed.

April 4, 2013 - An amended complaint was filed.

July 9, 2012 - An investor in shares of Big Lots Inc (NYSE: BIG) filed a lawsuit in the U.S. District Court for the Southern District of Ohio against Big Lots Inc over alleged violations of Federal securities laws in connection with certain financial statements made between February 2, 2012 and April 23, 2012.

According to the complaint the plaintiff alleges on behalf purchasers of Big Lots Inc (NYSE: BIG) common stock during the period between February 2, 2012 and April 23, 2012, that Big Lots Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between February 2, 2012 and April 23, 2012, defendants issued materially false and misleading statements regarding Big Lots Inc's business and financial results. Big Lots Inc reported that its Total Revenue rose from $4.64 billion for a 52 weeks period ending on January 31, 2009 to $5.2 billion for a 52 weeks period ending on Jan. 28, 2012 and its Net Income rose from $154.80 million to $207.24 million for the respective time periods.The plaintiff alleges that as a result of defendants' allegedly false statements, Big Lots stock (NYSE: BIG) traded at artificially inflated prices between February 2, 2012 and April 23, 2012, reaching a high of $46.81 per share on March 27, 2012.

Then on April 23, 2012, after the market closed, Big Lots Inc provided an update on its First Quarter Sales Guidance. Big Lots Inc, among other things, said that it expects U.S. comparable store sales to be slightly negative compared to its prior guidance.

Shares of Big Lots Inc (NYSE: BIG) fell from $45.65 per share on April 23, 2012 to a close of $34.71 per share on April 24, 2012.

On July 9, 2012, Big Lots Inc (NYSE: BIG) shares closed at $40.24 per share.

big_lots_inc_original_filing_edited_7_2012.pdf
Date Settled