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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of February 14, 2020 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.
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Lawsuit Overview
Settlement Overview
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September 26, 2019 - The court preliminarily approved the settlement.
September 16, 2019 - A stipulation of settlement was filed by the parties.
September 16, 2016 - The court denied defendants' motion to dismiss.
September 8, 2015 - A motion to dismiss the amended complaint was filed.
July 27, 2015 - An amended complaint was filed.
April 30, 2015 - The case was transferred to the U.S. District Court for the Western District of Texas.
May 21, 2014 - An investor in shares of Dell Inc (NASDAQ: DELL) filed a lawsuit in the U.S. District Court for the Southern District of New York against Dell Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 22, 2012 and May 22, 2012.
According to the complaint the plaintiff alleges on behalf of purchasers of Dell Inc (NASDAQ: DELL) common shares between February 22, 2012 and May 22, 2012, that the defendants violated the Securities Exchange Act of 1934. The plaintiff claims that defendants between February 22, 2012 and May 22, 2012 issued allegedly materially false and misleading statements regarding Dell Inc’s financial performance and future prospects and allegedly failed to disclose adverse facts, including that Dell Inc was experiencing severe market pricing pressures associated with its notebook and desktop personal computer products, particularly in its European, Middle Eastern and African (“EMEA”) and Asia-Pacific, Japanese (“APJ”) markets, that as a result of such extreme pricing pressures, Dell Inc’s management issued a directive not to pursue certain notebook and desktop PC sales in its EMEA and APJ markets, that Dell Inc was experiencing weakening demand for its notebook and desktop PC products, particularly in its EMEA and APJ markets, and that Dell Inc was experiencing material undisclosed operational deficiencies within is sales function that were adversely impacting its Large Enterprise and Public business segments.
On May 22, 2012, after the close of trading, Dell Inc announced its revenues for its fiscal 2013 first quarter, the period ended May 4, 2012 and Dell Inc projected revenues of $14.7 to $15 billion for its fiscal 2013 second quarter. The plaintiff claims that those fiscal 2013 first quarter revenues were approximately one-half billion dollars less than Dell Inc’s guidance and Wall Street estimates and that securities analysts, based on statements made between February 22, 2012 and May 22, 2012, had been projecting revenues of $15.4 billion compared to the projected revenues by Dell Inc on May 22, 2012 for its fiscal 2013 second quarter. Shares of Dell Inc (NASDAQ: DELL) declined from $17.43 per share in late February 2012 to as low as $12.07 per share in early June 2012, respectively $8.859 per share in November 2012.