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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 July 18, 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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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
Settlement Overview
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February 21, 2020 - The court preliminarily approved the settlement.
January 30, 2020 - A stipulation of settlement was filed by the parties.
September 19, 2018 - The court granted in part and denied in part the defendants' motion to dismiss.
December 21, 2017 - A motion to dismiss the amended consolidated complaint was filed.
November 16, 2017 - An amended consolidated complaint was filed.
July 10, 2017 - An investor in shares of HD Supply Holdings Inc (NASDAQ: HDS) filed a lawsuit in the U.S. District Court for the Northern District of Georgia over alleged violations of Federal Securities Laws by HD Supply Holdings Inc in connection with certain allegedly false and misleading statements made between November 9, 2016 and June 5, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of HD Supply Holdings Inc (NASDAQ: HDS) common shares between November 9, 2016 and June 5, 2017, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between November 9, 2016 and June 5, 2017, the defendants made false and/or misleading statements and/or failed to disclose that HD Supply Holdings Inc's full year 2017 growth and operational leverage targets were unattainable, that the operational recovery of its Facilities Maintenance supply chain was not going according to plan, that the Company was exploring the sale of its Waterworks segment, that defendant Joseph DeAngelo, with full knowledge of the undisclosed materially adverse facts alleged herein, embarked on a selling spree of personal holdings of HD Supply Holdings Inc stock that netted him over $54 million in proceeds, and that as a result of the foregoing, defendants' statements about HD Supply Holdings Inc's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
Atlanta, GA based HD Supply Holdings Inc is an industrial distributor in North America.
HD Supply Holdings Inc reported that its Total Revenue rose from over $7.12 billion for the 52 weeks period that ended on January 31, 2016 to over $7.43 billion for the 52 weeks period that ended on January 29, 2017 and that its Net Income for those respective time periods declined from over $1.32 billion to $204.00 million. On June 06, 2017, HD Supply Holdings Inc announced its fiscal 2017 first-quarter results and issued its second-quarter 2017 outlook.
Shares of HD Supply Holdings Inc (NASDAQ: HDS) declined to $28.97 per share on July 12, 2017.