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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 May 30, 2019 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
You must register to view and download the Settlement Notice and Settlement Proof.
February 22, 2019 - The court preliminarily approved the settlement.
January 30, 2019 - A stipulation of settlement was filed by the parties.
March 2, 2018 - The court granted in part and denied in part defendants' motion to dismiss.
October 24, 2017 - A motion to dismiss the second amended complaint was filed.
October 10, 2017 - A second amended complaint was filed.
September 26, 2017 - The court granted in part and denied in part defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.
May 30, 2017 - A motion to dismiss the amended complaint was filed.
April 24, 2017 - An amended complaint was filed.
August 12, 2016 - An investor in shares of Orbital ATK Inc (NYSE: OA) filed a lawsuit in the U.S. District Court for the Eastern District of Virginia over alleged violations of Federal Securities Laws by Orbital ATK Inc in connection with certain allegedly false and misleading statements made between June 1, 2015 and August 9, 2016.
According to the complaint the plaintiff alleges on behalf of purchasers of Orbital ATK Inc (NYSE: OA) common shares between June 1, 2015 and August 9, 2016, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between June 1, 2015 and August 9, 2016 the defendants made false and/or misleading statements and/or failed to disclose that Orbital ATK Inc lacked effective control over financial reporting, that as a result, the Company failed to record an anticipated loss on the Contract after the loss became evident in 2015, as required by generally accepted accounting principles, and that as a result of the foregoing, Orbital ATK Inc’s public statements were materially false and misleading at all relevant times.
On August 10, 2016, Orbital ATK Inc, formerly Alliant Techsystems Inc, announced that it expects to restate its financial statements for the fiscal year ended March 31, 2015 (“fiscal 2015”), the nine-month transition period ended December 31, 2015 (“2015 transition period”), the quarters in fiscal 2015 and the 2015 transition period, and the quarter ended April 3, 2016. The misstatements Orbital ATK Inc identified relate primarily to Orbital ATK Inc’s $2.3 billion long-term contract with the U.S. Army to manufacture and supply small caliber ammunition at the U.S. Army’s Lake City Army Ammunition Plant.
Shares of Orbital ATK Inc (NYSE: OA) declined on August 10, 2016 to as low as $67.04 per share.