Who is a Class Member
- Anyone who purchased or acquired CHC Group Ltd. common stock from January 16, 2014 to July 10, 2014
- The settlement amount will be based on how many people file claims (the total settlement pool is $3,850,000)
Proof of Purchase
- Not required (simply file a claim form with the class members name and contact information)
CHC Group Securities Class Action Settlement
- Rudman, et al v. CHC Group, Ltd., et al.
- United States District Court for the Southern District of New York
A class action lawsuit was filed against CHC claiming that CHC’s January 16, 2014 IPO Offering materials omitted to disclose that one of CHC’s two largest customers, Petroleo Brasileiro S.A. had stopped making payments on its contracts with CHC starting as far back as April, 2013. Class members claim that this disclosure caused CHC’s stock price to decline $7.63 per share, nearly 12% below its July 9, 2014 closing price, and more than 23% below the January 16, 2014 IPO price.
CHC Group Securities class members will be represented by Andrew J. Levander, Neil A. Steiner, Andrew Spievack, and Sarah Lyons from Dechert LLP. CHC has retained the services of Charles S. Duggan, Andrew Ditchfield, and Alyssa Beaver Gomez from Davis Polk & Wardwell LLP.
- November 2, 2017: claim form deadline
September 11, 2017: exclude or object to settlement deadline September 11, 2017: settlement fairness hearing to determine of the settlement is fair and reasonable
- Mail: Rudman, et al v. CHC Group, Ltd., et al.Claims Administratorc/o A.B. Data, Ltd., P.O. Box 170700, Milwaukee, WI 53217
- Phone: 1-866-905-8103
- Email: email@example.com