Settlement of Alan Willis v. Big Lots, Inc., et al.
Case No. 2:12-cv-00604-MHW-KAJ
The parties have reached a settlement of this action, pending in the United States District Court for the Southern District of Ohio, Eastern Division. The settlement provides for the payment of $38,000,000 for the benefit of eligible Class Members. Class Representatives City of Pontiac General Employees’ Retirement System and Teamsters Local 237 Additional Security Benefit Fund alleged Defendants violated SEC Rule 10b-5 and Sections 10(b), 20A and 20(a) of the Securities Exchange Act of 1934 by providing false and misleading information to investors regarding Big Lots, Inc.’s (“Big Lots” or the “Company”) performance and prospects between February 2, 2012 and August 23, 2012, which artificially inflated the price of Big Lots’ stock.
The Class consists of all Persons who purchased the common stock of Big Lots between March 2, 2012 and August 23, 2012. Excluded from the Class are Defendants, the officers and directors of the Company, members of their immediate families and their legal representatives, heirs, successors, or assigns of any entity in which Defendants have or had a controlling interest. Also excluded from the Class are those Persons who timely and validly requested exclusion from the Class pursuant to the Notice of Pendency and Proposed Settlement of Class Action sent to Class Members pursuant to the Preliminary Approval Order.
The settlement received final approval from the Court on November 9, 2018.
If you have any questions about the settlement or the litigation, please contact Rick Nelson at 1-800-449-4900.