Settlement of Alan B. Marcus v. J.C. Penney Company, Inc., et al.
Civil Action No. 6:13-cv-00736-RWS-KNM
The parties have reached a settlement of this action, pending in the United States District Court for the Eastern District of Texas, Tyler Division. The settlement provides for the payment of $97,500,000 for the benefit of eligible Class Members. Lead Plaintiff the National Shopmen Pension Fund alleged defendants made false and misleading statements to investors concerning J.C. Penney Company, Inc.’s (“JCPenney”) liquidity, need for additional financing, sufficiency of inventory, and strength of supplier relationships that artificially inflated JCPenney’s stock price, and those statements resulted in substantial damage to the Class.
The Class consists of all persons who purchased or otherwise acquired JCPenney common stock or call options, or who sold JCPenney put options, between August 20, 2013 and September 26, 2013, inclusive (the “Class Period”). Excluded from the Class are any current or former defendant and any current or former director, officer, subsidiary and affiliate of JCPenney, or members of the immediate family of current and former defendants, as well as any person, firm, trust, corporation, officer, director or other individual or entity in which any current or former defendant has a controlling interest, and the legal representatives, affiliates, heirs, successors-in-interest or assigns of any such excluded party.
The settlement was preliminarily approved by the Court on July 24, 2017. The Court has rescheduled the final approval hearing for December 5, 2017, at 10:00 a.m.
If you are a Class Member, to receive a payment from the settlement proceeds, you must submit a claim form postmarked no later than November 6, 2017. The claim form can be obtained by clicking on the Proof of Claim and Release link below.
Alternatively, you can submit your claim online. Online claims must be submitted by November 6, 2017. For more information, and to file your claim online, visit the Claims Administrator’s JCPenney Securities Litigation website at www.jcpenneysecuritieslitigation.com.
If you have any questions about the settlement or the litigation, please contact Rick Nelson at 1-800-449-4900.