The Alphabet Securities Settlement involves a proposed $350 million settlement. To participate, submit your claim by July 25, 2024. The final hearing is scheduled for September 24, 2024, when the Court will evaluate the settlement’s fairness.
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Alphabet Securities Settlement
The Alphabet Securities Settlement involves a class action lawsuit between the State of Rhode Island, the Office of the Rhode Island Treasurer (acting as the Lead Plaintiff) and several defendants, including Alphabet, Inc. and certain individuals.
After contentious discovery disputes, the parties engaged in mediation. On October 20, 2023, they accepted a mediator’s proposal to resolve the action. The settlement agreement includes a cash payment of $350 million by Alphabet on behalf of the defendants.
The settlement is subject to negotiation and approval by the court. If approved, it will become the largest data privacy and cybersecurity-related securities class action ever recorded. Stay connected to get more information about Alphabet Securities Settlement.
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What is the deadline to file an Alphabet Securities Settlement claim form?
The deadline to submit a timely Proof of Claim for the Alphabet Securities Settlement is July 25, 2024. If you wish to participate in the settlement and be eligible for potential recovery, make sure to act before this date. You have two options for submitting your Proof of Claim which are online or mail submission.
By submitting the Proof of Claim, you become eligible to participate in the distribution of proceeds from the $350 million settlement fund. This fund compensates eligible class members who suffered losses related to the alleged securities violations during the class period (April 23, 2018, through April 30, 2019).
The settlement covers claims related to the now-defunct Google+ social network and allegations of securities fraud and misrepresentation by Alphabet, Inc. and Google LLC. If you qualify, your claim may entitle you to a portion of the settlement fund based on your documented transactions during the specified class period.
When and how much can I get through Alphabet Securities Settlement?
The settlement agreement includes a cash payment of $350 million by Alphabet on behalf of the defendants. As a qualifying member of the Settlement Class, you may be entitled to a portion of the settlement fund. The entire $350 million will be distributed among qualifying participants in the Settlement Class.
To participate, submit a timely Proof of Claim by July 25, 2024. The timing for payout distribution in the Alphabet Securities Settlement depends on several factors.
Approval and Finalization:
- First, the court must approve the settlement agreement. Once approved, the process moves forward. The court typically reviews the settlement terms, considers objections (if any), and ensures fairness to all class members.
Claims Processing:
- After approval, the Claims Administrator reviews submitted Proof of Claim forms. They verify eligibility, calculate individual claim amounts, and compile a list of eligible participants.
Distribution Timeline:
- The actual payout timeline varies. It can take several months or more. Factors affecting timing include the complexity of the case, the number of claims, and administrative processes. You’ll receive updates via mail or email regarding the progress and estimated distribution date.
Patience and Communication:
- Be patient during this process. Settlements involve legal procedures and coordination. If you have questions, visit the official Alphabet Securities Settlement website or contact the Claims Administrator for updates.
Who is entitled to receive the Alphabet Securities Settlement Payout?
Here are the eligibility criteria for receiving the Alphabet Securities Settlement Payout:
Settlement Class Members:
- Anyone who purchased or acquired Alphabet Class A and/or Class C stock between April 23, 2018, and April 30, 2019, is automatically part of the Settlement Class.
Exclusions:
- Defendants, their families, officers, directors, and affiliates are excluded from the Settlement Class.
Submission Deadline:
- To participate in the distribution of proceeds, submit the Proof of Claim and required documentation by July 25, 2024.
How to submit the Alphabet Securities Settlement Claim Form?
Here’s a step-by-step guide on how to file your Alphabet Securities Settlement Claim Form:
Online:
- Visit the Alphabet Securities Settlement website.
- Complete the online Proof of Claim form and remember it may take around 30 minutes.
- According to the requirements provide personal, payment information and upload required documentation in PDF format.
- Lastly double check all information and submit your claim by July 25, 2024.
Mail Submission:
- To file for the Apple Securities Settlement, download the Proof of Claim and Release form.
- Complete the form completely, signing it in accordance with the guidelines.
- Gather all necessary supporting documents.
- Mail the completed form, postmarked no later than July 25, 2024, to:
- Alphabet Securities Settlement Claims Administrator c/o Gilardi & Co. LLC PO Box 301175 Los Angeles, CA 90030-1175
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