Robbins Geller Rudman & Dowd LLP Announce Proposed Settlement in the ADT Inc. Securities Settlement

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the ADT Inc. Securities Settlement:

IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT
IN AND FOR PALM BEACH COUNTY, FLORIDA
CIVIL DIVISION

In re ADT INC. SHAREHOLDER LITIGATION

This Document Relates To:

ALL ACTIONS.

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Case No. 502018CA003494XXXXMB-AG

 

CLASS ACTION

 

SUMMARY NOTICE OF PROPOSED
SETTLEMENT OF CLASS ACTIONS

TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF ADT INC. (“ADT” OR THE “COMPANY”) AT ANY TIME DURING THE PERIOD BEGINNING ON JANUARY 19, 2018 THROUGH AND INCLUDING MAY 21, 2018, AND WERE DAMAGED THEREBY (“SETTLEMENT CLASS MEMBERS”)

THIS NOTICE WAS AUTHORIZED BY A COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on January 12, 2021, at 2:00 p.m., before the Honorable Donald Hafele at the Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County, Florida, 205 North Dixie Highway, West Palm Beach, Florida 33401 (the “State Court”), to determine whether to approve a proposed $30 million settlement (the “Settlement”) that will resolve shareholder claims concerning the disclosures that ADT made in connection with its January 2018 initial public offering (“IPO”).¹ A more detailed notice that describes the litigation and the Settlement (the “Notice”) as well as the Stipulation of Settlement (“Stipulation”) that sets forth the terms of the Settlement² are available online at www.ADTSecuritiesLitigation.com, or can be obtained by writing to:

ADT Securities Litigation Settlement
Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 43352
Providence, RI 02940-3352

The proposed Settlement involves putative class action suits filed in the State Court and in the United States District Court for the Southern District of Florida alleging that certain disclosures made in connection with ADT’s IPO were false and misleading, and violated the federal securities laws. Defendants deny all of the Plaintiffs’ allegations. Under the proposed Settlement, $30 million will be paid to a settlement fund for distribution to Settlement Class Members who submit timely and valid Proof of Claim forms, after deduction of notice and administration costs and any court-approved attorneys’ fees and expenses to Plaintiffs’ Counsel. Following approval of the Settlement by the State Court, the pending lawsuit will be dismissed with prejudice and all claims against the Defendants will be discharged and released. The Settlement is not an admission of liability on the part of any Defendant.