ATTENTION ALL SETTLEMENT CLASS MEMBERS - IMPORTANT UPDATE REGARDING THE SETTLEMENT HEARING
ANNOUNCEMENT: The Settlement Hearing took place on January 27, 2022. The Settlement and Plan of Allocation have been approved. Please refer to the Order and Final Judgment, entered March 24, 2022 for additional information.
The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action and Motion for Attorneys' Fees and Expenses. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
The purpose of this website is to inform you of a securities class action, and the Settlement of the Action. The Notice describes important rights you may have and what steps you must take if you wish to participate in the Settlement of this securities class action.
The Settlement resolves claims by Court-appointed Lead Plaintiffs The Gabelli Asset Fund, The Gabelli Dividend & Income Trust, Gabelli Focused Growth and Income Fund f/k/a The Gabelli Focus Five Fund, The Gabelli Multimedia Trust Inc., The Gabelli Value 25 Fund Inc., GAMCO International SICAV, GAMCO Asset Management Inc., Naya 1740 Fund Ltd., Naya Coldwater Fund Ltd., Naya Master Fund LP and Nayawood LP and additional Plaintiff Oklahoma Firefighters Pension and Retirement System that have been asserted on behalf of the Settlement Class (defined in the Notice) against Defendants Resideo Technologies, Inc., Michael G. Nefkens, Joseph D. Ragan III and Niccolo de Masi. It avoids the costs and risks of continuing the Action; pays money to eligible investors; and releases the Released Defendant Parties (defined in the Notice) from liability.
The Settlement has created a $55 million cash fund, plus earned interest, if any, for the benefit of eligible Settlement Class Members after the deduction of Court-approved fees, expenses and Taxes. This is an average recovery of approximately $0.32 per allegedly damaged share before deductions for awarded attorneys’ fees and litigation expenses, and $0.24 per allegedly damaged share after deductions for awarded attorneys’ fees and litigation expenses.
The Settlement Class consists of:
All persons and entities who or which purchased or otherwise acquired the common stock of Resideo during the period from October 15, 2018 through November 6, 2019, inclusive, and were damaged thereby.
If you are a member of the Settlement Class, your legal rights will be affected whether you act or do not act. Please read the Notice to fully understand your rights and options.
The Court has approved the Settlement and plan of allocation. Payments to eligible claimants will be made after the completion of all claims processing. Please be patient, as this process will take some time to complete.
How do I obtain more information?
Detailed information about the Action and the Settlement is contained in the Notice. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-833-823-0043; or emailing Info@ResideoTechnologiesSettlement.com or mailing a letter to:
Resideo Technologies Settlement
c/o JND Legal Administration
PO Box 91250
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.