NOTICE OF SETTLEMENT HEARING BY ZOOM: The Settlement Hearing scheduled for Thursday, January 27, at 9:00 a.m., before the Honorable Wilhelmina M. Wright, United States District Judge, to consider: (I) Plaintiffs' Motion for Final Approval of Class Action Settlement and Plan of Allocation and for Final Certification of the Settlement Class; and (II) Co-Lead Counsel's Motion for an Award of Attorneys' Fees, Reimbursement of Litigation Expenses and Awards Pursuant to 15 U.S.C. 78u-4(a)(4) will be held by telephone. Please follow these instructions to attend.
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 proposed 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, wish to object or wish to be excluded from the Settlement Class.
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.
Pending Court approval, the proposed Settlement will create 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.
Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
|SUBMIT A CLAIM FORM POSTMARKED OR RECEIVED NO LATER THAN MARCH 4, 2022
||The only way to get a payment. See Question 8 in the Notice for details.
|EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS RECEIVED NO LATER THAN JANUARY 6, 2022
||Get no payment. This is the only option that, assuming your claim is timely brought, might allow you to ever bring or be part of any other lawsuit against Defendants and/or the other Released Defendant Parties concerning the Released Claims. See Question 10 in the Notice for details.
RECEIVED NO LATER THAN JANUARY 6, 2022
|Write to the Court about why you do not like the Settlement, the Plan of Allocation for distributing the proceeds of the Settlement, and/or Lead Counsel’s Fee and Expense Application. If you object, you will still be in the Settlement Class. See Question 14 in the Notice for details.
|PARTICIPATE IN A HEARING ON JANUARY 27, 2022 AND FILE A NOTICE OF INTENTION TO APPEAR RECEIVED NO LATER THAN JANUARY 6, 2022
||Ask to speak to the Court at the Settlement Hearing. See Question 18 in the Notice for details.
||Get no payment. Give up rights. Still be bound by the terms of the Settlement.
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.