Frequently Asked Questions
- Why did I get a Notice package?
- Why is there a settlement?
- How do I know if I am a Member of the Class?
- What does the Settlement provide?
- How much will my payment be?
- How can I get a payment?
- When would I get my payment?
- What am I giving up to get a payment or to stay in the Class?
- How do I get out of the Class and the proposed Settlement?
- If I do not exclude myself, can I sue the Defendants and the other Released Defendant Parties for the same thing later?
- If I exclude myself, can I get money from the proposed Settlement?
- Do I have a lawyer in this case?
- How will the lawyers be paid?
- How do I tell the Court that I object to the proposed Settlement?
- What is the difference between objecting and excluding?
- When and where will the Court decide whether to approve the proposed Settlement?
- Do I have to come to the hearing?
- May I speak at the hearing?
- What happens if I do nothing?
- Why did I get a Notice package?
The Notice was sent pursuant to an Order of a U.S. District Court because you or someone in your family or an investment account for which you serve as custodian may have purchased or acquired Reckitt American Depositary Shares during the Class Period.
The Notice explains the class action lawsuit, the Settlement, Class Members’ legal rights in connection with the Settlement, what benefits are available, who is eligible for them, and how to get them. Top
- Why is there a settlement?
The Court has not decided in favor of Defendants or the Plaintiffs. Instead, both sides agreed to the Settlement to avoid the distraction, costs, and risks of further litigation, and Plaintiffs agreed to the Settlement in order to ensure that Class Members will receive compensation. Top
- How do I know if I am a Member of the Class?
The Court directed that everyone who fits this description is a Class Member: all Persons who purchased or otherwise acquired Reckitt ADSs during the period from July 28, 2014 through April 9, 2019, inclusive, and were damaged thereby, except those Persons and entities that are excluded.
Excluded from the Class are: (i) Defendants and the Former Defendants; (ii) members of the immediate family of each Defendant and Former Defendant; (iii) any Person who was an officer or director of Reckitt during the Class Period as well as members of their respective immediate families; (iv) any entity in which any Defendant or Former Defendant has or had a controlling interest; (v) any corporate parent and/or affiliate of Reckitt; and (vi) the legal representatives, heirs, successors-in-interest, or assigns of any such excluded Person. Also excluded from the Class are those Persons who timely and validly exclude themselves therefrom by submitting a request for exclusion in accordance with the requirements set forth in the Notice.
Please Note: Receipt of the Notice does not mean that you are a Class Member or that you will be entitled to receive a payment from the Settlement. If you are a Class Member and you wish to be eligible to participate in the distribution of proceeds from the Settlement, you are required to submit the Proof of Claim that is being distributed with the Notice and the required supporting documentation as set forth therein postmarked or submitted online on or before July 7, 2023. Top
- What does the Settlement provide?
The Settlement provides that, in exchange for the release of the Released Claims (defined in the Notice) and dismissal of the Litigation, Defendants have agreed to pay (or cause to be paid) $19.6 million in cash to be distributed after taxes, tax expenses, notice and claims administration expenses, and approved fees and expenses, pro rata, to Class Members who send in a valid Proof of Claim form pursuant to the Court-approved Plan of Allocation. The Plan of Allocation is described in more detail in the Notice. Top
- How much will my payment be?
Your share of the Net Settlement Fund will depend on several things, including the total value of Reckitt ADSs represented by the valid Proof of Claim forms that Class Members send in, compared to the value of your claim, all as calculated under the Plan of Allocation. Top
- How can I get a payment?
To be eligible to receive a payment from the Settlement, you must submit a Proof of Claim form. A Proof of Claim form is enclosed with the Notice or it may be downloaded from the Case Documents tab above. Read the instructions carefully, fill out the Proof of Claim, include all the documents the form asks for, sign it, and mail or submit it online so that it is postmarked or received no later than July 7, 2023. The Proof of Claim form may be submitted online by clicking the File A Claim tab above. Top
- When would I get my payment?
The Court will hold a Settlement Hearing on July 19, 2023, at 2:00 p.m., to decide whether to approve the Settlement. If the Court approves the Settlement, there might be appeals. It is always uncertain whether appeals can be resolved, and if so, how long it would take to resolve them. It also takes time for all the Proofs of Claim to be processed. Please be patient. Top
- What am I giving up to get a payment or to stay in the Class?
Unless you timely and validly exclude yourself, you are staying in the Class, and that means you cannot sue, continue to sue, or be part of any other lawsuit against Defendants or their Related Parties about the Released Claims in this case. It also means that all of the Court’s orders will apply to you and legally bind you. If you remain a Class Member, and if the Settlement is approved, you will give up all “Released Claims”, including “Unknown Claims”, against the “Released Defendant Parties", all of which are defined in the Notice. Top
- How do I get out of the Class and the proposed Settlement?
To exclude yourself from the Class and the Settlement, you must send a letter by First-Class Mail stating that you “request exclusion from the Class in the Reckitt Securities Settlement.” Your letter must include your purchases or acquisitions of Reckitt ADSs during the Class Period, including the dates and the number of Reckitt ADSs purchased or acquired. In addition, you must include your name, address, telephone number, and your signature. You must submit your exclusion request so that it is postmarked no later than June 28, 2023 to the address listed in the Notice.
If you ask to be excluded, you will not get any payment from the Settlement, and you cannot object to the Settlement. You will not be legally bound by anything that happens in this lawsuit, and you may be able to sue the Defendants and the other Released Defendant Parties about the Released Claims in the future. Top
- If I do not exclude myself, can I sue the Defendants and the other Released Defendant Parties for the same thing later?
No. Unless you exclude yourself, you give up any rights you may potentially have to sue the Defendants and the other Released Defendant Parties for any and all Released Claims. If you have a pending lawsuit against the Released Defendant Parties, speak to your lawyer in that case immediately. You must exclude yourself from the Class in this Litigation to continue your own lawsuit. The exclusion deadline is June 28, 2023. Top
- If I exclude myself, can I get money from the proposed Settlement?
No. If you exclude yourself, you should not send in a Proof of Claim to ask for any money. But you may have the right to potentially sue or be part of a different lawsuit against the Defendants and the other Released Defendant Parties. Top
- Do I have a lawyer in this case?
The Court ordered that the law firm of Robbins Geller Rudman & Dowd LLP represent the Class Members. These lawyers are called Lead Counsel. If you want to be represented by your own lawyer, you may hire one at your own expense. Top
- How will the lawyers be paid?
Lead Counsel will apply to the Court for an award of attorneys’ fees on behalf of Plaintiffs’ Counsel not to exceed thirty-three percent (33%) of the Settlement Amount and for expenses, costs and charges in an amount not to exceed $600,000 in connection with prosecuting the Litigation, plus interest on such fees and expenses at the same rate as earned by the Settlement Fund. Lead Plaintiff Birmingham may seek up to $10,000 for its costs and expenses incurred in representing the Class. Such sums as may be approved by the Court will be paid from the Settlement Fund.
[1] “Plaintiffs’ Counsel” means Robbins Geller Rudman & Dowd LLP and VanOverbeke, Michaud & Timmony, P.C.
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- How do I tell the Court that I object to the proposed Settlement?
If you are a Class Member, you can comment on or object to the proposed Settlement, the proposed Plan of Allocation and/or Lead Counsel’s fee and expense application. You can write to the Court setting out your comment or objection. The Court will consider your views. To comment or object, you must send a signed letter saying that you wish to comment on or object to the proposed Settlement in the Reckitt Securities Settlement. Include your name, address, telephone number, and your signature, identify the date(s), price(s), and number of Reckitt ADSs you purchased or acquired and sold during the Class Period, and state with specificity your comments or the reasons why you object to the proposed Settlement, Plan of Allocation and/or fee and expense application, including any legal and evidentiary support for such objection. Any objection must state whether it applies only to the objector, to a specific subset of the Class, or to the entire Class. You must also identify all other class action settlements in which you or your counsel have filed objections. You must also include copies of documents demonstrating your purchase(s), acquisitions and/or sale(s) of Reckitt ADSs during the Class Period. Your comments or objection must be filed with the Court and mailed or delivered to each of the addresses listed in the Notice such that it is received no later than June 28, 2023. Top
- What is the difference between objecting and excluding?
Objecting is simply telling the Court that you do not like something about the Settlement. You can object only if you stay in the Class.
Excluding yourself is telling the Court that you do not want to recover money from the Settlement and do not want to release any claims you think you may have against Defendants and their Related Parties. If you exclude yourself, you cannot object to the Settlement because it does not affect you. Top
- When and where will the Court decide whether to approve the proposed Settlement?
The Court will hold a Settlement Hearing at 2:00 p.m., on July 19, 2023, in the Courtroom of the Honorable P. Kevin Castel, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007. At the hearing, the Court will consider whether the Settlement and the Plan of Allocation are fair, reasonable, and adequate. If there are objections, the Court will consider them, even if you do not ask to speak at the hearing. The Court will listen to people who have asked to speak at the hearing. The Court may also decide how much to pay to Lead Counsel and Lead Plaintiff. After the Settlement Hearing, the Court will decide whether to approve the Settlement and the Plan of Allocation. We do not know how long these decisions will take. You should be aware that the Court may change the date and time of the Settlement Hearing without another notice being sent to Class Members. If you want to attend the hearing, you should check with Lead Counsel or here ar the Settlement website beforehand to be sure that the date and/or time has not changed.
In addition, there exists the possibility that the Court may decide to conduct the Settlement Hearing by video or telephonic conference, or otherwise allow Class Members to appear at the hearing by phone or video, without further written notice to the Class. In order to determine whether the date and time of the Settlement Hearing have changed, or whether Class Members must or may participate by phone or video, it is important that you monitor the Court’s docket and this Settlement website before making any plans to attend the Settlement Hearing. Any and all updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted here at the Settlement website. Also, if the Court requires or allows Class Members to participate in the Settlement Hearing by telephone or video, the access information will be posted here at the Settlement website. Top
- Do I have to come to the hearing?
No. Lead Counsel will answer questions the Court may have. But, you are welcome to come at your own expense. If you send an objection, you do not have to come to Court to talk about it. As long as you mailed your written objection on time, the Court will consider it. You may also pay your own lawyer to attend, but it is not necessary. Class Members do not need to appear at the hearing or take any other action to indicate their approval. Top
- May I speak at the hearing?
If you object to the Settlement, the Plan of Allocation, and/or the fee and expense application, you may ask the Court for permission to speak at the Settlement Hearing. To do so, you must include with your objection (see question 16 in the Notice) a statement saying that it is your “Notice of Intention to Appear in the Reckitt Securities Settlement.” Persons who intend to object to the Settlement, the Plan of Allocation, and/or any attorneys’ fees and expenses to be awarded to Lead Counsel or Lead Plaintiff and desire to present evidence at the Settlement Hearing must include in their written objections the identity of any witnesses they may call to testify and exhibits they intend to introduce into evidence at the Settlement Hearing. Your notice of intention to appear must be received no later than June 28, 2023, and addressed to the Clerk of the Court, Lead Counsel, and Defendants’ Counsel, at the addresses listed in the Noitce.
You cannot speak at the hearing if you exclude yourself from the Class. Top
- What happens if I do nothing?
If you do nothing, you will not receive any money from this Settlement. In addition, unless you exclude yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against Defendants and their Related Parties about the Released Claims in this case. If you purchased Reckitt Ordinary Shares, this Settlement does not affect any of your current or potential claims arising from the purchase of Reckitt Ordinary Shares. Top
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