TreeHouse Securities Litigation

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TreeHouse Securities Litigation
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THE COURT HAS DIRECTED THAT THE SETTLEMENT HEARING SCHEDULED FOR NOVEMBER 16, 2021 AT 10:00 CENTRAL TIME WILL BE CONDUCTED BY CONFERENCE CALL. PARTICIPANTS SHOULD USE THE COURT'S TOLL-FREE, CALL-IN NUMBER (877) 336-1829, PASSCODE: 6963747.

The information contained on this web page is only a summary of information presented in more detail in the Notice of Proposed Settlement of Class Action, Settlement Hearing, and Right to Appear (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional information.

If you are a Class Member, your legal rights will be affected by this Settlement whether you act or do not act. 

Please read the Notice carefully.

IF YOU PURCHASED TREEHOUSE FOODS INC. COMMON STOCK ON THE OPEN MARKET BETWEEN JANUARY 20, 2016, AND NOVEMBER 2, 2016 INCLUSIVE AND WERE ALLEGEDLY DAMAGED THEREBY YOU MAY BE A CLASS MEMBER.

Summary of Your Legal Rights and Options

You May

 

Due Date

Submit a Claim Form

You must submit a Claim Form (described below) to receive a payment under the Settlement. If you send in a Claim Form and supporting documentation, the “Claims Administrator” – A.B. Data, Ltd. – will determine if you are entitled to a payment under the Settlement.

December 15, 2021

Opt Out

If you opt out of this case, you will not get any of the benefits of the Settlement (i.e., no money from the Settlement Fund). But you will retain the right to sue the Defendants on your own, at your own expense, relating to the statements they made during the Class Period.

October 17, 2021

Object to the Settlement

If you do not like the proposed Settlement, the related Fee and Expense Application (defined below), or the Plan of Allocation, you may write to the Court and explain why. Even if you object to the Settlement, you can still submit a Claim Form as long as you do not opt out. You must submit a Claim Form if you want money from the Settlement Fund.

October 17, 2021

Do Nothing

If you do nothing, you will not get any money from the Settlement Fund, AND you give up all your rights to sue Defendants on your own about the legal issues in this case.

 


The Settlement Hearing

The Court will hold a “Settlement Hearing” at 10:00 a.m. on November 16, 2021. The Court has directed the hearing will be conducted by conference call. Participants should use the Court's toll-free, call-in number (877) 336-1829, passcode:6963747. At this hearing the Court will consider whether the Settlement is fair, reasonable, and adequate. Furthermore, Lead Counsel will also request that the Court approve the proposed Plan of Allocation and the Fee and Expense Application. The Court will also entertain all valid objections. After the Settlement Hearing, the Court will make decisions whether to approve these matters relating to the Settlement. The Court may change the date and time of the Settlement Hearing without notice or hold the Settlement Hearing by telephonic or video conference.  Any change to the Settlement Hearing will be posted on this website. Please check this website before attending to be sure that the date and/or time has not changed.

What is this case about?

The following summary does not constitute a finding of the Court. Neither the Settlement nor any of the terms of this Settlement shall be construed or deemed to be evidence of or constitute an admission, concession, or finding of any fault, liability, wrongdoing, or damage on behalf of Defendants.

Lead Plaintiff alleged that TreeHouse misrepresented to the market during the Class Period that its acquisitions of Flagstone Foods and the “Private Brands” business of ConAgra Foods, Inc. were successful, in violation of Sections 10(b) and 20(a) of the Exchange Act, and SEC Rule 10b-5. According to Lead Plaintiff’s Amended Consolidated Complaint, dated March 24, 2017 (the “Complaint”), in actuality, TreeHouse was unable to successfully integrate Flagstone and Private Brands. Consequently, as a result of these alleged representations Lead Plaintiff contends that TreeHouse’s common stock traded at an inflated level during the Class Period. Eventually, on November 3, 2016, after TreeHouse disclosed that its third quarter earnings would be substantially below expectations, TreeHouse shares declined by $16.87 a share, from $86.59 to $69.72 a share, or 19.5%.

Defendants deny all of Lead Plaintiff’s allegations; assert that the claims in the Litigation are without merit and that none of the evidence developed to date, or that would be developed if the case was litigated, supports or would support Plaintiff’s claims; and have asserted numerous defenses.  Without limiting the generality of the foregoing in any way, Defendants have denied, and continue to deny, among other things, that any untrue statements of material fact or material omissions were made or that Lead Plaintiff or the Class have suffered any damages.  Defendants have denied and continue to deny any fault, liability, or wrongdoing whatsoever in connection with the allegations set forth in the Litigation or any facts related thereto.  

Who is part of the Class?  

The Class consists of all persons and entities (“Persons”) who, like Lead Plaintiff, purchased TreeHouse common stock on the open market during the Class Period and who were damaged thereby.  All such Persons are Class members.  

Excluded from the Class are Defendants, the officers and directors of TreeHouse, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest. Also excluded from the Class is any Person who satisfies the criteria for being a member of the Class but validly and timely requests exclusion (opts out) in accordance with the requirements set by the Court.

The Settlement Benefits

At this time, it is not possible to make any determination as to how much any individual Class member may receive from the Settlement.

In full and final settlement of the claims asserted in the Litigation, TreeHouse shall cause the “Settlement Amount” of $27,000,000 to be paid by check or wire transfer, in accordance with instructions to be provided by an escrow agent, for the benefit of the Class to be divided, after payment of fees and expenses, among all Class members. 

Further Information

This website and the Notice summarize the Settlement.  For more details regarding the Settlement please reference the Settlement Agreement, or other documents filed in the case under the “Court Documents” link on the left.  You may also contact the Claims Administrator or Plaintiff’s Counsel for further information regarding the Settlement:

Claims Administrator:

TreeHouse Foods, Inc. Securities Litigation

c/o A.B. Data, Ltd.

PO Box 173054

Milwaukee, WI  53217

(877) 888-4955

info@TreeHouseSecuritiesLitigation.com


Lead Counsel:

Chet B. Waldman

Matthew Insley-Pruitt

Wolf Popper LLP

845 Third Ave.

12th Floor

New York, NY 10022

(212) 451-9600



 
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