***IMPORTANT CASE UPDATE***
On June 24, 2022 settlement checks were mailed to all eligible Class Members who submitted a valid claim.
The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (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 member of the Class, you are subject to the Settlement unless you timely request to be excluded.
Your rights may be affected if you purchased or otherwise acquired YRC Securities during the period from March 10, 2014, through December 14, 2018, inclusive (the “Class Period”), and who were damaged thereby.
YRC Securities refers to the publicly traded securities of YRC. During the Class Period, YRC common stock was listed on the NASDAQ Global Select Market under the ticker symbol “YRCW.” After the Class Period, in February 2021, YRC changed its name to Yellow Corporation, and its common stock commenced trading under the new symbol “YELL.”
Please read the Notice carefully.
| YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT: |
| SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN AUGUST 17, 2021. | The dealine to submit a claim has passed. |
| EXCLUDE YOURSELF FROM THE CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION THAT IS RECEIVED NO LATER THAN JULY 21, 2021. | The deadline to exclude yourself from the class has passed. |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION THAT IS RECEIVED NO LATER THAN JULY 21, 2021. | The deadline to object to the terms of the Settlement has passed. |
| DO NOTHING. | If you are a member of the Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Class, which means that you give up your right to sue about the claims that are resolved by the Settlement, and you will be bound by any judgments or orders entered by the Court in the Action. |
The Settlement Fairness Hearing
The Court held a final Settlement Hearing on August 18, 2021 and approved the Settlement and proposed Plan of Allocation and the motion requesting attorneys' fees and expenses. Copies of the orders can be accessed on the Court Documents section.
What is this case about?
The Action involves allegations that YRC and certain YRC executives (collectively, “Defendants”) made false and misleading statements and material omissions about YRC’s business and financial condition during the Class Period but did not disclose that YRC purportedly had been overcharging customers and was being investigated by the U.S. Department of Justice. Lead Plaintiffs allege that those misstatements or omissions inflated the price of YRC Securities during the Class Period and that the price declined when the Department of Justice announced that it had sued YRC because of the purported overcharges. Defendants have denied those allegations.
The Settlement Benefits
The Settlement included a cash settlement fund of $2,100,000 (the “Settlement Amount”). The Settlement Amount, plus accrued interest (the “Settlement Fund”) and minus the costs of this Notice and all costs associated with the administration of the Settlement, as well as any attorneys’ fees and expenses that may be approved by the Court (the “Net Settlement Fund”), will be distributed to Class Members pursuant to the Plan of Allocation that is described in the Notice.
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 Lead Counsel for further information regarding the Settlement:
Claims Administrator:
YRC Worldwide Inc. Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173127
Milwaukee, WI 53217
(877) 265-3022
www.YRCSecuritiesSettlement.com
Lead Counsel:
Jeffrey P. Campisi, Esq.
Kaplan Fox & Kilsheimer LLP
850 Third Avenue, 14th Floor
New York, NY 10022
Michael J. Wernke, Esq.
Pomerantz LLP
600 Third Avenue, 20th Floor
New York, NY 10016
(212) 661-1100