Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Maxar Technologies Securities Litigation

By: Robbins Geller Rudman & Dowd LLP via Business Wire

July 24, 2023 at 08:00 AM EDT

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Maxar Securities Litigation:

IN THE UNITED STATES DISTRICT COURT

FOR THE DISTRICT OF COLORADO

Civil Action No. 1:19-cv-00124-WJM-SKC

Consolidated with Civil Action No. 1:19-cv-00758-WJM-SKC

OREGON LABORERS EMPLOYERS PENSION TRUST FUND, Individually and On Behalf of All Others Similarly Situated,

Plaintiff,

MAXAR TECHNOLOGIES INC.,

HOWARD L. LANCE, and

ANIL WIRASEKARA,

Defendants.

SUMMARY NOTICE OF (I) PROPOSED SETTLEMENT AND PLAN OF ALLOCATION; (II) SETTLEMENT HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS’ FEES AND LITIGATION EXPENSES

TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED MAXAR TECHNOLOGIES, INC. (“MAXAR”) COMMON STOCK DURING THE PERIOD FROM MAY 9, 2018 THROUGH OCTOBER 30, 2018, INCLUSIVE, AND WERE DAMAGED THEREBY (THE “CLASS” OR “CLASS MEMBERS”), AND ARE NOT OTHERWISE EXCLUDED FROM THE CLASS

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of Colorado (the “Court”), that the Court-appointed Class Representative, Oregon Laborers Employers Pension Trust Fund, on behalf of itself and all members of the certified Class, and defendants Maxar, Howard L. Lance, and Anil Wirasekara (collectively, “Defendants”), have reached a proposed settlement of the claims in the above-captioned action (the “Action”) in the amount of $27 million (the “Settlement”).

A hearing will be held on November 9, 2023, at 10:00 a.m. MST, before the Honorable William J. Martinez, United States District Judge, in person, in Courtroom A801, at the United States District Court for the District of Colorado, Alfred A. Arraj United States Courthouse, 901 19th Street, Denver, CO 80294 to determine, among other things, whether: (1) the proposed $27 million Settlement should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment as provided under the Stipulation of Settlement (the “Stipulation”) should be entered dismissing the Action with prejudice; (3) Lead Counsel’s application for an award of attorneys’ fees of 30% of the Settlement Fund and expenses not to exceed $1,000,000, plus an award to Lead Plaintiff for its time and expenses in representing the Class, should be approved; and (4) the Plan of Allocation should be approved by the Court as fair and reasonable.¹ The Court reserves the right to approve the Settlement, the Plan of Allocation, and Lead Counsel’s motion for an award of attorneys’ fees and expenses and/or consider any other matter related to the Settlement at or after the Settlement Hearing without further notice to the Members of the Class.

To determine whether the date and time of the Settlement Hearing have changed, it is important that you monitor the Court’s docket and the Settlement website before making any plans to attend the Settlement Hearing. Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing, will also be posted to the Settlement website, www.MaxarSecuritiesClassLitigation.com.

If you are a Member of the Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Notice of (I) Proposed Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys’ Fees and Litigation Expenses (the “Settlement Notice”) and Proof of Claim and Release Form (“Claim Form”), you may obtain copies of these documents by visiting the Settlement Website, www.MaxarSecuritiesClassLitigation.com, or by contacting the Claims Administrator at:

Maxar Securities Litigation

Claims Administrator

c/o Gilardi & Co. LLC

P.O. Box 301133

Los Angeles, CA 90030-1133

1-888-756-7518

info@MaxarSecuritiesClassLitigation.com

Copies of the Settlement Notice and Claim Form are also available by accessing the Court docket in this case, for a fee, through the Court’s Public Access to Court Electronic Records (PACER) system at https://ecf.cod.uscourts.gov, or by visiting the Office of the Clerk, Alfred A. Arraj United States Courthouse, 901 19th Street, Denver, CO 80294, during normal business hours.

Inquiries, other than requests for the Settlement Notice or a Claim Form or for information about the status of a claim, may be made to Lead Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP

ELLEN GUSIKOFF STEWART

655 West Broadway, Suite 1900

San Diego, CA 92101

Telephone: 1-800-449-4900

settlementinfo@rgrdlaw.com

If you are a Class Member, to be eligible to share in the distribution of the Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than October 20, 2023. If you are a Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

If you are a Class Member and wish to exclude yourself from the Class, you must submit a written request for exclusion in accordance with the requirements set by the Court and the instructions set forth in the Settlement Notice so that it is postmarked no later than September 25, 2023. If you properly exclude yourself from the Class, you will not be bound by any judgments or orders entered by the Court, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Lead Counsel’s motion for attorneys’ fees and litigation expenses, and/or the proposed Plan of Allocation must be filed with the Court by September 25, 2023, either by mail or in person, and be mailed to counsel for the Settling Parties in accordance with the instructions in the Settlement Notice, such that they are postmarked no later than September 25, 2023.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR DEFENDANTS’ COUNSEL REGARDING THIS NOTICE

DATED: June 5, 2023							BY ORDER OF THE COURT
							UNITED STATES DISTRICT COURT
							DISTRICT OF COLORADO

_________________________

¹The capitalized terms herein shall have the same meaning as they have in the Stipulation. The Stipulation can be viewed and/or obtained at www.MaxarSecuritiesClassLitigation.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230724163878/en/

Contacts

Media Contact:

Robbins Geller Rudman & Dowd LLP

Shareholder Relations Department

Greg Wood

(619) 231-1058

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Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Maxar Technologies Securities Litigation

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