Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Waste Management Notes Securities Litigation

By: Robbins Geller Rudman & Dowd LLP via Business Wire

September 23, 2025 at 08:00 AM EDT

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the proposed Settlement in the Waste Management Notes Securities Litigation:

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

In re WASTE MANAGEMENT SECURITIES

LITIGATION

Civil Action No. 1:22-cv-04838-LGS

CLASS ACTION

SUMMARY NOTICE OF PENDENCY

AND PROPOSED SETTLEMENT OF

CLASS ACTION

TO: ALL PERSONS WHO BETWEEN FEBRUARY 13, 2020 AND JUNE 23, 2020, INCLUSIVE, PURCHASED OR OTHERWISE ACQUIRED IN DOMESTIC TRANSACTIONS CERTAIN REDEEMABLE SENIOR NOTES ISSUED BY WASTE MANAGEMENT, INC. IN MAY 2019

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 Southern District of New York (“Court”), that the above-captioned action (“Litigation”) has been certified as a class action, except for certain Persons who are excluded from the Class by definition as set forth in the Stipulation of Settlement dated July 10, 2025 (the “Stipulation”) and the detailed Notice of Pendency and Proposed Settlement of Class Action (the “Notice”). The Stipulation and Notice can be viewed at www.WasteManagementSettlement.com.

YOU ARE ALSO HEREBY NOTIFIED that Seafarers Officers & Employees Pension Plan, Seafarers Money Purchase Pension Plan, and United Industrial Workers Pension Plan (“Lead Plaintiffs”), and defendants Waste Management, Inc. (“WM”), James C. Fish, Jr., John J. Morris, and Devina A. Rankin (“Defendants”) have reached a proposed settlement of the Litigation on behalf of the Class for $30 million in cash (the “Settlement”). If approved by the Court, the Settlement will resolve all claims in the Litigation.

YOU ARE ALSO HEREBY NOTIFIED that a hearing will be held on December 16, 2025, at 2:30 p.m., at the United States District Court, Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, Courtroom 1106, New York, NY 10007, to determine whether: (1) the Settlement of the Litigation as set forth in the Stipulation for $30 million in cash should be approved by the Court as fair, reasonable, and adequate; (2) the Judgment as provided under the Stipulation should be entered dismissing the Litigation with prejudice; (3) to award Lead Counsel’s attorneys’ fees and expenses out of the Settlement Fund (as defined in the Notice) and, if so, in what amount; (4) to award Lead Plaintiffs their costs and expenses in representing the Class out of the Settlement Fund and, if so, in what amount; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.

The Court may decide to change the date and/or time of the Settlement Hearing, conduct the hearing by video or telephonic conference, or otherwise allow Class Members to appear at the hearing by telephone or videoconference, without further written notice to the Class. It is important that you check the Settlement website, www.WasteManagementSettlement.com, 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 or updates regarding in-person or telephonic appearances at the hearing, will be posted to the Settlement website. Also, if the Court requires or allows Class Members to participate in the hearing by telephone or videoconference, the access information will be posted to the Settlement website.

IF YOU PURCHASED OR OTHERWISE ACQUIRED ANY OR ALL OF THE FOLLOWING WM REDEEMABLE SENIOR NOTES: (i) 2.95% SENIOR NOTES DUE 2024 (CUSIP 94106LBF5); (ii) 3.20% SENIOR NOTES DUE 2026 (CUSIP 94106LBH1); (iii) 3.45% SENIOR NOTES DUE 2029 (CUSIP 94106LBG3); or (iv) 4.00% SENIOR NOTES DUE 2039 (CUSIP 94106LBJ7), BETWEEN FEBRUARY 13, 2020 AND JUNE 23, 2020, INCLUSIVE, IN ONE OR MORE DOMESTIC TRANSACTIONS, AND WERE DAMAGED THEREBY, YOUR RIGHTS ARE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

To share in the distribution of the Net Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form (“Claim Form”) by mail (postmarked no later than November 21, 2025) or electronically via the Settlement website (no later than November 21, 2025). Failure to submit your Claim Form by November 21, 2025, will subject your claim to rejection and preclude you from receiving any of the recovery in connection with the Settlement of this Litigation. If you are a Class Member and do not request exclusion from the Class (as described below), you will be bound by the Settlement and any judgment and release entered in the Litigation, including, but not limited to, the Judgment, whether or not you submit a Claim Form.

The Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), the Claim Form, the Stipulation (which, among other things, contains definitions for the capitalized terms used in this Summary Notice), and other important documents, may be accessed online at www.WasteManagementSettlement.com, or by writing to:

Waste Management Notes Securities Settlement

Claims Administrator

c/o Verita Global

P.O. Box 301170

Los Angeles, CA 90030-1170

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Notice or for a Claim Form, 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 DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED BY NOVEMBER 25, 2025, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. IF YOU PROPERLY EXCLUDE YOURSELF FROM THE CLASS, YOU WILL NOT BE BOUND BY ANY RELEASES, JUDGMENTS, OR ORDERS ENTERED BY THE COURT IN THE LITIGATION AND YOU WILL NOT RECEIVE ANY BENEFITS FROM THE SETTLEMENT. EXCLUDING YOURSELF FROM THE CLASS IS THE ONLY OPTION THAT MAY ALLOW YOU TO BE PART OF ANY OTHER CURRENT OR FUTURE LAWSUIT AGAINST DEFENDANTS CONCERNING THE CLAIMS BEING RESOLVED BY THE SETTLEMENT.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY LEAD COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES NOT TO EXCEED 33-1/3% OF THE $30 MILLION SETTLEMENT AMOUNT AND EXPENSES NOT TO EXCEED $1,000,000, PLUS INTEREST ON BOTH AMOUNTS, AND/OR THE REQUEST FOR AWARDS TO LEAD PLAINTIFFS PURSUANT TO 15 U.S.C. §78u-4(a)(4). ANY OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO LEAD COUNSEL AND DEFENDANTS’ COUNSEL BY NOVEMBER 25, 2025, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE.

DATED: August 26, 2025	____________________________________
	BY ORDER OF THE COURT
	UNITED STATES DISTRICT COURT
	SOUTHERN DISTRICT OF NEW YORK

View source version on businesswire.com: https://www.businesswire.com/news/home/20250923105102/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 Waste Management Notes Securities Litigation

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