***IMPORTANT CASE UPDATE***
On December 8, 2023 residual distribution checks were mailed to all Authorized Claimants who cashed their initial payment and were eligible to receive an additional payment under the Plan of Allocation. Please contact the Claims Administrator with any questions regarding your payment or claim.
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 held a Settlement Hearing on November 16, 2021 and granted final approval of the Settlement, the Plan of Allocation, and Lead Counsel's application for attorneys' fees and litigation expenses.
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