Update on the Distribution of Net Settlement Funds.
The Court has approved the distribution of the net settlement funds to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following date: November 2020
If you submitted a Claim in this case and have any questions related to that Claim, please contact the Claims Administrator who contact information is listed here below:
In re Commvault Systems, Inc. Securities Litigation
P.O. Box 10521
Dublin, OH 43017-0180
WELCOME TO THE IN RE COMMVAULT SYSTEMS, INC. SECURITIES LITIGATION WEBSITE
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) Fairness Hearing; and (III) Motion for an Award of Attorneys’ Fees and Reimbursement of Litigation Expenses (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.
This case, In re Commvault System, Inc. Securities Litigation, Civil Action No. 14-5628 (PGS)(LHG), brought in the United States District Court for the District of New Jersey, arises out of allegations that Commvault Systems, Inc. (“Commvault”) and N. Robert Hammer and Brian Carolan, Commvault’s CEO and CFO, violated federal securities laws by making materially false and misleading statements about Commvault’s business and financial results.
The Court-appointed Lead Plaintiff, Arkansas Teacher Retirement System, on behalf of itself and the other members of the Settlement Class (defined below), has reached a settlement with Defendants for $12,500,000 in cash that resolves all claims in the Action (the “Settlement”). On May 14, 2018, following a hearing, the Court approved the Settlement.
If you are a member of the Settlement Class, your rights may be affected and you may be eligible for a payment from the Settlement. The Settlement Class consists of:
all persons or entities that purchased or otherwise acquired shares of the publicly traded common stock of Commvault during the period beginning on May 7, 2013 through and including April 24, 2014 (the “Class Period”), and were allegedly damaged by those purchases or acquisitions and any corrective disclosure, except for certain persons and entities who are excluded from the Settlement Class by definition (see, paragraph 28 of the Notice).
Please read the Notice to fully understand your rights and options.
If you are a member of the Settlement Class, to have been potentially eligible to receive a payment under the proposed Settlement, you must have submitted a Claim Form postmarked no later than June 20, 2018. On November 12, 2020 the initial distribution occurred and payments were to Court approved Class Members.