Spectrum Class Action Lawsuits 2022

Lawyer

What is a class action lawsuit?

A class action lawsuit is a legal proceeding in which a group of people with similar claims sue a defendant as a group. Class action lawsuits are often filed when the cost of individually litigating claims would be prohibitive or when the claims are too small to justify individual suits.

What are the Spectrum class action lawsuits about?

There were two major Spectrum class action lawsuits filed in 2022:

  • Spectrum Brands Securities Litigation: This lawsuit alleged that Spectrum Brands Holdings, Inc. violated securities laws by making false and misleading statements about the company’s financial performance and future prospects. The lawsuit was settled in March 2022 for $105 million.
  • Spectrum ERISA Settlement: This lawsuit alleged that Spectrum Health System violated ERISA by failing to properly manage its retirement savings plan. The lawsuit was settled in December 2022 for $17 million.

Who is eligible to participate in the Spectrum class action lawsuits?

If you were a shareholder of Spectrum Brands Holdings, Inc. between December 6, 2021 and September 22, 2022, or a participant in the Spectrum Health System Defined Contribution Retirement Plans Investment Committee between January 1, 2017 and December 31, 2020, you may be eligible to participate in the respective class action lawsuit.

How can I participate in the Spectrum class action lawsuits?

To participate in the Spectrum Brands Securities Litigation class action lawsuit, you must have submitted a claim form by January 25, 2022. To participate in the Spectrum ERISA Settlement class action lawsuit, you must submit a claim form by December 20, 2023.

What are the deadlines for submitting claims?

The deadline for submitting a claim in the Spectrum Brands Securities Litigation class action lawsuit was January 25, 2022. The deadline for submitting a claim in the Spectrum ERISA Settlement class action lawsuit is December 20, 2023.

What are the benefits of participating in the Spectrum class action lawsuits?

If you are eligible to participate in the Spectrum class action lawsuits and you submit a valid claim, you may be entitled to receive a share of the settlement funds. The amount of money you receive will depend on a number of factors, including the number of valid claims filed and the severity of your losses.

Conclusion

The Spectrum class action lawsuits provide a way for shareholders and participants in the Spectrum Health System Defined Contribution Retirement Plans Investment Committee to seek compensation for their losses. If you are eligible to participate in the lawsuits and you believe that you have been harmed, you should consider submitting a claim form.

FAQs:

Q: What if I missed the deadline for submitting a claim?

A: If you missed the deadline for submitting a claim, you may still be able to participate in the class action lawsuit if you can show that you had good cause for missing the deadline.

Q: How much money will I receive if my claim is approved?

A: The amount of money you receive will depend on a number of factors, including the number of valid claims filed and the severity of your losses.

Q: What if I have questions about the class action lawsuit?

A: If you have questions about the class action lawsuit, you should contact the class action administrator. The contact information for the class action administrator is listed on the class action lawsuit website.

Q: How long will it take to receive my settlement funds?

A: It is difficult to say how long it will take to receive your settlement funds. The timeline will depend on a number of factors, including the complexity of the case and the number of claims filed.

Q: What if I am not happy with the amount of money I receive?

A: If you are not happy with the amount of money you receive, you may have the right to object to the settlement. However, it is important to note that objections to settlements are often unsuccessful.

Q: What if I have other questions about the class action lawsuit?

A: If you have other questions about the class action lawsuit, you should contact your attorney.

References:

  • Spectrum Brands Securities Litigation website: https://www.spectrumbrandssecuritieslitigation.com/
  • Spectrum ERISA Settlement website: https://spectrumerisasettlement.com/

 

Recommended Articles

Leave a Reply

Your email address will not be published. Required fields are marked *