ADT Securities Litigation Settlement
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WELCOME TO THE ADT SECURITIES LITIGATION SETTLEMENT WEBSITE

This website has been established to provide general information related to the proposed settlement of the lawsuit referred to as In re ADT Inc. Shareholder Litigation, Case No. 502018CA003494XXXXMB-AG (the “State Action”), which is pending before the Honorable Donald Hafele in the Circuit Court of the Fifteenth Judicial Circuit, in and for Palm Beach County, Florida, Civil Division (the “State Court”) and a similar lawsuit entitled Perdomo v. ADT Inc., Case No. 18-80668-cv-Middlebrooks, which was filed in the United States District Court for the Southern District of Florida (the “Federal Action” and, together with the State Action, the “Actions”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated September 15, 2020, which can be found here.

The law firms of Robbins Geller Rudman & Dowd LLP and Glancy Prongay & Murray LLP represent you and other Settlement Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

The proposed Settlement involves putative class action suits filed in the State Court and in the United States District Court for the Southern District of Florida against ADT Inc.("ADT" or the "Company") and certain of its officers and directors and the underwriters for ADT's January 19, 2018 initial public offering ("IPO") (collectively, "Defendants") on behalf of all persons and entities who purchased or otherwise acquired ADT common stock at any time during the period beginning on January 19, 2018 through and including May 21, 2018 (the “Settlement Class Period”).  

State Court Plaintiffs Goldstrand Investments Inc., Richard Krebsbach, Howard Katz, Daniel M. Sweet and Robert Lowinger allege that Defendants violated §§11, 12(a)(2), and 15 of the Securities Act of 1933 (the "Securities Act") and Federal Court Lead Plaintiff Husam Asaff alleges that Defendants violated §§11 and 15 of the Securities Act by making material misrepresentations and omissions in the Registration Statement for ADT’s IPO (and, in the State Action, in the Prospectus).  Specifically, Plaintiffs allege that the Registration Statement misrepresented and/or failed to disclose ADT’s litigation with Ring.com (“Ring”) over Ring’s theft of intellectual property from ADT and the settlement in principle of that litigation, and that ADT’s traditional competitors were being displaced by do-it-yourself (“DIY”) home security offerings from certain technology companies.  Defendants deny all of the Plaintiffs' allegations. 

If you purchased or otherwise acquired ADT common stock during the Settlement Class Period, you are a Settlement Class Member, unless you fall into one of the following categories of persons who are excluded from the proposed Settlement Class:   (i) Defendants; (ii) members of the immediate families of the Individual Defendants; (iii) the parents, subsidiaries, assigns, successors and predecessors of ADT, the Underwriter Defendants, and the Apollo Defendants (but, for the avoidance of doubt, not excluding Persons who are members or partners of such parents, subsidiaries, assigns, successors, or predecessors); (iv) the subsidiaries and predecessors of SunTrust Robinson Humphrey Inc., now known as Truist Securities Inc. ("STRH"); (v) any Persons who served as partners, control persons, officers and/or directors of ADT, the Underwriter Defendants, or the Apollo Defendants during the Settlement Class Period; (vi) any Persons who served as partners, officers, and/or directors of STRH during the Settlement Class Period; (vii) Defendants’ liability insurance carriers; (viii) the legal representatives, heirs, successors, and assigns of any person or entity except STRH, excluded under provisions (i) through (vii) hereof; and (ix) the legal representatives of STRH.  For the avoidance of doubt, any Investment Vehicle shall not be excluded from the proposed Settlement Class.  Also excluded from the proposed Settlement Class are those Persons who would otherwise be Settlement Class Members but who timely and validly exclude themselves therefrom.

WHAT DOES THE SETTLEMENT PROVIDE?

The proposed Settlement will create a cash settlement fund of $30,000,000 (the “Settlement Fund”), plus any interest that may accrue thereon less certain deductions.

The Settlement Fund, subject to deduction for, among other things, costs of class notice and administration and certain taxes and tax-related expenses, as well as attorneys’ fees and expenses, and the amount to Plaintiffs in connection with their representation of the Settlement Class, as approved by the Court, will be available for distribution to Settlement Class Members. Your recovery from this fund will depend on a number of variables, including the number of ADT shares you purchased or acquired, the timing of your purchases, acquisitions, and any sales, and how many other Settlement Class Members make claims. 

ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A PROOF OF CLAIM

The only way to be eligible to receive a payment from the Settlement.  Proof of Claim forms must be postmarked or submitted online on or before February 3, 2021.

EXCLUDE YOURSELF

Get no payment.  This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Parties about the legal claims being resolved by this Settlement.  Should you elect to exclude yourself from the Settlement Class you should understand that Defendants and the other Released Parties will have the right to assert any and all defenses they may have to any claims that you may seek to assert, including, without limitation, the defense that such claims are untimely under applicable statutes of limitations and statutes of repose. Exclusions must be postmarked on or before December 30, 2020.

OBJECT 

Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses.  You will still be a member of the Settlement Class.  Objections must be received by the Court and counsel on or before December 30, 2020.  If you submit a written objection, you may (but do not have to) attend the hearing.

GO TO THE HEARING ON JANUARY 12, 2021

Ask to speak in Court about the fairness of the Settlement.  Requests to speak must be received by the Court and counsel on or before December 30, 2020.

 DO NOTHING 

Receive no payment. You will, however, still be a member of the Settlement Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Actions.

 

IMPORTANT DATES AND DEADLINES

Submit Proof of Claim

February 3, 2021

Request Exclusion

December 30, 2020

Submit Written Objection

December 30, 2020

Submit Notice of Intention to Appear   

December 30, 2020

Settlement Hearing 

January 12, 2021, at 2:00 p.m. EST