The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expense. Because this website is just a summary, you should review the Notice for additional details.
Notice Regarding Hearing Via Zoom
The Settlement Hearing before Judge Jacqueline Becerra to consider final approval of the Settlement in this Action, approval of the proposed Plan of Allocation, Lead Counsel's motion for attorneys' fees and expenses, and related matters, which is set for October 23, 2024, at 9:30 AM, will be conducted via Zoom in lieu of an in-person hearing at the United States Courthouse in Fort Pierce, Florida.
The Court has posted the following Notice of Hearing on the docket for this case:
Zoom Fairness Hearing set for 10/23/2024 at 09:30 AM before Judge Jacqueline Becerra
Join ZoomGov Meeting: https://www.zoomgov.com
Meeting ID: 161 976 9803
Passcode: 032949
Dial 1-646-828-7666
Summary of the Action and Settlement
This website relates to a pending securities class action (the "Action") alleging, among other things, that Ryder Systems, Inc. ("Ryder") and certain of Ryder’s current and former senior executives (together with Ryder, the “Defendants”) violated the federal securities by making materially false and misleading statements and omissions concerning Ryder’s financial performance and the value of its core assets. A more detailed description of the Action is set forth in paragraphs 11-25 of the Notice. Defendants have denied and continue to deny all claims and allegations of wrongdoing asserted against them in the Action.
Court-appointed Lead Plaintiffs State of Alaska, Alaska Permanent Fund; The City of Fort Lauderdale General Employees’ Retirement System; and The City of Plantation Police Officers Pension Fund (“collectively, “Lead Plaintiffs”), on behalf of themselves and the Settlement Class (defined below), have reached a proposed settlement of the Action for $45,000,000 in cash (the "Settlement"). If approved by the Court, the Settlement will resolve all claims asserted in the Action.
The Settlement Class consists of:
All persons or entities who purchased or otherwise acquired publicly traded Ryder common stock during the period from July 23, 2015 through February 13, 2020, inclusive (the “Class Period”), and were damaged thereby.
Excluded from the Settlement Class are: (i) Defendants; (ii) the Immediate Family Members of any Individual Defendant; (iii) present or former Officers and directors of Ryder and their Immediate Family Members; (iv) any parent, subsidiary, or affiliate of Ryder; (v) any firm, trust, corporation, or other entity in which any Defendant or other excluded person or entity has, or had during the Class Period, a controlling interest; and (vi) the legal representatives, agents, affiliates, heirs, successors-in-interest or assigns of any such excluded persons or entities. Also excluded from the Settlement Class are any persons or entities who or which exclude themselves by submitting a request for exclusion in accordance with the requirements set forth in this Notice.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu at the top of this page.
Payments to eligible claimants will be made only if the Court approves the Settlement and a Plan of Allocation, only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
Please note: On March 7, 2024, the Action was reassigned from District Judge Aileen M. Cannon to District Judge Jacqueline Becerra.
| YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT: |
| SUBMIT A CLAIM FORM POSTMARKED (IF MAILED), OR SUBMITTED ONLINE, NO LATER THAN SEPTEMBER 11, 2024. |
This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (defined in paragraph 35 of the Notice) that you have against Defendants and the other Defendants’ Releasees (defined in paragraph 36 of the Notice), so it is in your interest to submit a Claim Form. |
| EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS RECEIVED NO LATER THAN SEPTEMBER 11, 2024. |
If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that potentially allows you ever to be part of any other lawsuit against any of the Defendants or the other Defendants’ Releasees concerning the Released Plaintiffs’ Claims. |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN SEPTEMBER 11, 2024. |
If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for an award of attorneys’ fees and Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation, or the fee and expense request unless you are a Settlement Class Member and do not exclude yourself from the Settlement Class. |
| GO TO A HEARING ON OCTOBER 23, 2024 AT 9:30 AM |
If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. |
| DO NOTHING |
If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action. |
How Do I Obtain More Information?
Detailed information about the Settlement is contained in the Notice, a copy of which can be found in the menu at the top of this page. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 877-381-0372 or emailing info@RyderSystemSecuritiesLitigation.com or mailing a letter to:
Ryder System Securities Litigation
c/o JND Legal Administration
P.O. Box 91329
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.
© JND Legal Administration. All rights reserved.
