CBL Securities Litigation

The Court-appointed Lead Plaintiffs, Jay B. Scolnick, Mark Shaner, Charles D. Hoffman, and HoffInvestCo (“Lead Plaintiffs”), on behalf of themselves and the Settlement Class (defined below), have reached a proposed settlement of the Action for $17,500,000 in cash that, if approved, will resolve all claims in the Action (the “Settlement”).

If you are a member of the Settlement Class, your rights will be affected, and you may be eligible for a payment from the Settlement. The Settlement Class consists of:

All persons and entities who purchased or otherwise acquired CBL Securities between July 29, 2014 and March 26, 2019, both dates inclusive.

Excluded from the Settlement Class are Defendants, current and former officers and directors of CBL, and their families and affiliates.

If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment under the proposed Settlement, you must submit a Claim Form no later than August 14, 2023. Payments to Authorized Claimants will be made only if the Court approves the Settlement and the Plan of Allocation, and 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.

Your Legal Rights and Options in This Settlement

Submit a Claim Form	To be eligible to receive a payment from the Settlement Fund, a Settlement Class Member must submit a Claim Form online or postmarked no later than August 14, 2023.
Object	Any objections need to be received on or before July 31, 2023, in accordance with the instructions contained in the Notice.
Exclude Yourself	Any requests for exclusion need to be received on or before July 31, 2023, in accordance with the instructions contained in the Notice.
Attend A Hearing	The hearing on whether to approve the Settlement was held on August 21, 2023, at 1:30 p.m. The Court approved the case on August 23, 2023.
Do Nothing	You will not be eligible to receive any payment from the Settlement Fund and give up your right to sue.

These rights and options—and the deadlines to exercise them—are explained in the Notice and on the Frequently Asked Questions page of this website.

PLEASE DO NOT TELEPHONE THE COURT, THE COURT CLERK’S OFFICE, DEFENDANTS OR DEFENDANTS’ COUNSEL TO INQUIRE ABOUT THIS SETTLEMENT OR THE CLAIMS PROCESS.