Welcome to the Advance Auto Parts, Inc. Securities Litigation Settlement Website
In re Advance Auto Parts, Inc. Securities Litigation (Case No. 18-CV-00212-RTD-SRF)
United States District Court
District of Delaware
PLEASE NOTE: The Final Approval Hearing was held on June 13, 2022 at 10:00 AM EST. The Court approved the Settlement, the Plan of Allocation of Net Settlement Fund, and the request for Attorneys' Fees and Litigation Expenses.
This website has been established to provide general information regarding the proposed settlement (“Settlement”) of the class action captioned In re Advance Auto Parts, Inc. Securities Litigation, Case No. 18-CV-00212-RTD-SRF, pending in the United States District Court for the District of Delaware (“Court”). Capitalized terms used on this website and not otherwise defined shall have the same meanings ascribed to them in the Stipulation and Agreement of Settlement, dated December 23, 2021 (“Stipulation”).
Please be advised that your rights may be affected by the Settlement if you are a member of the following class certified by the Court pursuant to Memorandum Opinion and Order dated November 6, 2020:
All persons and entities who purchased or otherwise acquired the common stock of Advance Auto Parts, Inc. (“AAP”) between November 14, 2016 and August 15, 2017, inclusive, and were damaged thereby. Excluded from the Class are: (i) the Company; (ii) StarboardValue LP; (iii) Thomas R. Greco, Thomas Okray, and Jeffrey C. Smith (the “Excluded Individuals”); (iv) members of the Immediate Families of the Excluded Individuals; (v) the Company’s and Starboard’s subsidiaries and affiliates; (vi) any person who is or was an officer or director of the Company, Starboard, or any of the Company’s or Starboard’s subsidiaries or affiliates during the Class Period; (vii) any entity in which the Company, Starboard, or any Excluded Individual has a controlling interest; and (viii) the legal representatives, heirs, successors, and assigns of any such excluded person or entity. Also excluded from the Class are any persons and entities who or which submit a request for exclusion from the Class that is accepted by the Court.
Please also be advised that the Court-appointed Class Representative the Public Employees’ Retirement System of Mississippi (“Class Representative”), on behalf of itself and the Court-certified Class, and defendants AAP, Thomas R. Greco, and Thomas Okray (collectively, “Defendants”) have agreed to resolve the Action for $49,250,000 in cash. If approved, the Settlement will resolve all claims in the Action. The terms and provisions of the Settlement are contained in the Stipulation.
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation. We recommend that you read the Notice carefully to fully understand your rights.
If you have questions about the Notice, the Settlement, or your eligibility to participate in the Settlement, please DO NOT contact the Court, the Clerk’s Office, Defendants, or Defendants’ Counsel. All questions should be directed to Class Counsel or the Claims Administrator.
IMPORTANT DATES & DEADLINES
|OBJECTION DEADLINE (Received by)||May 23, 2022|
|EXCLUSION DEADLINE (Received by)||May 23, 2022|
|CLAIM FILING DEADLINE (Postmarked by)||June 9, 2022|
|FINAL APPROVAL HEARING||June 13, 2022 at 10:00 am EST|
The information on this website, including the dates and deadlines set forth in the chart above, are subject to change. Please continue to check this website for updates.