Important Update: Please be advised that the Initial Distribution of the Settlement Fund has been completed.
This Class Action pertains to all persons who purchased or otherwise acquired publicly traded common stock, 7.125% Notes due 2011, 7.875% Notes due 2021 or FELINE PACS of The Williams Companies, Inc. (“Williams”) between July 24, 2000 and July 22, 2002, inclusive, and were damaged thereby. The Settlement provides for the payment of $311,000,000 in cash by the Settling Defendants.
The Settlement resolves the Settlement Class litigation (the “Securities Class Action”) against Williams and certain of its officers and directors and its auditor, Ernst & Young, alleging violations of the Securities Act of 1933 and the Securities and Exchange Act of 1934.
Settling Defendants have denied and continue to deny liability with respect to each and all of the claims alleged by Lead Plaintiffs on behalf of the Settlement Class.
The Settlement Hearing was held on February 9, 2007. On February 12, 2007, the Court entered its Order Approving Plan of Allocation of Settlement Proceeds, Order Awarding Aggregate Attorneys' Fees and Reimbursement of Litigation Expenses, and its Judgment in this case. View the Court Documents. In order to be eligible to share in the benefits of the Settlement, Class Members must have submitted a completed and signed Proof of Claim Form postmarked no later than February 16, 2007.
The Notice of (1) Proposed Settlement of Securities Class Action, (2) Certification of a Settlement Class, (3) Settlement Hearing, (4) Application for Attorneys' Fees and Expenses, and (5) Proposed Plan of Allocation (the "Notice") will tell you what the case is about, the terms of the Settlement, and how funds will be distributed under this Settlement. View the Notice and the Summary Notice.
To participate in the Settlement and receive distribution from the Net Settlement Fund, you must have timely completed and returned the Proof of Claim and Release Form.
The Proof of Claim and Release Form was required to be postmarked on or before February 16, 2007, and mailed to the Claims Administrator at the following address:
In re: Williams Securities Litigation
c/o The Garden City Group, Inc.
P.O. Box 91185
Seattle, WA 98111-9285
Unless the Court orders otherwise, if you do not timely submit a valid Proof of Claim and Release, you will be barred from receiving any payment, but will in all other
respects be bound by the provisions of the Stipulation and the Judgment. View a Sample Proof of Claim and Release Form or download a Personalized Proof of Claim and Release.
Exclusions & Objections
The deadlines to request exclusion from (opt-out), or to object to, the Settlement have expired.
PLEASE NOTE THE FOLLOWING IMPORTANT DATES:
|February 16, 2007
|Postmark Deadline for Claim Form Submission
|December 22, 2006
|Postmark Deadline for Exclusion (Opt Out) from Class
|January 19, 2007
|Filing Deadline for Objections to Settlement
|February 9, 2007 at 10:00 a.m.
[Move your mouse over words in green to see the meaning for this Settlement.]