Settled: October 29, 2014
Labaton Sucharow and co-counsel, on behalf of lead plaintiffs, reached a $22.5 million Settlement with Autoliv, Inc. ("Autoliv" or the "Company"), Jan Carlson (Chief Executive Officer), Mats Wallin (Chief Financial Officer) and Takayoshi Matsunaga. On October 29, 2014, the Honorable J. Paul Oetken of the United States District Court of the Southern District of New York finally approved the Settlement.
The case involves allegations that Defendants Autoliv, Jan Carlson, Mats Wallin and Takayoshi Matsunaga made false and misleading statements during the period between October 26, 2010 and July 21, 2011, which led investors to believe the Company's record margins and financial results resulted from lawful business practices and were sustainable. Autoliv and the individual defendants also allegedly made false and misleading statements concerning the extent to which the Company and its employees complied with laws and internal policies prohibiting illegal and anti-competitive conduct.
The case is Construction Laborers Pension Trust of Greater St. Louis v. Autoliv, Inc., No. 13-cv-02546 (S.D.N.Y.). Lead plaintiffs are Electrical Workers Pension Fund Local 103 IBEW, Monroe County Employees' Retirement System and Construction Laborers Pension Trust of Greater St. Louis. Labaton Sucharow represents Electrical Workers Pension Fund Local 103 IBEW.
Submit Proof of Claim
If you purchased or otherwise acquired Autoliv common stock during the period from October 26, 2010 through and including July 21, 2011 (the "Class Period"), you may be eligible to recover from the Settlement Fund if you submit a Proof of Claim so that it is postmarked or received no later than December 3, 2014.
A Settlement Hearing was held at 3:00 p.m., on Friday, October 24, 2014, at the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007, in Courtroom 706.
The deadline for objecting to the Settlement or seeking exclusion from the Class has passed.
Copies of relevant documents can be accessed by clicking on the links to the right.