Gabby Klein v. Altria Group

You or someone in your family may have purchased or otherwise acquired Altria securities during the period from October 25, 2018, and April 1, 2020, inclusive.

The Court directed that the Notice be sent to Class Members because they have a right to know about the proposed Settlement of this class action lawsuit, and about all of their options, before the Court decides whether to approve the Settlement. If the Court approves the Settlement, and after objections and appeals are resolved, an administrator appointed by the Court will make the payments that the Settlement allows.

The Notice explains the lawsuit, the Settlement, Class Members’ legal rights, what benefits are available, who is eligible for them, and how to get them. A copy of the Notice is available here.

In a class action, one or more persons or entities (in this case, Lead Plaintiffs), sue on behalf of people and entities who have similar claims. Together, these people and entities are a “class” and each is a “class member.” Class actions allow the adjudication of many individuals’ similar claims that might be too small economically to bring as individual actions. One court resolves the issues for all class members at the same time, except for those who exclude themselves, or “opt-out,” from the class.

The Court did not finally decide in favor of Plaintiffs or Defendants. Instead, both sides agreed to a settlement. That way, they avoid the risks and cost of a trial. Plaintiffs and their attorneys think the Settlement is in the best interest of the Settlement Class.

The Court directed, for the purposes of the proposed Settlement, that everyone who fits this description is a Class Member and subject to the Settlement unless they are an excluded person or take steps to exclude themselves from the Settlement Class:

All persons and entities that purchased, or otherwise acquired Altria Group Inc. securities between October 25, 2018, and April 1, 2020, inclusive and were damaged thereby, except for certain persons and entities who are excluded from the Settlement Class.

If one of your mutual funds purchased Altria Group Inc. securities during the Class Period, that does not make you a Class Member, although your mutual fund may be. You are a Class Member only if you individually purchased or acquired Altria Group Inc. securities during the Class Period. Altria Group Inc. may be referred to by the ticker symbol “MO” in your trading documentation. Check your investment records or contact your broker to see if you have any eligible purchases or acquisitions.

If you are still not sure whether you are included, you can ask for free help. You can call 1-855-604-1694 for more information. Or you can fill out and return the Claim Form, or submit it online, to see if you qualify.

Yes. There are some individuals and entities who are excluded from the Settlement Class by definition. Excluded from the Class are: (i) Defendants; (ii) any person who was an officer or director of the Company and/or Altria Group Inc. during the Class Period; (iii) the Company’s and/or Altria Group Inc.'s affiliates and subsidiaries; (iv) members of the immediate family of each Individual Defendant; (v) any entity in which any Defendant has or had a controlling interest during the Class Period; and (vi) the legal representatives, heirs, successors or assigns of any excluded person or entity, in their capacities as such. Also excluded from the Settlement Class is anyone who timely and validly seeks exclusion from the Settlement Class in accordance with the procedures described in FAQ 11.

In exchange for the Settlement and the release of the Released Plaintiffs' Claims against the Defendants’ Releasees (see FAQ 10), Altria Group Inc. has agreed to pay $90,000,000.00 into an escrow account, which, along with any interest earned, will be distributed after deduction of Court-awarded attorneys’ fees and litigation expenses, Notice and Administration Costs, Taxes, and Tax Expenses, and any other fees or expenses approved by the Court (the “Net Settlement Fund”), to Class Members who send in valid and timely Claim Forms that are eligible for a payment. The Plan of Allocation is described in more detail on pages 13–16 of the Notice.

Payments to Authorized Claimants commenced on May 12, 2023. If you have questions about your payment, please contact the Claims Administrator at 1-855-604-1694.

The deadline to submit a claim was April 5, 2022.

Payments to Authorized Claimants commenced on May 12, 2023. If you have questions about your payment, please contact the Claims Administrator at 1-855-604-1694.

Unless you exclude yourself, you will remain in the Settlement Class, which means that upon the “Effective Date” of the Settlement, you will release all “Released Plaintiffs' Claims” against the “Defendants’ Releasees.” For additional information and a definition of these terms, please review Question 21 and 22 of the Notice.

The deadline to exclude yourself was March 10, 2022.

The deadline to exclude yourself was March 10, 2022.

No, only Class Members are eligible to recover money from the Settlement.

Pomerantz LLP and Robbins Geller Rudman & Dowd LLP, Lead Counsel, represent all Class Members in this Action. You will not be separately charged for these lawyers. The Court will determine the amount of attorneys’ fees and expenses, which will be paid from the Settlement Amount. If you want to be represented by your own lawyer, you may hire one at your own expense.

Lead Counsel has not received any payment for its services in conducting this litigation on behalf of Plaintiffs and the members of the Class, nor has it been reimbursed for its out-of-pocket expenditures. If the Settlement is approved by the Court, Lead Counsel will apply to the Court for attorneys’ fees not to exceed 31% of the Settlement Amount plus interest, and reimbursement of expenses not to exceed $1,700,000. If the amount requested by counsel is approved by the Court, the average cost of fees would be approximately $0.05 per share. In addition, a Compensatory Award for the time and expenses incurred by the Lead Plaintiffs will be requested, not to exceed $69,000.

The deadline to submit objections was March 10, 2022.

Objecting is telling the Court that you do not like something about the proposed Settlement, Plan of Allocation, or Lead Counsel’s Fee and Expense Application. You can still recover money from the Settlement. You can object only if you stay in the Settlement Class. Excluding yourself is telling the Court that you do not want to be part of the Settlement Class. If you exclude yourself from the Settlement Class, you have no basis to object because the Settlement and the Action no longer affect you.

The Settlement Fairness Hearing was held on March 31, 2022. The Settlement was approved.

The Settlement Fairness Hearing was held on March 31, 2022. The Settlement was approved.

The Settlement Fairness Hearing was held on March 31, 2022. The Settlement was approved.

If you do nothing and you are a member of the Settlement Class, you will receive no money from this Settlement and you will be precluded from starting a lawsuit, continuing with a lawsuit, or being part of any other lawsuit against Defendants and the other Defendants’ Releasees concerning the Released Plaintiffs' Claims. To share in the Net Settlement Fund, you must submit a Claim Form. To start, continue, or be a part of any other lawsuit against Defendants and the other Defendants’ Releasees concerning the Released Plaintiffs' Claims, you must exclude yourself from the Settlement Class.

The Settlement Amount, and any interest it earns, is called the “Settlement Fund.” The Settlement Fund, after deduction of Court-approved attorneys’ fees and expenses, Notice and Administration Costs, Taxes, and any other fees or expenses approved by the Court is the “Net Settlement Fund.” The Net Settlement Fund will be distributed according to the Plan of Allocation (described in the Notice) to members of the Settlement Class who timely submit valid Claim Forms that show a Recognized Claim according to the Plan of Allocation approved by the Court.

Class Members who do not timely submit valid Claim Forms will not share in the Net Settlement Fund, but will otherwise be bound by the terms of the Settlement and what happens in the Action. The Court may approve the Plan of Allocation or modify it without additional notice to the Settlement Class.

The Plan of Allocation is on pages 13–16 of the Notice, found here.

The CUSIP for the Class Period is 02209S103. The ticker symbol from October 25, 2018, through April 1, 2020 was MO.