Welcome to the King Digital Entertainment plc Shareholder Litigation Website
|The hearing regarding the Motion for Final Approval of Class Action Settlement and Plan of Allocation of Settlement Proceeds; and an Award of Attorneys' Fees and Expenses scheduled for May 19, 2017 at 9:00 a.m., has been rescheduled for May 31, 2017 at 2:00 p.m.
This website has been established to provide general information related to the proposed settlement ("Settlement") of the action entitled In re King Digital Entertainment plc Shareholder Litigation, Lead Case No. CGC-15-544770 (the "Litigation"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated October 31, 2016, which can be found and downloaded by clicking on the Case Documents tab above.
This Litigation is currently pending before the Honorable Curtis E.A. Karnow of the San Francisco County Superior Court ("Court").
The Court has ordered that Robbins Geller Rudman & Dowd LLP and Scott + Scott, Attorneys at Law, LLP (“Class Counsel”) will represent the interests of all Members of the Class. You will not be separately charged for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.
In exchange for the Settlement and dismissal of the Litigation, Defendants have agreed that King Digital Entertainment plc ("King" or the "Company") shall pay, or cause to be paid, on behalf of all Defendants, $18,500,000 to be divided, after taxes, notice and settlement administration expenses and costs, any attorneys’ fees and expenses awarded by the Court and any payment to Class Representatives for the time and expenses in representing the Class approved by the Court (the “Net Settlement Fund”). The Net Settlement Fund will be distributed to eligible Class Members pursuant to the Plan of Allocation that is described in the Notice of Proposed Settlement of Class Action ("Notice").
Background and Description of the Litigation
Plaintiffs brought this Litigation as a securities class action against King, certain of its officers and directors, and the underwriters for King’s IPO, alleging that they violated the Securities Act of 1933 (the “Securities Act”) by misrepresenting and omitting material facts in King’s Registration Statement in connection with King’s March 26, 2014 IPO, including: the decline in Candy Crush gross bookings and the alleged inability of the Company to diversify away from Candy Crush; the decline in monthly paying users; and the alleged practice of deleting customer lives on Facebook that was impacting revenues of its largest revenue producing game. Defendants deny these allegations.
The Class is defined as all persons and entities who purchased King ordinary shares from March 26, 2014 to September 22, 2014, and who sold those shares at a loss.
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation, both of which can be found and downloaded from the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.
Your Legal Rights and Options in this Settlement
|SUBMIT A PROOF OF CLAIM
||You are required to mail, or electronically fill out on this website, a Proof of Claim to receive money under this Settlement. Proofs of Claim must be postmarked or submitted online on or before the Deadline. To obtain a Proof of Claim, or to access the electronic Proof of Claim, click the File Claim tab above, or you may contact the Claims Administrator by telephone or regular mail at the address on the Contact Us tab above. If you do not mail or submit your Proof of Claim online, you will not receive any money recovery, but you will still be bound by the terms of the Settlement and will release your claims relating to the lawsuit as further explained in Section 14 of the Notice.
May 23, 2017
||To exclude yourself from the Class, you must mail a written request for exclusion to the Claims Administrator, postmarked on or before the Deadline. If you exclude yourself from the Class, you will not receive any money from the Settlement and you will not be able to object to any aspect of the Settlement. Excluding yourself is the only option that allows you to ever bring or maintain your own lawsuit against Defendants and their Related Persons (defined in the Notice) based on your purchase of King ordinary shares from March 26, 2014 to September 22, 2014, that were sold at a loss, regarding claims relating to the lawsuit as further explained in Section 14 of the Notice. The Judgment, whether favorable or not, will bind all Class Members who do not request exclusion. See Section 15 of the Notice for further instructions on how to exclude yourself from the Class.
April 24, 2017
||You may write to Class Counsel about why you object to (i.e., do not like) the Settlement and think it should not be approved. You can also object to the Plan of Allocation (i.e., how the Settlement proceeds are going to be divided among Members of the Class), Class Counsel’s application for an award of attorneys’ fees and expenses and Class Representatives’ request for service awards for bringing and pursuing the Litigation in representing the Class. If you choose to object, you must mail your written objection to Class Counsel, postmarked on or before the Deadline. If you object, Class Counsel will submit your written objection to the Court. Submitting an objection does not exclude you from the Class. See Section 16 of the Notice for further instructions on how to make your objection.
April 24, 2017
|GO TO THE “SETTLEMENT FAIRNESS HEARING”
||The Court will hold a “Settlement Fairness Hearing” to consider the Settlement, the Plan of Allocation, the request for attorneys’ fees and expenses of the lawyers who brought the Litigation, and the Class Representatives’ request for service awards for bringing and pursuing the Litigation on behalf of the Class. You (either you personally or through a lawyer you hire at your own expense) may, but are not required to, speak at the Settlement Fairness Hearing about any objection you submitted.
May 31, 2017 at 2:00 p.m.
||You will give up your right to object to the Settlement and you will not be able to be a part of any other lawsuit about the legal claims in this case. Also, if you do nothing you will not recover any money under the Settlement.