If you purchased JAKKS Pacific, Inc. common stock between December 3, 1999 and October 19, 2004, inclusive, then you could get a payment from a class action settlement.
A class action settlement has been reached in a class action lawsuit pending against JAKKS Pacific, Inc. (“JAKKS Pacific” or “Defendant”) in the United States District Court for the Southern District of New York (styled In re JAKKS Pacific, Inc. Shareholders Class Action Litigation, Civil Action Case No. 04-CV-8807 (RJS) (Judge Richard J. Sullivan)) alleging that in order to procure valuable international license agreements to manufacture and market World Wrestling Entertainment, Inc. (“WWE”) toys, JAKKS allegedly bribed a senior WWE executive and WWE’s licensing agent, Stanley Shenker & Associates, Inc. (“SSAI”) and in exchange for the alleged bribes from JAKKS, allegedly agreed to assist JAKKS in securing a WWE videogame license and favorable amendments to the toy licenses, according to the securities class action settlement notice.
The JAKKS Pacific settlement class members reportedly include all persons who purchased JAKKS common stock between December 3, 1999 and October 19, 2004, inclusive, unless otherwise excluded.
In exchange for the Settlement and dismissal of the JAKKS Pacific securities class action litigation, Defendants have agreed to create a $3.925 million cash fund to be divided, after fees and expenses, among all JAKKS Pacific class members who send in valid Proof of Claim forms.
The Court is scheduled to hold a Settlement Fairness Hearing at 10:00 a.m. on October 19, 2010, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, New York 10007-1312. At this settlement hearing the Court will consider whether the JAKKS Pacific class action settlement is fair, reasonable and adequate.
For more information on the JAKKS Pacific securities fraud class action lawsuit settlement and potential settlement benefits and settlement updates, visit the JAKKS Pacific securities litigation website.
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