The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; And (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the “Notice”). A copy of the Notice can be found on the Important Documents page at the top of this website. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
This website relates to a proposed Settlement of claims in a pending securities class action brought by investors alleging, among other things, that defendants Citrix Systems, Inc. (“Citrix”), Robert M. Calderoni, Nanci E. Caldwell, Murray J. Demo, Thomas E. Hogan, Moira A. Kilcoyne, Robert E. Knowling, Jr., Peter J. Sacripanti, and J. Donald Sherman (the “Individual Defendants” and collectively, with Citrix, “Defendants”) and collectively with Plaintiffs, the “Parties”) violated the federal securities laws by making false and misleading statements regarding Citrix. Defendants deny the allegations of wrongdoing asserted in this Action, and deny any liability whatsoever to any member of the Class.
Subject to Court approval, Plaintiffs, on behalf of themselves and the Class, have agreed to settle the Action in exchange for a settlement payment of $17,500,000 in cash or immediately available funds (the “Settlement Amount”) to be deposited into an Escrow Account. The Net Settlement Fund (i.e., the Settlement Amount plus any and all interest earned thereon (the “Settlement Fund”) less (a) any Taxes, (b) any Notice and Administration Costs, (c) any Litigation Expenses awarded by the Court, and (d) any attorneys’ fees awarded by the Court) will be distributed in accordance with a plan of allocation that is approved by the Court, which will determine how the Net Settlement Fund shall be allocated among members of the Class.
If you are a member of the Class, you are subject to the Settlement, unless you timely request to be excluded. The Class consists of:
All persons and entities other than defendants who held (of record or beneficially) common stock of Citrix Systems, Inc. at any time from March 8, 2022, up to and through September 30, 2022, both dates inclusive.
Excluded from the Class are Defendants; members of their Immediate Families; any entity in which any Defendant had a controlling or partnership interest during the Settlement Class Period; any person who served as an Officer (as defined in the Stipulation) or Director of Citrix during the Settlement Class Period; and the successors, heirs, and assigns of any excluded. Also excluded from the Class are any persons or entities who or which exclude themselves by submitting a valid and timely request for exclusion and persons and entities with no compensable losses.
Payments to eligible claimants will be made only if the Court approves the Settlement and the Plan of Allocation or a different plan of allocation, only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
If you have any questions about the Notice, the Settlement, or your eligibility, please do not contact Citrix or its counsel. All questions should be directed to Class Counsel or the Claims Administrator.
| YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT: |
| SUBMIT A CLAIM FORM BY MAIL POSTMARKED NO LATER THAN DECEMBER 17, 2024 OR ELECTRONICALLY BY 11:59 P.M. EST ON DECEMBER 17, 2024 |
This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Class Member and you remain in the Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (defined in ¶31 of the Notice) that you have against Defendants and Defendants’ Releasees (defined in ¶32 of the Notice), so it is in your interest to submit a Claim Form. |
| EXCLUDE YOURSELF FROM THE CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 14, 2024. |
If you exclude yourself from the Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or Defendants’ Releasees concerning the Released Plaintiff’s Claims. |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 14, 2024. |
If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation or the fee and expense request unless you are a Class Member and do not exclude yourself from the Class. |
| GO TO A HEARING ON NOVEMBER 4, 2024 AT 10 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 14, 2024. |
Filing a written objection and notice of intention to appear by October 14, 2024 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and reimbursement of Litigation Expenses. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. |
| DO NOTHING |
If you are a member of the Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action. |
How do I obtain more information?
Detailed information about the Settlement is contained in the Notice, a copy of which can be found in the Important Documents page of this page. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 855-680-2526, emailing info@CitrixSystemsMergerSettlement.com, or mailing a letter to:
Juan A. Vargas v. Citrix Systems, Inc.
c/o JND Legal Administration
PO Box 91498
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.
© JND Legal Administration. All rights reserved.
