ATTENTION ALL SETTLEMENT CLASS MEMBERS: The Distribution Plan was approved per the Court’s order dated January 5, 2023 (“Order Granting Lead Counsel’s Motion for Distribution of the Net Settlement Fund to Authorized Claimants"). The initial distribution commenced on March 28, 2023, and payments have been made to all authorized Claimants.
The information contained on this website is only a summary of the information presented in more detail in the Notice of (i) Pendency of Class Action and Class Certification; (ii) Proposed Settlement; (iii) Motion for an Award of Attorneys' Fees and Litigation Expenses; and (iv) Settlement Fairness Hearing. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Actions and Settlement
The purpose of the Notice is to inform you of the pendency of the securities class actions filed in federal and state courts (the “Actions”), the approved settlement of the Actions (the Settlement"), and that a hearing was held by the Court to consider. The purpose of the Notice is to inform you of the pendency of the securities class actions filed in federal and state courts (the “Actions”), the approved settlement of the Actions (the “Settlement”), and that a hearing was held by the Court to consider: (i) whether the Settlement should be approved; (ii) whether the plan for allocating the proceeds of the Settlement (the “Plan of Allocation”) should be approved; and (iii) Lead Counsel’s application for attorneys’ fees and Litigation Expenses. The motions were approved in full.
REV Group has its principal executive offices in Milwaukee, Wisconsin. REV Group’s common stock trades on the New York Stock Exchange (“NYSE”) under the symbol “REVG.” REV Group designs, manufactures, and distributes specialty vehicles. The Company operates three segments: 1) Commercial, which manufactures transit and shuttle buses, Type A school buses, mobility vans, sweepers, and terminal trucks; 2) Recreation, which manufactures motorized RV products; and 3) Fire & Emergency (“F&E”), which manufactures fire trucks and ambulance-related products. Plaintiffs allege that Defendants made material misstatements and omissions of material fact about REV Group’s operating efficiencies, margin growth, and financial guidance.
Plaintiffs, on behalf of the Classes agreed to settle the Actions in exchange for a payment of $14,250,000 (the “Settlement Amount”), which was deposited into an interest-bearing Escrow Account (the “Settlement Fund”). The Net Settlement Fund (as defined in the Notice) has now been distributed to Class Members according to the Court-Approved Plan of Allocation (the “Plan of Allocation” or “Plan”). The approved Plan of Allocation is set forth on pages 17-22 in the Notice.
Plaintiffs, on behalf of the Classes, settled the Actions in exchange for a payment of $14,250,000 (the “Settlement Amount”), which will be deposited into an interest-bearing Escrow Account (the “Settlement Fund”). The Net Settlement Fund (as defined in the Notice) has now been distributed to Class Members according to the Court-approved plan of allocation (the “Plan of Allocation” or “Plan”). The approved Plan of Allocation is set forth on pages 17-21 in the Notice.
The Classes consists of:
All persons or entities who purchased shares of REV Group, Inc. (“REV Group” or the “Company”) common stock (i) traceable to the January 26, 2017 initial public offering (the “IPO”); (ii) traceable to the October 13, 2017 secondary public offering (the “SPO”); or (iii) purchased or otherwise acquired shares of REV Group common stock during the period from January 26, 2017 through June 7, 2018, inclusive (the “Relevant Period”), you are a “Class Member” and may be entitled to a payment from a class action settlement. Purchasers traceable to the IPO are the “IPO Class,” purchasers traceable to the SPO are the “SPO Class,” and purchasers or other acquirors during the Relevant Period are the “’34 Act Class.” The IPO Class, SPO Class, and ’34 Act Class are referred to as the “Classes.”
If you are a member of the Classes, in order to be potentially eligible for a payment from the Settlement, you needed to fill out a Claim Form by 11:59 p.m. PST on December 21, 2021 or mail a claim form to the Claims Administrator at the address below, postmarked no later than December 21, 2021.
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice available on the Important Documents page on this website. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-833-636-2108; emailing Info@RevGroupSecuritiesLitigation.com; or mailing a letter to:
In Re REV Group, Inc. Securities Litigation
c/o JND Legal Administration
P.O. Box 91337
Seattle, WA 98111
Inquiries should NOT be directed to the Court or Defendants