Willis Towers Watson Shareholder Litigation

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Willis Towers Watson Shareholder Litigation
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The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Actions and Proposed Settlements; (II) Settlement Fairness Hearings; and (III) Motions for Attorneys’ Fees and Litigation Expenses (the “Notice”), which you can access by clicking here . Since this website is just a summary, you should review the Notice for additional details.

This website concerns the settlement of two separate class actions, the Federal Action and Delaware Action, which relate to the merger transaction (the “Merger”) by which Towers Watson & Co. (“Towers”) and Willis Group Holdings plc (“Willis”) merged to become Willis Towers Watson plc  (“WTW”).  The Merger closed on January 4, 2016.

The Parties have reached settlements of the two Actions which total $90,000,000 in cash (the “Settlements”):  $75 million for the settlement of the Federal Action and $15 million for the settlement of the Delaware Action.  On May 21, 2021, the Federal Court entered a Judgment approving the Federal Settlement and orders approving the Plan of Allocation and Lead Counsel’s motion for attorneys’ fees and litigation expenses in the Federal Action.  On May 25, 2021, the Delaware Court approved the Delaware Settlement, finally certified the Delaware Class and approved Lead Counsel’s motion for attorneys’ fees and litigation expenses in the Delaware Action. 

If you are a member of the Federal Class, you are subject to the Federal Settlement and you may be eligible for a payment from the Federal Settlement, unless you timely request to be excluded.  The Federal Class consists of: 

all persons and entities that were Towers shareholders, including shareholders of record and beneficial owners, as of both October 1, 2015, the record date for Towers shareholders to be eligible to vote on the Merger of Towers and Willis, and January 4, 2016, the date the Merger transaction between Towers and Willis closed, and who were allegedly damaged thereby.

Excluded from the Federal Class by definition are certain persons and entities (see paragraph 39 of the Notice) and those who requested exclusion from Federal Class pursuant to the instructions set forth in the Notice.

To be a Federal Class Member, you do not need to have held all the Towers shares that you owned on October 1, 2015 until January 4, 2016.  You need only have continued to own at least some of that Towers common stock that you held on October 1, 2015 as of January 4, 2016.  You are excluded from the Federal Class if you sold all of your Towers shares before January 4, 2016.  Any of your shares which were sold between October 1, 2015 and January 4, 2016 will not be eligible for recovery in the Settlements.  If you held more Towers shares on January 4, 2016 than you held on October 1, 2015, then only the shares you held on October 1, 2015 are eligible for recovery in the Federal Settlement.

If you are a member of the Delaware Class, you are subject to the Delaware Settlement and you may be eligible for a payment from the Delaware Settlement. The Delaware Class consists of:

all former record and beneficial owners of the common stock of Towers at any time during the period from June 29, 2015 through and including January 4, 2016, together with their successors and assigns.


To be a member of the Delaware Class and be eligible to recover in the Delaware Settlement, you only need to have held Towers shares on January 4, 2016.  Certain persons and entities are excluded from the Delaware by definition (see paragraph 41 of the Notice).

Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu on the left of this page.

Payments to eligible claimants will be made only after the completion of all claims processing. Please be patient, as this process will take some time to complete.


Please read the Notice carefully.  If you have questions, you may call the Willis Towers Watson Shareholder Litigation Help Line at 1-800-983-6133 or email info@WillisTowersWatsonShareholderLitigation.com.  

 

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENTS:

SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN MAY 25, 2021.

This is the only way to be eligible to receive a payment from the proceeds of the Federal Settlement or the Delaware Settlement.

DO NOTHING.

If you are a member of one or both of the Classes and do not submit a valid Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement(s) obtained on behalf of the Class(es) in which you are a member.  You will, however, remain a member of the Class(es) that applies (apply) to you, which means that you give up your right to sue about the claims that are resolved by the applicable Settlement(s), and you will be bound by any judgments or orders entered by the Court with respect to that (those) Settlement(s).

 


 
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