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Frontier Communications Securities

1-877-311-3734

This official website is maintained by the Claims Administrator supervised by Lead Counsel in the action entitled In Re Frontier Communications Corporation Stockholders Litigation, Case No. 3:17-cv-01617-VAB (the “Action”), pending in the United States District Court, District of Connecticut (the “Court”).
NOTE:

The initial distribution of net settlement funds took place on January 26, 2024. Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available.

Frontier Communications Corporation Stockholders Litigation

The Settlement Class consists of: 

all persons and entities who purchased or otherwise acquired shares of publicly traded common stock and Mandatory Convertible Preferred Stock of Frontier Communications Corporation between April 25, 2016 and October 31, 2017, inclusive (the “Class Period”), and who allegedly damaged thereby.

By order dated March 8, 2019, the Court granted Defendants’ motions to dismiss in their entirety, but afforded Plaintiffs the opportunity to move for leave to amend the Consolidated Amended Complaint. On May 10, 2019, Plaintiffs filed their motion for leave to amend the complaint and their Proposed Amended Complaint, which addresses the deficiencies that the Court identified in its ruling. Defendants filed their opposition to our motion for leave to amend on July 15, 2019. Plaintiffs filed their reply in further support of motion to amend on August 12, 2019. On September 29, 2020, the Second Circuit Court of Appeals denied our motion to lift the automatic bankruptcy stay as to the one remaining individual defendant, Frontier's former CEO, Defendant McCarthy. As a result, our appeal remains stayed pending the completion of Frontier's bankruptcy proceedings.

Lead Plaintiffs Arkansas Teacher Retirement System and Carlos Lagomarsino (collectively, “Lead Plaintiffs”), on behalf of themselves and the Settlement Class (as defined in below), have reached a settlement of the Action for $15,500,000 in cash.

On May 10, 2022, the Court held a hearing to consider final approval of the Settlement and related matters. On May 20, 2022, the Court entered an Order granting Lead Plaintiffs’ motion for final approval of the Settlement and Plan of Allocation and Lead Counsel’s motion for attorneys’ fees and expenses. On June 29, 2022, the Clerk of the Court entered a Judgment consistent with the Court’s May 20, 2022 Order and closing this case.

The claims administration has now concluded. Counsel filed its distribution motion seeking approval of the distribution plan on October 20, 2023 and it was approved on November 21, 2023. The initial distribution of funds took place in January 2024. Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available. 

If you have questions, you may call the Frontier Communications Securities Litigation Help Line at 1-877-311-3734 or email info@FrontierCommunicationsSecuritiesLitigation.com.