Orbital ATK Securities Litigation
HomeCase DocumentsContact UsFile Claim

Welcome to the Orbital ATK Securities Litigation Website

This website has been established to provide general information related to the proposed settlement of the case referred to as Steven Knurr v. Orbital ATK, Inc., et al., Civil Action No. 1:16-cv-01031-TSE-MSN (the "Action"), pending before the United States District Court for the Eastern District of Virginia (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Settlement Agreement (the "Stipulation" or the "Settlement Agreement") dated January 30, 2019, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected by the Settlement if you (i) held stock in Orbital Sciences Corporation ("Orbital Sciences") as of December 16, 2014 and exchanged shares of Orbital Sciences stock for shares of Orbital ATK, Inc. ("Orbital ATK") common stock on or around February 9, 2015 in connection with the Merger between Alliant Techsystems Inc. ("Alliant") and Orbital Sciences, and/or (ii) purchased Orbital ATK common stock between May 28, 2015 and August 9, 2016, inclusive (the "Class Period").

As more fully described in the Notice of Pendency and Proposed Settlement of Class Action (the "Notice"), the initial complaint in this Action was filed on August 12, 2016. On November 10, 2016, the Court appointed Pension Trust as Lead Plaintiff and Robbins Geller Rudman & Dowd LLP as Lead Counsel.

In an effort to conserve judicial resources, save litigation expenses, and attempt to settle the litigation, the parties engaged the services of mediator Gregory P. Lindstrom of Phillips ADR, who has extensive experience mediating complex class action litigations such as this Action. The Settling Parties engaged in two all-day mediation sessions with Mr. Lindstrom; the first was held in June 2018 and the second was held in November 2018, after discovery was largely complete. Both mediations included the exchange of briefs setting forth the Settling Parties’ respective arguments concerning liability and damages, and the Settling Parties had substantial communications with the mediator regarding their respective views of the merits of the Action before, during, and after the mediations. At the conclusion of each mediation session, the Settling Parties did not reach an agreement. The Settling Parties continued to have numerous telephonic exchanges with Mr. Lindstrom regarding a potential resolution of the Action. On December 21, 2018, Mr. Lindstrom issued a mediator’s proposal, which the Settling Parties accepted.

The Settlement, if approved, will result in the creation of a cash settlement fund of $108,000,000.00 (the “Settlement Amount”). The Settlement Amount, plus accrued interest (the “Settlement Fund”) and minus the costs of the Notice and all costs associated with the administration of the Settlement, as well as any attorneys’ fees and expenses that may be approved by the Court (the “Net Settlement Fund”), will be distributed to Class Members pursuant to the Plan of Allocation that is described in the Notice.

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. These lawyers are called Lead Counsel. These lawyers will apply to the Court for payment of attorneys’ fees and expenses from the Settlement Fund; you will not be otherwise charged for their work. If you want to be represented by your own lawyer, you may hire one at your own expense.

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A PROOF OF CLAIM The only way to be eligible to receive a payment from the Settlement. Proofs of Claim must be postmarked (if mailed) or received (if submitted online) on or before May 30, 2019.
EXCLUDE YOURSELF FROM THE SETTLEMENT BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against any of the Defendants or any other Released Persons about the legal claims being resolved by this Settlement. Any prosecution of those legal claims shall be entirely at your expense and excludes you from any distributions from the Settlement Fund. Exclusions must be postmarked on or before May 10, 2019.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION Write to the Court about any objections you may have to the Settlement, the Plan of Allocation and/or the request for attorneys’ fees and expenses. You will still be a member of the Class. Objections must be received by the Court and counsel for the Settling Parties on or before May 10, 2019.
GO TO THE HEARING ON JUNE 7, 2019, AND FILE A NOTICE OF INTENTION TO APPEAR Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel for the Settling Parties on or before May 10, 2019. If you submit a written objection, you may (but you do not have to) attend the hearing.
DO NOTHING Receive no payment. You will, however, still be a member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the litigation.

DEADLINES

Submit Claim: May 30, 2019
Request Exclusion: May 10, 2019
File Objection: May 10, 2019
Court Hearing on Fairness of Settlement: June 7, 2019, at 1:00 p.m. ET