Frequently Asked Questions

  1. Why did I get the Notice?

    You or someone in your family, or an investment account for which you serve as a custodian, may have purchased or otherwise acquired the publicly traded common stock of Celadon during the period from October 29, 2013, through April 13, 2018, inclusive, and been damaged thereby.

    The Court directed that the Notice be sent to Settlement Class Members because they had a right to know about the proposed Settlement of this class action lawsuit, and about all of their options, before the Court decided whether to approve the Settlement.

    The Notice explains the lawsuit, the Settlement, your legal rights, what benefits are available, who is eligible for them, and how to get them.

    Back To Top
  2. Why is this a class action?

    In a class action, one or more people called class representatives, sue on behalf of people who have similar claims. All these people are a class or class members. Bringing a case, such as this one, as a class action allows adjudication of many similar claims of persons and entities that might be economically too small to bring in individual actions. One court resolves the issues for all class members, except for those who exclude themselves from the class.

    Back To Top
  3. Why is there a Settlement?

    The Court did not finally decide in favor of Lead Plaintiffs or Defendants. Instead, both sides agreed to a settlement. That way, they avoid the risks and cost of a trial. Lead Plaintiffs and Lead Counsel believe that the proposed Settlement is in the best interests of the Settlement Class.

    Back To Top
  4. How do I know if I am part of the Settlement Class? Are there exceptions to being included in the Settlement Class?

    The Court directed, for the purposes of the proposed Settlement, that everyone who fits this description is a Settlement Class Member:

    All persons and entities that purchased, or otherwise acquired the publicly traded common stock of Celadon during the period from October 29, 2013, through April 13, 2018, inclusive, and were damaged thereby.

    There are some individuals and entities that are excluded from the Settlement Class by definition. Excluded from the Settlement Class are:

    1. The Defendants;
    2. The present and former officers and directors of the Company;
    3. The Company’s subsidiaries;
    4. The Company’s employee retirement and benefit plan(s) and their participants or beneficiaries, to the extent they made purchases through such plan(s);
    5. Members of the immediate families of the Individual Defendants;
    6. Any entity in which any Defendant has or had a controlling interest; and
    7. The legal representatives, heirs, successors, and assigns of any such excluded party.

    Also excluded from the Settlement Class is any Person that timely and validly sought exclusion in accordance with the procedures outlined in the Notice.

    If one of your mutual funds purchased shares of Celadon common stock during the Class Period, that alone does not make you a Settlement Class Member. You are a Settlement Class Member only if you purchased or otherwise acquired your shares during the Class Period.

    Check your investment records or contact your broker to see if you purchased or otherwise acquired Celadon common stock during the Settlement Class Period.

    If you are still not sure whether you are included, you can ask for free help by calling 877-214-3826 for more information.

    Back To Top
  5. What is the ticker symbol/CUSIP?

    The CUSIP for the Class Period is 150838100. The ticker symbol from October 29, 2013 through April 3, 2018 was CGI and was changed to its current ticker symbol, CGIP, on April 4, 2018.

    Back To Top
  6. What does the Settlement provide?

    The Settlement provides that, in exchange for the Settlement and release of the Released Claims against the Released Defendants, Defendants have agreed to create a $5.5 million fund, which will be distributed, after deduction of Court-awarded attorneys’ fees, interest, and expenses, settlement administration costs, and any applicable Taxes, among all Settlement Class Members who send in valid Claim Forms pursuant to the Plan of Allocation.

    The Plan of Allocation is described in more detail on pages 10 - 16 of the Notice.

    Back To Top
  7. How will my claim be calculated?

    The $5,500,000 Settlement Amount, and any interest it earns, is called the “Settlement Fund.” The Settlement Fund, minus all Taxes, approved costs, fees and expenses (the Net Settlement Fund), will be distributed according to the Plan of Allocation (described in the Notice) to members of the Settlement Class who timely submit valid Claim Forms that show a Recognized Claim that are approved for payment by the Court (“Authorized Claimants”). Settlement Class Members who did not timely submit valid Claim Forms will not share in the Net Settlement Fund, but will otherwise be bound by the terms of the Settlement and what happens in the Action. Payments were issued to eligible claimants on January 9, 2020. If you have questions about your payment, please contact the Claims Administrator at 1-877-214-3826 (Toll-Free) or info@CeladonGroupSecuritiesLitigation.com.

    The Plan of Allocation is described in more detail on pages 10 - 16 of the Notice.

    Back To Top
  8. How much will my payment be?

    Your share of the Net Settlement Fund will depend on several things, including the total amount of claims represented by the valid Claim Forms that Settlement Class Members send in compared to the amount of your claim, all as calculated under the Plan of Allocation explained in the Notice.

    The total amount of the Net Settlement Fund available for the Initial Distribution was approximately $3.8 million. The total Recognized Claims under the Plan of Allocation for all Authorized Claimants eligible to participate in this distribution of the Net Settlement Fund was approximately $90 million. The pro rata share for the Initial Distribution is approximately 4.23%; each Authorized Claimant will receive this percentage of his, her, or its Recognized Claim.

    Back To Top
  9. How can I get a payment?

    To be eligible for a payment, you must have submitted a timely and valid Claim Form.

    Claim Forms must have been postmarked or received online no later than February 25, 2019.

    Back To Top
  10. When will I receive payment?

    Payments were issued to eligible claimants on January 9, 2020. If you have questions about your payment, please contact the Claims Administrator at 1-877-214-3826 (Toll-Free) or info@CeladonGroupSecuritiesLitigation.com.

    Back To Top
  11. What am I giving up to get a payment or to stay in the Settlement Class?

    Unless you exclude yourself, you will stay in the Settlement Class, which means that upon the “Effective Date” of the Settlement you will release all “Released Claims” against the “Released Defendant Parties.” For additional information and a definition of these terms, please review FAQ 10 of the Notice.

    Back To Top
  12. How do I “opt out” (exclude myself) from the Settlement Class?

    The deadline to exclude yourself from the Settlement Class was December 26, 2018. It is no longer possible to opt out of being a part of the Settlement Class.

    Back To Top
  13. If I do not exclude myself, can I sue the Defendants and the other Released Persons for the same thing later?

    No. If you are a Settlement Class Member, unless you excluded yourself, you give up any rights to sue the Defendants and the other Released Defendant Parties for any and all Released Claims. If you have a pending lawsuit against any of the Released Defendant Parties, speak to your lawyer in that case immediately. You must have excluded yourself from this Action to continue your own lawsuit. Remember, the exclusion deadline was December 26, 2018.

    Back To Top
  14. If I exclude myself, can I get money from the proposed Settlement?

    No. If you excluded yourself, you could not submit a Claim Form to ask for any money. But, you may exercise any right you may have to sue, continue to sue, or be part of a different lawsuit against the Defendants and the other Released Defendant Parties.

    Back To Top
  15. Do I have a lawyer in this case?

    The Court ordered that the law firm of Labaton Sucharow LLP represent the Settlement Class. These lawyers are called “Lead Counsel.” If you want to be represented by your own lawyer, you may hire one at your own expense.

    Back To Top
  16. How will the lawyers be paid?

    Plaintiffs’ Lead Counsel were awarded attorneys’ fees in the amount of 25% of the Settlement Fund, and $104,492.40 in litigation expenses, plus interest on such fees and expenses at the same rate as earned by the Settlement Fund. These sums were approved by the Court paid from the Settlement Fund. Settlement Class Members are not personally liable for any such fees or expenses. The Order Awarding Attorneys' Fees and Expenses can be found on the Important Documents page here.

    Back To Top
  17. How do I tell the Court that I do not like something about the Settlement?

    The deadline to object to the Settlement was December 26, 2018. Objections must have been filed with the Court and received by both Lead Counsel and Defendants' Counsel by this date. It is no longer possible to object to the Settlement.

    Back To Top
  18. What is the difference between objecting and seeking exclusion?

    Objecting is telling the Court that you do not like something about the Settlement. You can still recover money from the Settlement. You could have objected only if you stayed in the Settlement Class. Excluding yourself is telling the Court that you do not want to be part of the Settlement Class. If you excluded yourself, you could not have objected to the Settlement because it does not affect you.

    Back To Top
  19. When and where will the Court decide whether to approve the proposed Settlement?

    The Settlement Hearing occurred on January 16, 2019. At this hearing, the Court approved the Settlement, Plan of Allocation, and Attorneys' Fees and Expenses. The Court Orders from this hearing can be found on the Important Documents page.

    Back To Top
  20. Do I have to come to the hearing?

    No. The Settlement Hearing occurred on January 16, 2019. Lead Counsel answered questions the Court had. Settlement Class Members did not need to appear at the hearing or take any other action to indicate their approval.

    Back To Top
  21. May I speak at the hearing?

    The deadline to provide notice of your intention to speak at the Settlement Hearing was December 26, 2018.

    The Settlement Hearing occurred on January 16, 2019.

    Back To Top
  22. What happens if I do nothing at all?

    If you did nothing, you will not receive any money from this Settlement. In addition, unless you excluded yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against Defendants and their Released Defendant Parties about the Released Claims in this case.

    Back To Top