Frequently Asked Questions
Why did I get the Notice?
You received a Notice because the Court has certified a Class in this lawsuit and you were identified as a potential Class Member whose rights may be affected. This Notice explains that the Court has allowed, or “certified,” this action to proceed as a class-action lawsuit that may affect you.
A class action is a type of lawsuit in which one or several individuals or entities prosecute claims on behalf of all members of a group of similarly situated persons and entities (i.e., a class) to obtain monetary or other relief for the entire group. Class actions avoid the necessity of each member of a class having to file his, her, or its own separate lawsuit to obtain relief.
The Court decided that this lawsuit can proceed as a class action because it meets the requirements of Rule 4:32 of the New Jersey Court Rules, which governs class actions in New Jersey courts. Specifically, the Court found that a significant number of investors acquired the common stock of Newell pursuant to the Registration Statement (defined below) and that the claims alleged in the Action are common enough to apply to all of those investors.
Judge Mary K. Costello of the Superior Court of New Jersey, Law Division (Hudson County) is overseeing this class action. The lawsuit is titled Oklahoma Firefighters Pension and Retirement System v. Newell Brands Inc., et al., Docket No. HUD-L-3492-18. More information about why the Court is allowing this lawsuit to be a class action is in the Court’s Transcript of Class Certification Hearing, which is available here here.Back To Top
Why is this a class action?
A class action is a type of lawsuit in which one or several individuals or entities prosecute claims on behalf of all members of a group of similarly situated persons and entities (i.e., the class) to obtain monetary or other relief for the entire group. Class actions avoid the necessity of each member of a class having to file his, her, or its own separate lawsuit to obtain relief.Back To Top
What is this case about?
This case arises out of allegations that Defendants violated Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 (the “Securities Act”). Among other things, the Action alleges that the S-4 registration statement and prospectus (collectively, the “Registration Statement”) that was issued in connection with Newell’s April 2016 acquisition of and merger with Jarden (the “Acquisition”) contained untrue and misleading statements and failed to disclose material information concerning Newell’s core-sales growth and the personnel and resources involved in the integration of Jarden.Back To Top
How do I know if I am part of the Class? Are there exceptions to being included in the Class?
The Class, certified by the Court, consists of:
All persons or entities who acquired the common stock of Newell Brands Inc. pursuant  to the S-4 registration statement and prospectus (including all amendments thereto and all documents incorporated therein) issued in connection with Newell Brands Inc.’s April 2016 acquisition of and merger with Jarden Corporation.
There are some individuals and entities that are excluded from the Class by definition.
Excluded from the Class are:
- The Defendants and their family members;
- The officers, directors, and affiliates of Defendants and their immediate families;
- The legal representatives, heirs, successors, or assigns of any of the foregoing;
- Any entity in which any Defendant has or had a controlling interest;
Additionally, any person or entity that timely and validly requests exclusion, as explained in the Notice, will be excluded from the Class.
The Class definition is subject to change by Court order, pursuant to Rule 4:32-2 of the New Jersey Court Rules.
If you are still not sure whether you are included, you can call 1-800-680-0027 for more information.Back To Top
Has the Court decided who is right?
No. The claims have not decided and there has been no monetary recovery.
If a settlement of the lawsuit is reached, it will be subject to approval by the Court. Class Members will be sent additional notice of any proposed settlement, and members of the Class who have not excluded themselves may have an opportunity to do so at that time, in the Court’s discretion, and will have an opportunity to object to the proposed settlement and to submit a Proof of Claim form to demonstrate their entitlement to any payment. Similarly, the Court may also direct further notice to the Class following any judgment that may be entered after a trial of this case, or for any other reason that the Court may determine.Back To Top
Is there any money available now?
No. No money or any other benefits are available now, because the claims have not been decided and the Parties have not settled the case. There is no guarantee that money or any other benefit ever will be obtained. If there is a recovery, you will be notified about how to ask for your share.Back To Top
What happens if I am a Class Member and I do nothing?
If you are a Class Member and you do nothing, you will stay in the Class. This means you will be legally bound by all of the orders the Court issues and judgments the Court makes in this Action, whether favorable or unfavorable. If you stay in the Class and money is paid to the Class, either through a settlement with Defendants or a judgment of the Court after trial, you may be eligible to receive a share of that recovery. Keep in mind that if you do nothing now, regardless of whether Class Representatives win or lose the case, you will not be able to sue Defendants in any other lawsuit about the same claims that are the subject of this Action.
If you choose to remain a member of the Class, you do not have to do anything at this time other than retain your financial records reflecting all of your transactions (purchases, sales, and grants) in Newell common stock and any other documents relating to Newell. If there is a recovery in the future, members of the Class will be required to support their requests for payment by demonstrating their membership in the Class and documenting their receipt of Newell common stock pursuant to the Registration Statement and any losses on that stock. Neither the Class Representative, the Company, nor the Notice Administrator has information about all of your transactions in Newell common stock. Your broker may not keep your records for as long as you need. For these reasons, please be sure to keep all records of your transactions in Newell common stock and any other documents relating to Newell.Back To Top
If I am a Class Member, why would I ask to be excluded?
If you want to pursue your own lawsuit or claims against Defendants about the matters alleged in this case, do not want to be bound by what the Court does in this case, or if you simply do not want to be part of the Class pursuing claims against Defendants, you must ask to be excluded from the Class. If you exclude yourself from the Class—which means to remove yourself from the Class and is sometimes called “opting-out” of the Class—you will not be legally bound by any past, present, or future Court orders or judgments in this Action, and will keep any right you may have to individually sue Defendants in the future with respect to the claims made in this suit. However, if you exclude yourself, you also will not get any money or any other benefits from this lawsuit, if there are any.
If you start your own lawsuit against Defendants after you exclude yourself, you will have to hire and pay your own lawyer for that lawsuit, and you will have to prove your claims.
Please note: If you decide to exclude yourself from the Class, you should consult with an attorney and discuss whether your individual claim would be time-barred by the applicable statutes of limitations or repose.Back To Top
How do I “opt out” (exclude myself) from the Class?
If you wish to be excluded from the Class (“opt out”), you must submit a letter stating that you “request exclusion from the Class in Oklahoma Firefighters Pension and Retirement System v. Newell Brands Inc., et al., Docket No. HUD-L-3492-18 (N.J. Super. Ct. Law Div.).”
Your request for exclusion must also:
- state the name, address, and telephone number of the person or entity requesting exclusion;
- state the number of shares of Newell common stock that the person or entity requesting exclusion received or acquired pursuant to the Registration Statement; and
- be signed by the person or entity requesting exclusion or an authorized representative.
You must either mail your exclusion request or submit it here, so that it is received by no later than May 6, 2021 to:
Oklahoma Firefighters Pension and Retirement System v. Newell Brands Inc., et al.
P.O. Box 3328
You cannot exclude yourself from the Class by telephone or email, and a request for exclusion will not be effective unless it contains all the information called for by this paragraph and is postmarked or submitted by the date stated above, or is otherwise accepted by the Court.
Only request exclusion if you do not wish to participate in the Action and do not wish to share in any potential recovery that the Class may obtain.Back To Top
Do I have a lawyer in this case?
As a member of the Class, you will be represented by Class Counsel, who are:
Max R. Schwartz
SCOTT+SCOTT ATTORNEYS AT LAW LLP
The Helmsley Building
230 Park Avenue, 17th Floor
New York, NY 10169
Telephone: (212) 223-6444
Facsimile: (212) 223-6334
Unless you hire your own personal lawyer, as a Class Member you will not have any direct obligations to pay the costs of this lawsuit. In the event there is a recovery by the Class, all costs and expenses, including Class Counsel’s attorneys’ fees, will be paid from that recovery in an amount that is approved by the Court. If there is no recovery, Class Counsel will not receive any attorneys’ fees or expenses.Back To Top
What is the ticker symbol/CUSIP?
The CUSIP for Newell Common Stock during the April 2016 acquisition and merger was 651229106. The ticker symbol Newell Common Stock during the April 2016 acquisition and merger was NWL. The CUSIP for Jarden Common Stock before the April 2016 acquisition and merger was 471109108. The ticker symbol Jarden Common Stock before the April 2016 acquisition and merger was JAH.Back To Top