Synchrony Financial Securities Litigation

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 Action and Proposed Settlement; (II) Settlement Hearing; (III) Motion for Attorneys’ Fees and Litigation Expenses (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.

The Court-appointed Lead Plaintiff Stichting Depositary APG Developed Markets Equity Pool (“Lead Plaintiff”) and Plaintiff Stichting Depositary APG Fixed Income Credits Pool (collectively with Lead Plaintiff, “Plaintiffs”), on behalf of themselves and the Class, have settled the Action for $34,000,000 in cash ("Settlement"). The Settlement resolves all claims in the Action.

On July 31, 2023, the Court held a hearing to consider final approval of the Settlement and other matters. The Court entered an order approving the Settlement and Plan of Allocation and Lead Counsel’s motion for attorney's fees and litigation expenses on August 4, 2023, and a final Judgment on August 7, 2023.

The Class consists of:

all persons and entities who purchased or otherwise acquired the common stock of Synchrony Financial from January 19, 2018, through July 12, 2018, inclusive (the “Class Period”), and who were damaged thereby, except for certain persons and entities who are excluded from the Class by definition (see paragraph 31 of the Notice).

The claims administration concluded in June 2024. On June 24, 2024, Lead Counsel filed a Motion for Approval of Distribution Plan seeking the Court’s approval to distribute the net settlement fund. The Court approved the distribution of the net settlement fund on June 25, 2024. The initial distribution of funds occurred on August 2, 2024. Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available.