EarthLink $85 Million Windstream Merger Settlement

If you acquired Windstream common stock in exchange for EarthLink shares during the merger on February 27, 2017, you may be eligible to claim part of an $85 million class action settlement.

EarthLink Holdings Corp. has agreed to pay $85 million to settle a class action lawsuit for allegedly making misleading statements regarding Windstream's financial health and business prospects during their merger.

Who Are the Class Members?

• Individuals or entities who acquired Windstream common stock in exchange for EarthLink shares during the merger on February 27, 2017, and were financially harmed
• Those who held EarthLink shares as of January 23, 2017, and acquired Windstream stock as a result of the merger, suffering damages
• Individuals or entities who purchased or acquired Windstream common stock traceable to the Offering Documents and incurred losses

How Much Can Class Members Get?

The settlement fund of $85 million will be distributed among eligible class members. The estimated average recovery is $0.92 per affected share before deductions for fees and expenses. The actual amount received will depend on the total number of valid claims submitted.

• Tier 1: Those who acquired Windstream stock in exchange for EarthLink shares during the merger.
• Tier 2: Those who purchased Windstream stock traceable to the Offering Documents.

The award is subject to pro rata calculations, meaning each claimant's share of the settlement fund will be proportional to their recognized loss compared to the total recognized losses of all claimants.

What Documentation is Required to File a Claim?

Claimants must provide documentation to support their claims. This includes brokerage confirmation slips, monthly account statements, or authorized statements from brokers that detail the transactions and holdings.

How to Submit a Claim

To claim compensation, class members must complete and submit a Proof of Claim form. This can be done online or by mailing the form to the Claims Administrator. The form is available for download in PDF format.

EarthLink Merger Settlement Claims Administrator

c/o Gilardi, a Verita Global company

P.O. Box 301171

Los Angeles, CA 90030-1171

Claim Instructions

1. Obtain the Proof of Claim form from the settlement website
2. Complete the form with accurate information about your transactions
3. Attach required documentation to support your claim
4. Submit the form online or mail it to the Claims Administrator by the deadline

Payment Methods

Payments will be made after the Court approves the settlement, all appeals are resolved, and claims processing is complete.

$85 Million Settlement Fund Breakdown

The settlement fund of $85 million will cover:

• Payments to eligible class members
• Attorneys' fees, not exceeding 32% of the settlement amount
• Litigation expenses up to $950,000
• An award to the lead plaintiff, not exceeding $20,000

Important Dates

• Deadline to File a Claim: February 3, 2025
• Fairness Hearing: February 6, 2025

When is the EarthLink Merger Settlement Payout Date?

The Court will hold a Fairness Hearing on February 6, 2025, to decide whether to approve the settlement. If approved, payments will be distributed after all appeals are resolved, and claims processing is complete.

Why is There a Class Action Settlement?

The lawsuit alleged that EarthLink and Windstream made false and misleading statements about Windstream's financial health and business prospects to facilitate their merger. The settlement avoids the uncertainties and costs of continued litigation.