Arrow Financial Corporation Securities Settlement
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If you purchased or acquired securities of Arrow Financial Corporation between August 6, 2022, and May 12, 2023, you may be eligible to claim a portion of an $850,000 class action settlement.

Arrow Financial Corporation has agreed to settle a class action lawsuit alleging misrepresentations and omissions related to its disclosure controls and internal controls over financial reporting.

Who Can File a Claim?

To be considered a class member eligible for compensation, you must meet the following criteria:

  • Purchased or otherwise acquired Arrow securities between August 6, 2022, and May 12, 2023.
  • Suffered losses

How Much Can Class Members Get?

The settlement fund of $850,000 will be distributed among eligible class members. The estimated average recovery per allegedly damaged security is $0.35 before deductions for fees and expenses.

However, the actual amount received by each class member may vary based on several factors:

  • The number of claims filed.
  • The dates and prices of their transactions.
  • The total number of valid claims submitted.

The distribution will be based on a pro rata calculation, meaning each class member's share will be proportional to their recognized loss compared to the total recognized losses of all claimants.

Is Proof Required to Submit a Claim?

Yes, claimants need to provide proof of their transactions involving Arrow securities during the Settlement Class Period. This includes:

  • Stockbroker confirmation slips.
  • Statements or other documents evidencing each purchase and sale of Arrow securities.

How to Claim an Award

To claim an award, class members must complete and submit a Proof of Claim and Release Form. This can be done online through the online claim form or by mailing the form to the Claims Administrator at the following address:

Arrow Financial Corporation Securities Settlement

c/o Strategic Claims Services

P.O. Box 230

600 N. Jackson Street, Suite 205

Media, PA 19063

For online submissions, ensure all required documentation is uploaded. For mail submissions, ensure the form is postmarked by January 17, 2025.

Claim Instructions

Follow these steps to submit your claim:

  1. Gather all relevant transaction documents.
  2. Complete the Proof of Claim and Release Form.
  3. Submit the form online or by mail, ensuring all documentation is included.

Payment Methods

Class members will receive their compensation via check mailed to the address provided in their claim form.

Important Dates

  • Fairness Hearing: January 10, 2025
  • Deadline to File a Claim: January 17, 2025

When Is the Arrow Financial Corporation Payout Date?

Class members should submit their claims by the deadline. The court will hold a Fairness Hearing on January 10, 2025, to decide whether to approve the settlement. If approved, payments will be processed and distributed.

Why Is There a Class Action Settlement?

The class action lawsuit alleged that Arrow Financial Corporation and certain officers made false and misleading statements regarding the company's disclosure controls and internal controls over financial reporting. The settlement resolves these allegations without admitting any wrongdoing.

Settlement Open for Claims
Award:
$0.35 per share
Deadline:
January 17, 2025
SUBMIT CLAIM