Sun Communities $2.3M Securities Class Action Settlement

William C. Gendron

Editor in Chief

Published

May 21, 2026 10:52 AM

Updated

May 21, 2026

Who can file a claim?

The settlement includes all persons and entities who purchased publicly traded Sun Communities Inc. common stock between Feb. 28, 2019, and Sept. 24, 2024, inclusive, and suffered damages as a result.

Additional details

Both individuals and entities can be class members.
Each separate legal entity or separately managed account must submit a separate claim.
Authorized representatives may submit claims on behalf of beneficial owners subject to the requirements of the claim form.
Executors, administrators, trustees and other representatives may submit claims on behalf of others and must provide proof of authority.
Joint claimants must each sign the claim form.

How much can class members get?

The total settlement fund is $2,300,000. The amount each class member will receive depends on several factors:

The number of valid claims submitted
The number of shares purchased during the class period
The timing of each investor purchase, sale and holding
The total recognized losses of all claimants

The settlement administrator will distribute payments on a pro rata basis according to the court-approved plan of allocation:

The estimated average distribution per allegedly damaged share is approximately $0.057 before deductions for taxes, notice and administration costs, and attorneys' fees and expenses. After estimated deductions, the average net recovery is approximately $0.036 per share.
Actual payments may be higher or lower depending on individual claims and the total number of valid claims.
The settlement administrator will calculate each class member's payment based on the recognized loss amount assigned to each transaction.
Recognized loss amounts depend on purchase and sale timing. The settlement administrator will calculate them using the court-approved plan of allocation.
The settlement administrator will apply different formulas (pages 5-7 of the class notice) depending on when class members sold or held their shares.

For shares sold on or before Sept. 24, 2024, the recognized loss is $0 per share.
For shares sold on Sept. 25, 2024, the recognized loss is the lesser of $0.93 per share or the difference between the purchase price and the sale price.
For shares sold between Sept. 26, 2024, and Dec. 24, 2024, inclusive, the recognized loss is the lesser of $1.18 per share or the difference between the purchase price and the average closing price as of the date of sale.
For shares held as of the close of trading on Dec. 24, 2024, the recognized loss is the lesser of $1.18 per share or the difference between the purchase price and $128.66, the average closing price over the 90 days following the end of the class period.

If a claimant had a trading gain or broke even on overall transactions in Sun common stock during the class period, the recognized loss is $0 and the claimant will not receive a payment.
If total recognized losses exceed the net settlement fund, the settlement administrator will reduce payments on a pro rata basis.
Class members whose payment would be less than $10 will not receive a payout.

How to claim a Sun Communities securities class action settlement payment

Class members may file a claim online or download, print and complete the PDF claim form (pages 12-18 of the class notice) and mail it to the settlement administrator. The claim deadline is July 1, 2026.

Settlement administrator’s mailing address: Sun Communities Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Suite 205, Media, PA 19063

Proof or documentation required to submit a claim

All class members must provide their full Social Security number or taxpayer identification number. They must also provide purchase, sale and holding information, including:

Number of shares held as of the close of trading on Feb. 27, 2019
Trade dates for purchases and sales from Feb. 28, 2019, through Dec. 24, 2024
Number of shares purchased or sold
Total purchase or sale price
Number of shares held as of the close of trading on Dec. 24, 2024

Class members must provide documentation to support their transactions in Sun Communities common stock. Acceptable proof includes:

Broker confirmation slips
Broker account statements
Authorized statements from a broker, financial advisor or financial institution containing the transactional information found in a confirmation slip

Payout options

Physical check

$2.3 million settlement fund

The $2,300,000 settlement fund includes:

Settlement administration costs: To be determined
Attorneys' fees: Up to $766,667.67
Attorneys' expenses: Up to $55,000
Service awards to plaintiffs: Up to $6,000 total
Payments to eligible class members: Remainder of the fund

Important dates

Deadline to file a claim: July 1, 2026
Opt-out deadline: July 1, 2026
Fairness hearing: July 29, 2026

When is the Sun Communities class action settlement payout date?

The settlement administrator will issue payments after it completes processing and the court resolves any appeals and grants final approval to the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged Sun Communities and certain executives made false and misleading statements regarding undisclosed relationships and transactions between Sun's CEO and certain directors contrary to statements that those directors were independent. The plaintiffs claimed these statements artificially inflated the price of Sun's common stock and caused investor losses when corrective information entered the market.

Sun Communities denied all allegations of wrongdoing but agreed to settle to avoid the costs, risks and delays of continued litigation.