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If you owned Weber, Inc. Class A common stock at any point from December 11, 2022, through February 21, 2023, you may be qualify to receive a cash benefit from a class action settlement.
Weber, Inc. has agreed to pay $19,250,000 to settle a class action lawsuit that alleged breaches of fiduciary duty by its controlling stockholder, BDT Capital Partners, LLC, and certain directors. The lawsuit was filed over BDT’s acquisition of all outstanding Weber Class A common stock for $8.05 per share, claiming the transaction unfairly benefited BDT at the expense of minority shareholders.
Who is eligible for a Weber stockholder payout?
Class members must meet the following criteria:
- You were a record holder or beneficial owner of Weber Class A common stock during the qualifying period.
- You received, or were entitled to receive, the $8.05 per share cash consideration in the merger.
- You are a successor or assign of someone who held shares during the relevant period.
How much is the class action settlement payment?
Pro Rata Cash Payment: Payment amount will be determined by the number of qualifying shares each class member held at the time of the merger.
No claim form required
Class members do not need to submit a claim form to receive a settlement payment. The settlement administrator has been given access to records from the Depository Trust Company (DTC) and Weber, Inc..
Payout options
- Class members with shares held through a brokerage or bank, your payment will be sent through your intermediary.
- Class members that held shares directly will receive a paper check mailed to the address provided.
$19.25 Million Weber Inc class action settlement fund
The settlement fund of $19,250,000 includes the following payments:
- Settlement administration costs: To be determined
- Attorneys' fees: Up to $4,812,500
- Attorneys' litigation expenses: To be presented to the court for approval
- Payments to class members: Remaining settlement funds
Important dates
- Fairness Hearing: June 30, 2025
- Deadline to File a Claim: N/A, No claim form required
- Exclusion Deadline: N/A, There is no opt-out option
When is the Weber Inc. stockholder settlement payout date?
Payments will be issued to class members after the court grants final approval of the settlement and any appeals are resolved.
Why was there a class action settlement?
The class action lawsuit alleged that BDT Capital Partners, LLC, as Weber’s controlling stockholder, and certain directors breached their fiduciary duties to minority shareholders by structuring, negotiating, and approving the merger in a manner that unfairly benefited BDT. Plaintiffs claimed that the transaction was not entirely fair and that disclosures to shareholders were inadequate.
Defendants denied all allegations of wrongdoing but agreed to a settlement in order to avoid the expense of continuing litigation and the possibility of a trial.
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