Waste Management is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) the U.S. Department of Justice had indicated to Waste Management that it would require Waste Management to divest significantly more assets than the $200 million indicated in the merger agreement between the Company and Advanced Disposal Services; (ii) as a result, the merger would not be completed by July 14, 2020, the end date under the merger agreement; and (iii) the Waste Management redeemable senior notes would be subject to mandatory redemption at 101% of par.
If you incurred a loss on WM redeemable senior notes purchased between February 13, 2020 and June 23, 2020, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Southern District of New York, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until August 8, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.