Frequently Asked Questions
- Why did I get the Notice?
- What is this case about?
- How do I know if I am affected by the Settlement? Who is included in the Settlement Class?
- What are Lead Plaintiffs’ Reasons for the Settlement?
- What might happen if there were no Settlement?
- How are Settlement Class Members affected by the Action and the Settlement?
- How do I participate in the Settlement? What do I need to do?
- How much will my payment be?
- How will the lawyers be paid?
- What if I do not want to be a member of the Settlement Class? How do I exclude myself?
- When and where will the Court decide whether to approve the Settlement? Do I have to come to the hearing? May I speak at the hearing if I don’t like the Settlement?
- What if I bought shares on someone else’s behalf?
- Can I see the Court file? Whom should I contact if I have questions?
- What is the ticker symbol/CUSIP?
- When will I get my Initial Payment?
Why did I get the Notice?
The Court directed that the Notice be mailed to you because you, someone in your family, or an investment account for which you serve as a custodian may have purchased or otherwise acquired DaVita common stock during the Settlement Class Period. The Court has directed us to send you the Notice because, as a potential Settlement Class Member, you have a right to know about your options before the Court rules on the proposed Settlement. Additionally, you have the right to understand how this class action lawsuit may generally affect your legal rights. If the Court approves the Settlement, and the Plan of Allocation (or some other plan of allocation), the claims administrator selected by Lead Plaintiffs and approved by the Court will make payments pursuant to the Settlement after any objections and appeals are resolved.
The purpose of the Notice is to inform you of the existence of this case, that it is a class action, how you might be affected, and how to exclude yourself from the Settlement Class if you wish to do so. It is also being sent to inform you of the terms of the proposed Settlement, and of a hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement, the proposed Plan of Allocation, and the Motion by Lead Counsel for an award of attorneys’ fees and reimbursement of Litigation Expenses (the “Settlement Hearing”). Additional details about the Settlement Hearing, including the date and location of the hearing are located in FAQ 11.
The issuance of the Notice is not an expression of any opinion by the Court concerning the merits of any claim in the Action, and the Court still has to decide whether to approve the Settlement. If the Court approves the Settlement and a plan of allocation, then payments to Authorized Claimants will be made after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process can take some time to complete.Back To Top
What is this case about?
The original securities class action complaint in the Action was filed in this District by Georgia Peace Officers on February 1, 2017, alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
On November 6, 2017, the Court appointed Georgia Peace Officers and Jacksonville P&F as Lead Plaintiffs pursuant to the requirements of the Private Securities Litigation Reform Act of 1995 and approved Lead Plaintiffs’ selection of Lead Counsel and Liaison Counsel.
On January 12, 2018, Lead Plaintiffs filed their Amended Class Action Complaint for Violations of the Federal Securities Laws and Jury Trial Demand (“Amended Complaint” or “Complaint”). The Amended Complaint alleges, among other things, that throughout the Settlement Class Period, Defendants made materially false and misleading statements and omissions regarding DaVita’s alleged scheme to “steer” all patients eligible for and/or enrolled in Medicare and/or Medicaid away from government insurance and into high-cost commercial insurance plans in order for DaVita to obtain dialysis reimbursement rates that were up to ten times higher than the rates that government plans paid for the same dialysis treatments. The Amended Complaint alleges that this scheme was facilitated though DaVita’s relationship with the AKF to which DaVita purportedly “donated” over $100 million in annual charitable contributions, which the AKF would in turn use to pay the commercial insurance premiums for the patients Plaintiffs allege Defendants had steered. The Amended Complaint alleges that DaVita’s stock price was artificially inflated during the Class Period as a result of Defendants’ alleged materially false and misleading statements and omissions, and that DaVita’s stock price declined substantially when the truth regarding Defendants’ alleged misrepresentations was revealed.
On March 27, 2018, Defendants filed their motion to dismiss the Complaint. Lead Plaintiffs filed their opposition on June 6, 2018, and on July 20, 2018, Defendants filed their reply. On August 1, 2018, Lead Plaintiffs filed a motion for leave to file a sur-reply, which was subsequently granted by the Court. On March 28, 2019, the Court entered an Order denying Defendants’ motion to dismiss in its entirety. ECF No. 53.
Defendants filed their Answer to the Amended Complaint on May 28, 2019. On June 26, 2019, the Court entered a Scheduling Order setting pre-trial deadlines. On September 25, 2019, the Parties held their first mediation session before the Honorable Layn R. Phillips (Ret.). In advance of this mediation session, the Parties submitted substantial materials in support of their respective positions. After exchanging their respective positions on the Action during the mediation session, the mediation concluded without a resolution of the Action.
Following the Court’s Order denying Defendants’ motion to dismiss, the Parties commenced discovery, propounding document requests. Lead Plaintiffs sought discovery from DaVita, each of the Individual Defendants, the AKF, and over twenty other third parties, including DaVita’s primary dialysis competitor, Fresenius, multiple private insurance companies and multiple kidney transplant facilities. Defendants sought discovery from Lead Plaintiffs, and Lead Plaintiffs’ expert on market efficiency. Defendants produced on behalf of themselves and their class certification expert, and Lead Plaintiffs reviewed, approximately 761,000 pages of documents in approximately twenty-two separate productions over the course of nearly a full year. Ultimately, the AKF produced, and Lead Plaintiffs reviewed, approximately 75,000 pages of documents. Collectively other third parties produced, and Lead Plaintiffs reviewed, approximately 3,700 pages of documents. Additionally, Lead Plaintiffs produced to Defendants approximately 24,000 pages of documents on behalf of themselves and their market efficiency expert. Coordinating and conducting discovery in this Action required a monumental effort in a limited amount of time.
While discovery was underway, on January 31, 2020, Lead Plaintiffs filed their Motion for Class Certification, Appointment of Class Representatives and Appointment of Class and Liaison Counsel. In connection with their motion, Lead Plaintiffs submitted the expert report of Chad Coffman, CFA (ECF No. 83-1), as evidence of market efficiency. In connection with Plaintiffs’ motion for class certification, the Parties took and defended the depositions of Georgia Peace Officers and Jacksonville P&F on May 12, 2020 and May 21, 2020, respectively. The Parties took and defended Mr. Coffman’s deposition on May 27, 2020. On June 29, 2020, Defendants filed their opposition to Plaintiffs’ motion and submitted the expert report of Dr. Vinita Juneja. ECF Nos. 102, 102-1. On July 16, 2020, the Parties took and defended Dr. Juneja’s deposition.
On February 24, 2020, Defendants filed a Motion for Partial Reconsideration of the Court’s Order Denying the Motion to Dismiss and amended this motion on February 27, 2020. ECF Nos. 90, 91. In that motion, Defendants argued that the Court should have dismissed 22 out of 27 of the Complaint’s alleged false statements that were based on the claimed illegality of DaVita’s steering scheme. Defendants argued that dismissal on this basis was appropriate because the Department of Justice (“DOJ”) had closed its investigation of DaVita’s misconduct alleged in the Complaint and determined that it would not intervene in a related whistleblower action that was ultimately withdrawn by the claimant. Lead Plaintiffs’ Opposition to Defendants’ Amended Motion for Partial Reconsideration was filed on April 10, 2020. ECF No. 100. Defendants filed their Reply on May 1, 2020. ECF No. 100.
On June 8 and 9, 2020, the Parties and Defendants’ directors’ and officers’ liability insurance carriers (the “D&O Insurers”) participated in two mediation sessions with Judge Phillips. Prior to the mediation sessions, each side submitted comprehensive mediation statements and additional materials setting forth their respective positions on various highly disputed legal and factual issues, which included detailed information obtained through the extensive discovery process. During the mediation sessions, the Parties provided detailed presentations concerning their respective views on liability, loss causation and damages. The Parties attended an additional mediation session on Saturday, June 13, 2020. At the conclusion of this fourth mediation session, the Parties still had not reached an agreement.
Thereafter, the Parties continued to vigorously litigate the Action. The Parties exchanged privilege logs on June 19, 2020, negotiated the scheduling of an additional ten depositions to take place in August and September 2020, and diligently prepared to take and defend five out of the six depositions Plaintiffs had formally noticed on May 22, 2020. The Parties engaged in extensive, fact-intensive preparatory efforts in anticipation of taking and defending the depositions, and continued class certification-related litigation activities.
The Parties re-engaged in settlement discussions with a fifth mediation session on July 16, 2020. While the Parties did not reach agreement on a resolution of the Action during this session, the Parties agreed to continue settlement discussions. To that end, the Parties engaged in a sixth mediation session on Sunday, July 19, 2020. The Parties made additional presentations concerning their respective views of the Action. The following day, on July 20, 2020, Judge Phillips issued a mediator’s proposal to resolve the Action for $135 million and the negotiation of customary terms and conditions. The Parties accepted the mediator’s proposal on the evening of July 20, 2020.
Based on their investigation, discovery, prosecution and mediation of the case, Lead Plaintiffs and Lead Counsel have concluded that the terms and conditions of the Stipulation are fair, reasonable and adequate to Lead Plaintiffs and the other members of the Settlement Class, and in their best interests. Based on Lead Plaintiffs’ oversight of the prosecution of this matter and with the advice of its counsel, Lead Plaintiffs have agreed to settle and release the claims raised in the Action pursuant to the terms and provisions of the Stipulation, after considering, among other things, (a) the substantial financial benefit that Lead Plaintiffs and the other members of the Settlement Class will receive under the proposed Settlement; (b) the significant risks and costs of continued litigation and trial; and (c) the desirability of permitting the proposed Settlement to be consummated as provided by the terms of the Stipulation.
The Stipulation and the Settlement constitute a compromise of matters that are in dispute among the Parties. Defendants have entered into the Stipulation solely to eliminate the uncertainty, distraction, time, burden and expense of further protracted litigation. Each of the Defendants has denied and continues to deny any wrongdoing, and the Settlement and Stipulation shall in no event be construed or deemed to be evidence of or an admission or concession on the part of any of the Defendants with respect to any claim or allegation of any fault, liability, wrongdoing, or damage whatsoever, or any infirmity in the defenses that the Defendants have, or could have, asserted. Defendants expressly deny that Lead Plaintiffs have asserted any valid claims as to any of them, and expressly deny any and all allegations of fault, liability, wrongdoing, or damages whatsoever. The Stipulation and the Settlement also shall in no event be construed or deemed to be evidence of or an admission or concession on the part of any Lead Plaintiff of an infirmity in any of the claims asserted in the Action, or an admission or concession that any of the Defendants’ defenses to liability had any merit.
On October 27, 2020, the Court preliminarily approved the Settlement, authorized this Notice to be disseminated to potential Settlement Class Members, and scheduled the Settlement Hearing to consider, among other things, whether to grant final approval to the Settlement.Back To Top
How do I know if I am affected by the Settlement? Who is included in the Settlement Class?
If you are a member of the Settlement Class, you are subject to the Settlement, unless you timely request to be excluded. The Settlement Class consists of:
All persons and entities who purchased or otherwise acquired DaVita common stock during the period between February 26, 2015, and October 6, 2017, inclusive, and were damaged thereby.
Excluded from the Settlement Class are Defendants, the Officers and directors of DaVita at all relevant times, and all such excluded persons’ Immediate Family members, legal representatives, heirs, agents, affiliates, predecessors, successors and assigns, and any entity in which any excluded person has or had a controlling interest. Also excluded from the Settlement Class are those persons who file valid and timely requests for exclusion in accordance with the Preliminary Approval Order. Information on how to exclude yourself is included on this website.
PLEASE NOTE: RECEIPT OF THE NOTICE DOES NOT MEAN THAT YOU ARE A SETTLEMENT CLASS MEMBER OR THAT YOU WILL BE ENTITLED TO RECEIVE PROCEEDS FROM THE SETTLEMENT. IF YOU ARE A SETTLEMENT CLASS MEMBER AND YOU WISH TO BE POTENTIALLY ELIGIBLE TO PARTICIPATE IN THE DISTRIBUTION OF PROCEEDS FROM THE SETTLEMENT, YOU ARE REQUIRED TO SUBMIT A CLAIM FORM AND THE REQUIRED SUPPORTING DOCUMENTATION POSTMARKED NO LATER THAN MARCH 20, 2021.Back To Top
What are Lead Plaintiffs’ Reasons for the Settlement?
Lead Plaintiffs and Lead Counsel believe that the claims asserted against Defendants have merit. They recognize, however, the expense and length of continued proceedings necessary to pursue their claims against Defendants through further motion practice, trial, and appeals, as well as the very substantial risks they would face in establishing liability and damages. Lead Plaintiffs and Lead Counsel recognized that Defendants had numerous avenues of attack that could preclude a recovery. For example, among other things, Defendants would assert that the statements were not materially false and misleading, and that even if they were, they were not made with the requisite state of mind to support the securities fraud claim alleged. Even if the hurdles to establishing liability were overcome, the amount of damages that could be attributed to the allegedly false statements would be hotly contested. Lead Plaintiffs would have to prevail at several stages—including, without limitation, Defendants’ Motion for Partial Reconsideration, class certification, summary judgment, trial, and if they prevailed on those, on the appeals that were likely to follow. Thus, there were very significant risks attendant to the continued prosecution of the Action.
In light of these risks, the amount of the Settlement, and the immediacy of recovery to the Settlement Class, Lead Plaintiffs and Lead Counsel believe that the proposed Settlement is fair, reasonable, adequate, and in the best interests of the Settlement Class. Lead Plaintiffs and Lead Counsel believe that the Settlement provides a substantial benefit to the Settlement Class, namely $135,000,000.00 in cash (less the various deductions described in the Notice), as compared to the risk that the claims in the Action would produce a smaller, or no, recovery after resolution of Defendants’ Motion for Partial Reconsideration, class certification, summary judgment, trial and appeals, possibly years in the future.
Defendants have denied and continue to expressly deny each and all of the claims and contentions asserted against them in the Action and deny having engaged in any wrongdoing or violation of law of any kind whatsoever. Defendants have asserted and continue to assert that their conduct was at all times proper and in compliance with all applicable provisions of law, and believe that the evidence developed to date supports their position that they acted properly at all times and that the Action is without merit. In addition, Defendants maintain that they have meritorious defenses to all claims alleged in the Action. Defendants have agreed to the Settlement solely to eliminate the burden and expense of continued litigation. Accordingly, as noted above, the Settlement may not be construed as an admission of any wrongdoing by Defendants.Back To Top
What might happen if there were no Settlement?
If there were no Settlement and Lead Plaintiffs failed to establish any essential legal or factual element of their claims against Defendants, neither Lead Plaintiffs nor the other members of the Settlement Class would recover anything from Defendants. Also, if Defendants were successful in proving any of their defenses, either on reconsideration, at class certification, at summary judgment, at trial or on appeal, the Settlement Class could recover substantially less than the amount provided in the Settlement, or nothing at all.Back To Top
How are Settlement Class Members affected by the Action and the Settlement?
As a Settlement Class Member, you are represented by Lead Plaintiffs and Lead Counsel, unless you enter an appearance through counsel of your own choice at your own expense. You are not required to retain your own counsel, but if you choose to do so, such counsel must file a notice of appearance on your behalf and must serve copies of his or her appearance on the attorneys listed in FAQ 11.
If you are a Settlement Class Member and do not wish to remain a Settlement Class Member, you may exclude yourself from the Settlement Class by following the instructions in FAQ 10.
If you are a Settlement Class Member and you wish to object to the Settlement, the Plan of Allocation, or Lead Counsel’s application for attorneys’ fees and reimbursement of Litigation Expenses, and if you do not exclude yourself from the Settlement Class, you may present your objections by following the instructions in FAQ 11.
If you are a Settlement Class Member and you do not exclude yourself from the Settlement Class, you will be bound by any orders issued by the Court. If the Settlement is approved, the Court will enter a judgment (the “Judgment”). The Judgment will dismiss with prejudice the claims against the Defendant Releasees (as defined in the Notice) and will provide that, upon the Effective Date of the Settlement, Lead Plaintiffs and each of the other Settlement Class Members, on behalf of themselves, and each of their respective current and former heirs, executors, administrators, predecessors, successors, officers, directors, agents, parents, affiliates, subsidiaries, employees, attorneys, assignees, and assigns, in their capacities as such, shall be deemed to have, and by operation of the Stipulation, of law, and of the Judgment shall have, fully, finally, and forever compromised, settled, released, resolved, relinquished, waived, and discharged each and every Released Plaintiffs’ Claim (including Unknown Claims) against the Defendants and the other Defendant Releasees, and shall forever be barred and enjoined from commencing, instituting, prosecuting, or continuing to prosecute any action or other proceeding in any court of law or equity, arbitration tribunal, or administration forum asserting any or all of the Released Plaintiffs’ Claims (as defined in the Notice).Back To Top
How do I participate in the Settlement? What do I need to do?
To be potentially eligible for a payment from the proceeds of the Settlement, you must be a member of the Settlement Class and you must timely complete and return the Claim Form with adequate supporting documentation postmarked no later than March 20, 2021. A Claim Form is included in the mailed packet with the Notice, or you may obtain one here, or you may request that a Claim Form be mailed to you by calling the Claims Administrator toll free at 1-888-490-0619. Please retain all records of your ownership of and transactions in DaVita common stock, as they may be needed to document your Claim. If you request exclusion from the Settlement Class or do not submit a timely and valid Claim Form, you will not be eligible to share in the Net Settlement Fund.Back To Top
How much will my payment be?
At this time, it is not possible to make any determination as to how much any individual Settlement Class Member may receive from the Settlement.
Pursuant to the Settlement, Defendants shall pay or cause the D&O Insurers to pay $135 million dollars ($135,000,000.00) in cash. The Settlement Amount will be deposited into an escrow account. The Settlement Amount plus any and all interest earned thereon is referred to as the “Settlement Fund.” If the Settlement is approved by the Court and the Effective Date occurs, the “Net Settlement Fund” (that is, the Settlement Fund less (a) all federal, state, or local taxes on any income earned by the Settlement Fund and the reasonable costs incurred in connection with determining the amount of and paying taxes owed by the Settlement Fund (including reasonable expenses of tax attorneys and accountants); (b) the costs and expenses incurred in connection with providing notice to Settlement Class Members and administering the Settlement on behalf of Settlement Class Members; and (c) any attorneys’ fees and Litigation Expenses awarded by the Court) will be distributed to Settlement Class Members who submit valid Claim Forms, in accordance with the proposed Plan of Allocation or such other plan of allocation as the Court may approve. The proposed Plan of Allocation is located in the Notice.
The Net Settlement Fund will not be distributed unless and until the Court has approved the Settlement and a plan of allocation, and the time for any petition for rehearing, appeal, or review, whether by certiorari or otherwise, has expired.
Only Settlement Class Members, i.e., persons and entities who purchased or otherwise acquired DaVita common stock during the Settlement Class Period and were damaged as a result of such purchases or acquisitions, will be potentially eligible to share in the distribution of the Net Settlement Fund. Persons and entities that are excluded from the Settlement Class by definition or that exclude themselves from the Settlement Class pursuant to request will not be eligible to receive a distribution from the Net Settlement Fund and should not submit Claim Forms. The only security that is included in the Settlement is DaVita common stock. The proposed plan of allocation is included in the Notice.Back To Top
How will the lawyers be paid?
Plaintiffs’ Counsel have not received any payment for their services in pursuing claims against the Defendants on behalf of the Settlement Class, nor have Plaintiffs’ Counsel been reimbursed for their out-of-pocket expenses. Before final approval of the Settlement, Lead Counsel will apply to the Court for an award of attorneys’ fees for all Plaintiffs’ Counsel in an amount not to exceed thirty percent (30%) of the Settlement Fund. At the same time, Lead Counsel also intends to apply for reimbursement of Litigation Expenses in an amount not to exceed $750,000, which may include an application for reimbursement of the reasonable costs and expenses incurred by Lead Plaintiffs directly related to their representation of the Settlement Class. The Court will determine the amount of any award of attorneys’ fees or reimbursement of Litigation Expenses. Such sums as may be approved by the Court will be paid from the Settlement Fund. Settlement Class Members are not personally liable for any such fees or expenses.Back To Top
What if I do not want to be a member of the Settlement Class? How do I exclude myself?
Each Settlement Class Member will be bound by all determinations and judgments in this lawsuit, whether favorable or unfavorable, unless such person or entity mails or delivers a written request for exclusion from the Settlement Class, addressed to DaVita Securities Litigation, EXCLUSIONS, P.O. Box 6659, Portland, OR 97228-6659. The exclusion request must be received no later than February 16, 2021. You will not be able to exclude yourself from the Settlement Class after that date. Each request for exclusion must (a) state the name, address, and telephone number of the person or entity requesting exclusion, and in the case of entities, the name and telephone number of the appropriate contact person; (b) state that such person or entity “requests exclusion from the Settlement Class in Peace Officers’ Annuity and Benefit Fund of Georgia et al. v. DaVita Inc. et al., 1:17-cv-00304-WJM-NRN (D. Colo.)”; (c) state the number of DaVita common stock shares that the person or entity requesting exclusion purchased/acquired and sold during the Settlement Class Period, as well as the dates and prices of each such purchase/acquisition and sale, and the number of shares held at the beginning of the Settlement Class Period; and (d) be signed by the person or entity requesting exclusion or an authorized representative. A request for exclusion shall not be effective unless it provides all the information called for in this paragraph and is received within the time stated above, or is otherwise accepted by the Court.
If you do not want to be part of the Settlement Class, you must follow these instructions for exclusion even if you have pending, or later file, another lawsuit, arbitration, or other proceeding relating to any Released Plaintiffs’ Claim against any of the Defendant Releasees.
If you ask to be excluded from the Settlement Class, you will not be eligible to receive any payment out of the Net Settlement Fund.Back To Top
When and where will the Court decide whether to approve the Settlement? Do I have to come to the hearing? May I speak at the hearing if I don’t like the Settlement?
Settlement Class Members do not need to attend the Settlement Hearing. The Court will consider any submission made in accordance with the provisions below even if a Settlement Class Member does not attend the hearing. You can participate in the Settlement without attending the Settlement Hearing.
The Settlement Hearing will be held on March 30, 2021, at 10:00 a.m., before the Honorable William J. Martinez at the United States District Court for the District of Colorado, Alfred A. Arraj United States Courthouse A841/Courtroom A801, 901 19th Street, Denver, CO 80294. The Court reserves the right to approve the Settlement, the Plan of Allocation, Lead Counsel’s Motion for an award of attorneys’ fees and reimbursement of Litigation Expenses, and/or any other matter related to the Settlement at or after the Settlement Hearing with such modification(s) as may be consented to by the Parties to the Stipulation and without further notice to the members of the Settlement Class.
Any Settlement Class Member who or which does not request exclusion may object to the Settlement, the proposed Plan of Allocation or Lead Counsel’s Motion for an award of attorneys’ fees and reimbursement of Litigation Expenses. Objections must be in writing. You must file any written objection, together with copies of all other papers and briefs supporting the objection, with the Clerk’s Office at the United States District Court for the District of Colorado at the address set forth below on or before February 16, 2021. You must also serve the papers on Lead Counsel and on Defendants’ Counsel at the addresses set forth below so that the papers are postmarked no later than February 16, 2021.
Clerk’s Office Lead Counsel Defendants’ Counsel Alfred A. Arraj
901 19th Street
Denver, CO 80294
Saxena White P.A.
Lester R. Hooker, Esq.
7777 Glades Road
Boca Raton, FL 33434
Morgan, Lewis & Bockius LLP
Michael D. Blanchard
One State Street
Hartford, CT 06103-3178
Any objection (a) must state the name, address, and telephone number of the person or entity objecting and must be signed by the objector; (b) must contain a statement of the Settlement Class Member’s objection or objections, and the specific reasons for each objection, including any legal and evidentiary support the Settlement Class Member wishes to bring to the Court’s attention; and (c) must include documents sufficient to prove membership in the Settlement Class, including the number of shares of DaVita common stock that the objecting Settlement Class Member purchased/acquired and sold during the Settlement Class Period, as well as the dates and prices of each such purchase/acquisition and sale, and the number of shares held at the beginning of the Settlement Class Period. You may not object to the Settlement, the Plan of Allocation, or Lead Counsel’s Motion for attorneys’ fees and reimbursement of Litigation Expenses if you exclude yourself from the Settlement Class or if you are not a member of the Settlement Class.
You may file a written objection without having to appear at the Settlement Hearing. You may not, however, appear at the Settlement Hearing to present your objection unless you first file and serve a written objection in accordance with the procedures described above, unless the Court orders otherwise.
If you wish to be heard orally at the hearing in opposition to the approval of the Settlement, the Plan of Allocation, or Lead Counsel’s Motion for an award of attorneys’ fees and reimbursement of Litigation Expenses, and if you timely file and serve a written objection as described above, you must also file a notice of appearance with the Clerk’s Office and serve it on Lead Counsel and Defendants’ Counsel at the addresses set forth above so that it is postmarked no later than February 16, 2021. Persons who intend to object and desire to present evidence at the Settlement Hearing must include in their written objection or notice of appearance the identity of any witnesses they may call to testify and exhibits they intend to introduce into evidence at the hearing. Such persons may be heard orally at the discretion of the Court.
You are not required to hire an attorney to represent you in making written objections or in appearing at the Settlement Hearing. However, if you decide to hire an attorney, it will be at your own expense, and that attorney must file a notice of appearance with the Court and serve it on Lead Counsel and Defendants’ Counsel at the addresses set forth in the Notice so that the notice is postmarked no later than February 16, 2021.Back To Top
What if I bought shares on someone else’s behalf?
If you purchased or otherwise acquired DaVita common stock during the Settlement Class Period for the beneficial interest of persons or organizations other than yourself, you must either (a) within ten (10) business days of receipt of the Notice, request from the Claims Administrator sufficient copies of the Notice and Claim Form (the “Notice Packet”) to forward to all such beneficial owners, and within ten (10) business days of receipt of those Notice Packets forward them to all such beneficial owners; or (b) within ten (10) business days of receipt of the Notice, provide a list of the names and addresses of all such beneficial owners to DaVita Securities Litigation, P.O. Box 6659, Portland, OR 97228-6659. If you choose the second option, the Claims Administrator will send a copy of the Notice and the Claim Form to the beneficial owners. Upon full compliance with these directions, such nominees may obtain reimbursement of their reasonable expenses incurred, by providing the Claims Administrator with proper documentation supporting the expenses for which reimbursement is sought. Copies of the Notice and the Claim Form may also be obtained here, or by calling the Claims Administrator toll-free at 888-490-0619.Back To Top
Can I see the Court file? Whom should I contact if I have questions?
The Notice contains only a summary of the terms of the proposed Settlement. For more detailed information about the matters involved in this Action, you are referred to the papers on file in the Action, including the Stipulation, which are available by accessing the Court docket in this case, for a fee, through the Court’s Public Access to Court Electronic Records (PACER) system at https://ecf.cod.uscourts.gov, or by visiting the Office of the Clerk, United States District Court for the District of Colorado, Alfred A. Arraj United States Courthouse, 901 19th Street, Room A105, Denver, CO 80294, which may be inspected during regular office hours. Additionally, copies of the Stipulation and any related orders entered by the Court will be posted here.
Inquiries, other than requests for the Notice and Claim Form, should be made directed to:
Lead Counsel Claims Administrator SAXENA WHITE P.A.
Lester R. Hooker, Esq.
7777 Glades Rd., Suite 300
Boca Raton, FL 33434
DaVita Securities Litigation
P.O. Box 6659
Portland, OR 97228-6659
DO NOT CALL OR WRITE THE COURT, THE OFFICE OF THE CLERK OF THE COURT, DEFENDANTS, OR THEIR COUNSEL REGARDING THE NOTICE.Back To Top
What is the ticker symbol/CUSIP?
The CUSIP for the Class Period is 23918K108. The ticker symbol from February 26, 2015 through October 6, 2017 was DVA.Back To Top
When will I get my Initial Payment?
The Initial Payment occurred on June 2, 2022.Back To Top