JC Penney Securities Litigation

Welcome to the JCPenney Securities Litigation Website

This website has been established to provide general information related to the proposed settlement ("Settlement") of the action captioned Alan B. Marcus v. J.C. Penney Company, Inc., et al., Civil Action No. 6:13-cv-00736-RWS-KNM (the "Action"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Settlement Agreement dated June 14, 2017 (the “Settlement Agreement”), which can be found and downloaded by clicking on the Case Documents tab above.

The Settlement Hearing set for 11/29/2017 at 10:00 a.m. has been re-scheduled to 12/5/2017 at 10:00 a.m. before Magistrate Judge K. Nicole Mitchell.

This Action is currently pending before the Honorable Robert W. Schroeder III, in the United States District Court for the Eastern District of Texas, Tyler Division (the “Court”). The entity that leads the Action, National Shopmen Pension Fund ("NSPF"), is called the Lead Plaintiff and the entities being sued are J.C. Penney Company, Inc. ("JCPenney"), Myron E. Ullman, III, and Kenneth H. Hannah (collectively, "Defendants"). The Court appointed the law firm of Robbins Geller Rudman & Dowd LLP to represent Class Members. These lawyers are called Lead Counsel.

This Action alleges that during the period from August 20, 2013 to September 26, 2013, inclusive (the "Class Period"), Defendants made false and misleading statements to investors concerning JCPenney’s liquidity, need for additional financing, sufficiency of inventory, and strength of supplier relationships that artificially inflated JCPenney’s stock price, and those statements resulted in substantial damage to the Class.

The Defendants have denied and continue to deny specifically each and all of the claims and contentions alleged in the Action.

The Lead Plaintiff believes that the proposed Settlement is a very good recovery and is in the best interests of the Class. If approved by the Court, the proposed Settlement will create a fund in the amount of $97,500,000.00 in cash and will include interest that accrues on the fund prior to distribution.

The Class includes all persons who purchased or otherwise acquired JCPenney common stock or call options, or who sold JCPenney put options, between August 20, 2013 and September 26, 2013, inclusive.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Pendency and Proposed Settlement of Class Action ("the Notice") and Settlement Agreement, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

Submit a Proof of Claim and Release Form	The only way to be eligible to receive a payment from the Settlement. Proof of Claim and Release forms must be postmarked or submitted online on or before November 6, 2017.
Exclude Yourself	Get no payment. If you exclude yourself from the Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you to ever be part of any other lawsuit against the Defendants, Related or Released Persons concerning the Released Claims. Requests for exclusion must be postmarked on or before November 8, 2017.
Object	If you do not like the Settlement, Plan of Allocation, the application for an award of attorneys' fees and expenses or Plaintiffs' application for an award for the reimbursement of their time and expenses, you may write to the Court and explain why you do not like them. You can only object to the Settlement, the Plan of Allocation and/or the fee and expense requests if you are a Class Member and you do not exclude yourself from the Class. Objections must be received by the Court and counsel on or before November 8, 2017.
Attend the Settlement Hearing	If you submit a written objection, you may (but you do not have to) attend the hearing and speak to the Court about your objection. Notices of intention to appear must be received by the Court and counsel on or before November 8, 2017.
Do Nothing	You will not be eligible to receive a payment from the Settlement Fund. You will, however, remain a member of the Class and you will be bound by any judgments or orders entered by the Court in the Action.