Veon Ltd. has agreed to pay nearly $20 million into a settlement fund to resolve claims that the company misled investors regarding its operations and internal controls in Uzbekistan, specifically that they concealed a bribery scheme occurring in Uzbekistan.
Total Settlement Amt:
$19,970,000
Veon Ltd. (formerly VimpelCom Ltd.) has agreed to pay $19,970,000 to resolve claims that the company violated federal securities laws by making materially false and misleading statements regarding its internal controls and telecommunications operations in Uzbekistan. Specifically, the complaint alleged that the company concealed a bribery scheme used to secure business in Uzbekistan, which artificially inflated the price of its American Depositary Shares (ADSs).
You may be eligible for benefits if you are a person or entity who purchased Veon Ltd. ADSs between June 30, 2011 and November 3, 2015 and held those shares until at least March 12, 2014.
You purchased Veon Ltd. ADSs between June 30, 2011, and November 3, 2015
You held those shares through at least March 12, 2014
The share of the Settlement Fund paid to class members depends on several factors, including: when you purchased VEON Ltd. ADSs, the price at the time of purchase, whether you sold VEON Ltd. ADSs and at what amount, the Recognized Losses, and various administrative and court costs
Submit your claim to receive a portion of the settlement fund of nearly $20 million
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