Electrobras Securities Litigation

Welcome to the settlement website for the In re Eletrobras Securities Litigation (the “Action”).

If you purchased or otherwise acquired Eletrobras common and/or preferred American Depositary Shares between August 17, 2010 and June 24, 2015, you could be entitled to a payment from this class action settlement (the “Settlement”).

The purpose of this website is to inform you of the pendency of this Action as a class action and the proposed Settlement of the Action and of the hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement as well as counsel’s application for fees, costs, and expenses. Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Claim Form, both of which can be found and downloaded from this website on the Documents page. Please read the Notice.

The Notice describes in detail the rights you may have in connection with your participation in the Settlement, what steps you may take in relation to the Settlement and this class action, and, alternatively, what steps you must take if you wish to be excluded from the Settlement Class and this Action. If you are a Settlement Class Member (as defined in the Notice), your legal rights are affected whether you act or do not act. Please read the Notice and other relevant case documents to fully understand your rights.

The Settlement resolves claims by Settlement Class Members. If approved by the Court, the Settlement will provide Fourteen Million Seven Hundred Fifty Thousand Dollars in cash ($14,750,000.00).

The Settlement Class includes:

All persons who purchased or otherwise acquired Eletrobras common and/or preferred American Depositary Shares (trading symbols EBR and EBR.B, respectively) either on a United States exchange or pursuant to other Covered Transactions between August 17, 2010 and June 24, 2015, inclusive (the “Class Period”).

Your Legal Rights and Options in This Settlement

SUBMIT A PROOF OF CLAIM BY JANUARY 4, 2019	This is the only way to be eligible to receive a payment from the Settlement. If you are a Settlement Class Member, you will be bound by the Settlement as approved by the Court and you will give up any Released Claims (as defined in ¶ 78 of the Notice) that you have against the Released Persons (as defined in ¶ 79 of the Notice), so Lead Counsel believes it is in your interest to submit a Claim Form. Claims Forms must be postmarked or submitted online no later than January 4, 2019.
EXCLUDE YOURSELF FROM THE SETTLEMENT BY NOVEMBER 14, 2018	If you do not wish to be included in the Settlement Class and you do not wish to participate in the proposed Settlement described in this Notice, you may request to be excluded, as described in more detail below. You cannot exclude yourself by phone or by email. If you ask to be excluded from the Settlement Class, you will not get any settlement payment. *Exclusion requests must be received* no later than November 14, 2018.**
OBJECT TO THE SETTLEMENT BY NOVEMBER 14, 2018	If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation or the fee and expense request unless you are a Settlement Class Member and you did not previously submit a request for exclusion from the Settlement Class. *Objections must be received* no later than November 14, 2018.**
FILE A NOTICE OF INTENTION TO APPEAR BY NOVEMBER 14, 2018	Filing a written objection and notice of intention to appear by November 14, 2018 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses. *Notice of Intention to Appear must be received* no later than November 14, 2018.**
GO TO THE HEARING ON DECEMBER 12, 2018	If you submit a written objection, you may (but do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. The Settlement Hearing will take place at the United States District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007.
DO NOTHING	If you are a member of the Settlement Class and you do not submit a Claim Form by January 4, 2019, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.

Current Status

On June 15, 2020, the Court entered an Order Approving Administrative Determinations and Authorizing Distribution of the Net Settlement Fund. The initial distribution for this matter occurred on August 11, 2020.

Important Dates

August 17, 2010 – June 24, 2015 (inclusive)
Class Period
November 14, 2018
Deadline to Exclude yourself from the Settlement
November 14, 2018
Deadline to Object to the Settlement
December 12, 2018 at 10:30 a.m.
Settlement Hearing
January 4, 2019
Deadline to submit a Claim Form