Welcome to the Waste Management Notes Securities Settlement Website
This website has been established to provide general information related to the proposed Settlement of the class action lawsuit referred to as In re Waste Management Securities Litigation, Civil Action No. 1:22-cv-04838-LGS (the "Litigation"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement, dated July 10, 2025 (the "Stipulation"), which can be found and downloaded by clicking on the Case Documents tab above.
The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. These lawyers are called Lead Counsel. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.
WHAT IS THIS LAWSUIT ABOUT?
As more fully described in the Notice of Pendency and Proposed Settlement of Class Action (the "Notice"), this is a securities class action asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of purchasers of the WM Notes during the Class Period. Seafarers Officers & Employees Pension Plan, Seafarers Money Purchase Pension Plan, and United Industrial Workers Pension Plan ("Lead Plaintiffs") allege that WM, James C. Fish, Jr., John J. Morris, and Devina A. Rankin ("Defendants") made materially false and misleading statements and/or omissions concerning the timing of Waste Management's acquisition of Advanced Disposal Services, Inc. ("ADS").
The Court directed that everyone who fits this description is a Class Member: all persons who purchased or otherwise acquired any of the following Waste Management redeemable senior notes, between February 13, 2020 and June 23, 2020, inclusive, in one or more domestic transactions, and were damaged thereby; (i) 2.95% Senior Notes due 2024 (CUSIP 94106LBF5); (ii) 3.20% Senior Notes due 2026 (CUSIP 94106LBH1); (iii) 3.45% Senior Notes due 2029 (CUSIP 94106LBG3); or (iv) 4.00% Senior Notes due 2039 (CUSIP 94106LBJ7) (the "WM Notes" or "Notes"). Excluded from the Class are Defendants, the officers and directors of the Company, at all relevant times, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest. Also excluded from the Class is any Person who properly excludes himself, herself, itself, or themselves from the Class by submitting a valid and timely request for exclusion.
WHAT DOES THE SETTLEMENT PROVIDE?
The Settlement provides that, in exchange for the release of the Released Plaintiffs' Claims (defined in the Stipulation) and dismissal of the Litigation, Defendants have agreed to pay or cause to be paid $30 million in cash to be distributed after Taxes, Tax Expenses, Notice and Administration Expenses, and Court-approved attorneys' fees and expenses, pro rata, to Class Members who send in a valid Proof of Claim pursuant to the Court-approved Plan of Allocation. The Plan of Allocation is described in more detail at the end of the Notice and in Appendix A attached thereto.
ADDITIONAL INFORMATION
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation, 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. You may also wish to read the answers to Frequently Asked Questions provided on this website.
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
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SUBMIT A PROOF OF CLAIM
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The only way to be eligible to receive a payment from the Settlement. Proofs of Claim must be postmarked or submitted online on or before November 21, 2025. |
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EXCLUDE YOURSELF FROM THE CLASS
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Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement. Should you elect to exclude yourself from the Class you should understand that Defendants and the other Released Defendant Parties will have to the right to assert any and all defenses they may have to any claim that you may seek to assert, including, without limitation, the defense that any such claims are untimely under applicable statutes of limitations and statutes of repose. Requests for exclusion must be postmarked on or before November 25, 2025.
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OBJECT
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Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys' fees and expenses. You will still be a Member of the Class. Objections must be received by the Court and counsel on or before November 25, 2025. If you submit a written objection, you may (but do not have to) attend the Settlement Hearing.
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GO TO THE SETTLEMENT HEARING ON DECEMBER 16, 2025
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Ask to speak in Court about the fairness of the Settlement, the Plan of Allocation, and/or the request for attorneys' fees and expenses. Requests to speak at the Settlement Hearing must be received by the Court and counsel on or before November 25, 2025.
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DO NOTHING
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Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.
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IMPORTANT DATES AND DEADLINES
| Submit Proof of Claim: |
November 21, 2025 |
| File Notice of Intention to Appear: |
November 25, 2025 |
| Submit Objection: |
November 25, 2025 |
| Request Exclusion: |
November 25, 2025 |
| Settlement Hearing: |
December 16, 2025 at 2:30 p.m. |
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