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Case Status:    SETTLED
On or around 09/20/2013 (Other)

Filing Date: July 10, 2009

According to a press release dated July 10, 2009, the complaint charges Kerr-McGee Corporation (“Kerr-McGee”), Anadarko Petroleum Corporation (“Anadarko”) and certain of Kerr-McGee and Tronox’s executives with violations of the Exchange Act. Tronox is a Delaware corporation engaged in the business of producing and marketing titanium dioxide – a white pigment used in a wide range of products to impart whiteness, brightness and opacity.

Tronox was spun-off from Kerr-McGee in a two-step transaction. In November 2005, Kerr-McGee sold 17.5 million shares of Tronox Class A shares in an initial public offering for $14.00 per share (the “IPO”) generating proceeds for Kerr-McGee of $225 million. After the IPO, Kerr-McGee continued to hold 56.7% of Tronox’s outstanding common stock. In March 2006, Kerr-McGee distributed the balance of the shares that it owned as Class B shares to its shareholders as a dividend (the “Spin-Off”).

The Complaint alleges that, throughout the Class Period, Defendants failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the Complaint alleges that Defendants failed to disclose the true scope and extent of Tronox’s environmental and tort liabilities. When the market learned of the true facts about the Company, the price of Tronox stock declined precipitously.

On October 13, 2009, an order consolidating the actions, appointing lead plaintiff and approving lead plaintiffs' selection of lead counsel along with an accompanying opinion was entered by the court.

On November 24, 2009, a Consolidated Class Action Complaint For Violations Of The Federal Securities Laws was filed against the defendants in this action.

On June 28, 2010, an Opinion and Order was issued by the Court granting part and denying in part the defendants' motions to dismiss.

On July 30, 2010, the First Amended Consolidated Class Action Complaint was filed by the lead plaintiffs against the defendants.

On August 10, 2012, the Court issued an Order preliminarily approving the proposed settlement.

On November 26, 2012, the Court issued an Order Approving Plan of Allocation of Net Settlement Fund. On the same date, the Court also issued an Order Awarding Attorneys' Fees and Expenses. Finally, the Court entered a Final Judgment Approving Class Action Settlement. The Clerk of the Court was expressly directed to immediately enter judgment against Defendants.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Chemical Manufacturing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TRXAQ
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 09-CV-06220
JUDGE: Hon. Shira Scheindlin
DATE FILED: 07/10/2009
CLASS PERIOD START: 11/28/2005
CLASS PERIOD END: 01/12/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Coughlin Stoia Geller Rudman & Robbins LLP (Melville)
    58 South Service Road, Suite 200, Coughlin Stoia Geller Rudman & Robbins LLP (Melville), NY 11747
    631.367.7100 631.367.1173 · info@csgrr.com/
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 09-CV-06220
JUDGE: Hon. Shira Scheindlin
DATE FILED: 11/24/2009
CLASS PERIOD START: 11/21/2005
CLASS PERIOD END: 01/12/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (Former New York)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (Former New York), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
  2. Cohen Milstein Sellers & Toll PLLC (New York)
    88 Pine Street, 14th Floor, Cohen Milstein Sellers & Toll PLLC (New York), NY 10022
    212.838.7797 212.838.7797 ·
  3. Cohen Milstein Sellers & Toll PLLC (Washington DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen Milstein Sellers & Toll PLLC (Washington DC), DC 20005
    202.408.4600 202.408.4600 ·
  4. Gold Bennett Cera & Sidener LLP
    595 Market Street, Suite 2300, Gold Bennett Cera & Sidener LLP, CA 94105-2835
    800.778.1822 415.777.5189 · info@gbcsf.com
No Document Title Filing Date
No Document Title Filing Date