Overview
Weber Inc. has agreed to pay $19.25 million to resolve a stockholder class action lawsuit stemming from its acquisition by BDT Capital Partners, LLC. The lawsuit claimed the deal, which took Weber private at $8.05 per share, unfairly benefited BDT and certain board members at the expense of minority shareholders.
Who Is Eligible?
You may be eligible for a cash payment if:
- You held Weber Inc. Class A common stock at any time between December 11, 2022, and February 21, 2023
- You received or were entitled to receive the $8.05 per share in the merger
- Or, you are the successor or assign of an eligible stockholder
How Much Will You Receive?
- Pro Rata Cash Payment: The amount you receive will depend on the number of qualifying shares you held at the time of the merger.
- The settlement fund will be distributed proportionally among all eligible stockholders.
Do You Need to File a Claim?
No.
Eligible stockholders do not need to file a claim form.
Payments will be made automatically using shareholder data provided by Weber Inc. and the Depository Trust Company (DTC).
How Will You Be Paid?
- Held through a broker or bank? Your payment will be issued through your intermediary.
- Held shares directly? A paper check will be mailed to the address on record.
Settlement Fund Allocation – $19,250,000 Total
- Class Member Payments: Remaining balance after fees and costs
- Attorneys’ Fees: Up to $4,812,500
- Litigation Expenses: To be submitted for court approval
- Settlement Administration: Costs still to be determined
Key Dates
- Final Fairness Hearing: June 30, 2025
- Claim Form Deadline: None – claim filing not required
- Opt-Out Deadline: None – this is a mandatory class
Why Was There a Lawsuit?
The lawsuit alleged that BDT Capital Partners, LLC and certain Weber board members breached fiduciary duties by structuring a buyout that was not fair to public stockholders. Plaintiffs claimed the transaction lacked adequate oversight, undervalued the company, and that shareholder disclosures were insufficient.
Defendants deny all wrongdoing but agreed to the settlement to avoid the burden and uncertainty of continued litigation.
Sources:
- Notice of Pendency and Proposed Settlement of Class Action
- Official Settlement Website
- Stipulation and Agreement of Settlement, Compromise, and Release
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.
