If you purchased or otherwise acquired Ryanair Holdings plc (“Ryanair”) American Depositary Shares (“ADSs”) between May 30, 2017 and September 28, 2018, inclusive, you could be entitled to a payment from a proposed Settlement.

For a full description of the Settlement, including a description of your rights under the Settlement and how to file a claim, click on the Case Documents page where you can download and review the Stipulation and Agreement of Settlement ("Stipulation"), the Notice of Pendency and Proposed Settlement of Class Action ("Notice"), the Proof of Claim and Release ("Proof of Claim"), and other critical documents.

In order to participate in the Settlement, you must submit a Proof of Claim. For the most effective submission method, we recommend you submit a Claim Form on this website. There is a link found on the File Claim page under the header “Submit Your Claim Form Online.”

Note that the online link will be disabled at any time after the submission deadline and you will only be able to submit via mail.

A brief background of the case is provided in the Notice on pages 4 and 5 and is also summarized on the home page of this website for your convenience. We do not have any more information regarding the background of this case available beyond what is provided in the Notice.

The Court has defined the Class as follows: all persons and entities who purchased or otherwise acquired Ryanair ADSs between May 30, 2017 and September 28, 2018, inclusive (the “Class Period”), and were damaged thereby. Excluded from the Class are Defendants and their immediate families, Ryanair’s officers and directors at all relevant times, as well as their immediate families, Defendants’ legal representatives, heirs, successors, or assigns, and any entity in which any Defendant has a controlling interest. Also excluded from the Class are any Persons who timely and validly request exclusion from the Class as ordered by the Court.

Please Note: Receipt of the Notice does not mean that you are a Class Member. Please check your records or contact your broker to see if you purchased or otherwise acquired Ryanair ADSs during the Class Period.

We are unable to advise regarding claim eligibility prior to receiving and processing a Proof of Claim submission. We cannot be more specific than the information which has been included in the Notice and cannot interpret how the Notice or Plan of Allocation may apply to a specific claim prior to processing.

Please read the Notice and Class definition carefully and decide whether or not you wish to submit a Proof of Claim. If you are still not certain of eligibility and want for us to determine eligibility, you will need to submit a Proof of Claim along with supporting documentation for your transactions.

Email is not an acceptable submission method and claims submitted via email will not be reviewed for eligibility. As indicated in the general instructions for the Proof of Claim, you must submit your claim online via this website or mail your completed and signed Proof of Claim addressed as follows:

Ryanair Securities Settlement
Claims Administrator
c/o Gilardi & Co. LLC
PO Box 301133
Los Angeles, CA 90030-1133

To submit your Proof of Claim online, use the link under the header “Submit Your Claim Form Online" on the File Claim page.

In the Settlement, Ryanair has agreed to pay or cause to be paid $5,000,000.00 in cash, which will be deposited in an interest-bearing escrow account for the benefit of the Class (the “Settlement Fund”). The Settlement Fund will be divided, after deduction of Court-awarded attorneys’ fees and expenses, settlement administration costs and any applicable taxes and tax expenses, among all Class Members who timely submit valid Proofs of Claim that are accepted for payment by the Court (“Authorized Claimants”). 

To be potentially eligible for a payment from the proceeds of the Settlement, you must be a Member of the Class and must timely complete and return the Proof of Claim with adequate supporting documentation postmarked, if mailed, or received, if submitted online, no later than October 17, 2023. 

The Plan of Allocation, discussed on pages 12-15 of the Notice, explains how the Net Settlement Fund will be allocated among purchasers and/or acquirers of Ryanair ADSs and how claimants’ “Recognized Claims” will be calculated. Your share of the Net Settlement Fund will depend on several things, including: (i) the quantity of Ryanair ADSs you bought or otherwise acquired; (ii) how much you paid for such ADSs; (iii) when you bought or otherwise acquired such ADSs; (iv) whether or when you sold such ADSs (and, if so, for how much you sold them); and (v) the amount of Recognized Claims of other Authorized Claimants.

It is unlikely that you will get a payment for your entire Recognized Claim, given the number of potential Class Members. After all Class Members have sent in their Proofs of Claim, the payment any Authorized Claimant will get will be their pro rata share of the Net Settlement Fund based on the Plan of Allocation approved by the Court. In general, an Authorized Claimant’s share will be his, her or its Recognized Claim divided by the total of all Authorized Claimants’ Recognized Claims and then multiplied by the total amount in the Net Settlement Fund. 

The law firm of Robbins Geller Rudman & Dowd LLP was appointed to represent all Class Members. These lawyers are called Lead Counsel. You will not be separately charged for the services of these lawyers. The Court will determine the amount of Lead Counsel’s fees and expenses. Any fees and expenses awarded by the Court will be paid from the Settlement Fund. If you want to be represented by your own lawyer, you may hire one at your own expense.

Lead Counsel have not received any payment for their services in pursuing the claims against the Defendants on behalf of the Class since the Action was commenced in 2018, nor have they been paid to this point for any of their litigation expenses.  At the Settlement Hearing described below, or at such other time as the Court may order, Lead Counsel will ask the Court to award them, from the Settlement Fund, attorneys’ fees of up to 18% of the Settlement Amount and litigation expenses that they have incurred in pursuing the Action in an amount not to exceed $600,000.00, plus interest on both amounts from the date of funding at the same rate earned by the Settlement Fund. Lead Counsel will also request awards to Plaintiff in connection with its representation of the Class, in an amount not to exceed $5,000.00 in the aggregate.

The Court will hold a Settlement Hearing at 12:30 p.m. ET, on October 20, 2023, in the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007, Courtroom 706. At this hearing, the Court will consider whether the Settlement is fair, reasonable and adequate. The Court also will consider the proposed Plan of Allocation for the proceeds of the Settlement and Lead Counsel’s application for attorneys’ fees and expenses. The Court will take into consideration any written objections filed in accordance with the instructions set out in the Notice. We do not know how long it will take the Court to make these decisions.

You should also be aware that the Court may change the date and time of the Settlement Hearing without another notice being sent to Class Members. If you want to come to the hearing, you should check with Lead Counsel before coming to be sure that the date and/or time has not changed.

No. Lead Counsel will answer any questions the Court may have. But, you are welcome to come at your own expense. If you validly submit an objection, it will be considered by the Court. You can, but do not have to, come to Court to talk about it. 

We do not hold stock records here. Gilardi & Co., LLC is a third-party administrator appointed by the Court to notify potential claimants. We are provided with names and addresses of potential claimants in order to notify individuals of settlements but do not have access to your private investment records. We recommend you contact the institution where you held your Ryanair ADSs and request proof or supporting documentation for your claim.

We cannot advise you as to whether or not you should choose to submit a claim, objection, or exclusion.

Unless you timely and validly exclude yourself, you are staying in the Class, and that means that you cannot sue, continue to sue, or be part of any other lawsuit against Defendants or any other Related Parties in this case. It also means that all of the Court’s orders will apply to you and legally bind you, and you will release your claims in this case against Defendants and their Related Parties. The terms of the release are included in the Proof of Claim and the Stipulation.

If you do not submit a Proof of Claim, you will not receive any money from this Settlement but will still be part of the Class and subject to applicable releases.

Objecting is simply telling the Court that you do not like something about the Settlement. You can object only if you stay in the Class.

Excluding yourself is telling the Court that you do not want to be paid and do not want to release any claims you think you may have against Defendants or any of the Related Parties. If you exclude yourself, you cannot object to the Settlement because it does not affect you.

To “opt out” (exclude yourself) from the Class, you must deliver or mail a signed letter by First-Class Mail stating that you “request exclusion from the Class in City of Birmingham Firemen’s and Policemen’s Supplemental Pension System v. Ryanair Holdings plc and Michael O’Leary, No. 1:18-cv-10330-JPO.” Your letter must state the date(s), price(s), and number of your Ryanair ADSs purchases, acquisitions, and sales during the Class Period. This information is needed to determine whether you are a Class Member. In addition, you must include your name, address, telephone number, and your signature. You must submit your request for exclusion addressed to Ryanair Securities Settlement, Claims Administrator, EXCLUSIONS, c/o Gilardi & Co. LLC, P.O. Box 5100, Larkspur, CA 94977-5100. The request for exclusion must be postmarked on or before September 29, 2023. You cannot exclude yourself or opt out by telephone or by email. Your request for exclusion must comply with these requirements in order to be valid. If you are excluded, you will not be eligible to get any payment from the Settlement proceeds and you cannot object to the Settlement, the proposed Plan of Allocation, or the application for attorneys’ fees and expenses.

If you are a Class Member and do not exclude yourself (“opt out”) in accordance with Question No. 15 above, you can object to any part of the Settlement, the proposed Plan of Allocation, and/or the application by Lead Counsel for attorneys’ fees and expenses, including Plaintiff’s request for awards in connection with its representation of the Class. You must write to the Court setting out your objection, giving reasons why you think the Court should not approve any part or all of the Settlement, the proposed Plan of Allocation, or the attorneys’ fees and expenses request.

To object, you must send a signed letter stating that you object to the proposed Settlement in the case known as: City of Birmingham Firemen’s and Policemen’s Supplemental Pension System v. Ryanair Holdings plc and Michael O’Leary, No. 1:18-cv-10330-JPO. You must include your name, address, telephone number, and your signature; include documents sufficient to prove your membership in the Class, such as the number of shares of Ryanair ADSs purchased or acquired during the Class Period, as well as the dates and prices of each such purchase, acquisition, and sale. Your letter must also state the specific reasons why you object to the Settlement, the proposed Plan of Allocation, or the attorneys’ fees and expenses request, including any legal or evidentiary support for your objection. Your objection must state whether it applies only to you, to a specific subset of the Class, or to the entire Class. You must also identify all class action settlements to which you or your counsel have previously objected.

Unless otherwise ordered by the Court, any Class Member who does not object in the manner described in the Notice will be deemed to have waived any objection and will not be able to appear separately at the Settlement Hearing or to make any objection to the Settlement, the proposed Plan of Allocation, and/or the application for attorneys’ fees and expenses. If you elect to “opt out,” you will not be entitled to share in the Settlement proceeds and will not have a right to make an objection to the Settlement, proposed Plan of Allocation and/or the application for attorneys’ fees and expenses.

Your objection must be filed with the United States District Court for the Southern District of New York by hand or by mail such that it is received on or before September 29, 2023, at the address set forth below. You must also serve the papers on Lead Counsel and Defendants’ Counsel at the addresses set forth below so that the papers are received on or before September 29, 2023.

COURT:
CLERK OF THE COURT
United States District Court
Southern District of New York
Thurgood Marshall United States
Courthouse
40 Foley Square
New York, NY 10007

DEFENDANTS’ COUNSEL:
CLEARY GOTTLIEB STEEN
& HAMILTON LLP
Jared Gerber
One Liberty Plaza
New York, NY 10006

LEAD COUNSEL:
ROBBINS GELLER RUDMAN
& DOWD LLP
Robert R. Henssler
655 West Broadway, Suite 1900
San Diego, CA 92101

If you validly submit an objection, it will be considered by the Court. You do not have to come to Court to talk about it. Lead Counsel will answer any questions the Court may have. But, you are welcome to come at your own expense.

Separate Proofs of Claim should be submitted for each separate legal entity (e.g., a claim from joint owners should not include the transactions of just one of the joint owners, and an individual should not combine his or her IRA transactions with transactions made solely in the individual’s name).

However, a single Proof of Claim should be submitted on behalf of one legal entity that includes all transactions made by that entity, no matter how many separate accounts that entity has (e.g., a corporation with multiple brokerage accounts should include all transactions made in all accounts on one Claim Form).

When filing on behalf of a deceased beneficial owner or their estate, you can submit a claim in the name of the individual, or, if an estate exists, you can submit on behalf of the estate. Note that any settlement proceeds will be made payable to the estate if that is how you submit that claim.

The claim submission should include a copy of the death certificate as well as proof of authority to file. As you are submitting a Proof of Claim as a representative on behalf of someone else (e.g., as an executor, administrator, trustee or other representative), you must document your authority to file on their (or their estate’s) behalf. Proof of authority can include a copy of the Last Will and Testament, Letters Testamentary, evidence of probate, proof of authority as executor or beneficiary and/or any other testamentary provisions of the deceased person. Do not send originals as any documents submitted with your claim will not be returned.

Depending on whether you submit on behalf of the individual on behalf of the estate, please provide the appropriate tax identification number or last four digits of the social security number and sign the Proof of Claim.

The claim must be submitted for the benefit of the actual beneficial owner/purchaser of the shares or their estate. Do not submit the Proof of Claim in the name of the deceased person’s family or other heirs. We must issue the check to the actual beneficial owner/purchaser of the shares. We cannot issue any applicable check in the name of the deceased person’s family, beneficiaries or other heirs.

Sufficient documentation will provide proof of all the transaction information required by the Proof of Claim .

Suggested forms of documentation include, but are not limited to, photocopies of stockbrokers' confirmation slips or stockbrokers' monthly statements reflecting your transactions, opening and closing balances for the months specified on the Proof of Claim, and in which transactions during the relevant period occurred.

Stock certificates are not considered a sufficient form of documentation as they do not provide the necessary trade date and transaction price information. We are also unable to accept handwritten documents, self-prepared tax forms or spreadsheets, or statements that are illegible due to document quality.

Please send your late submission when you are able, as we will continue to process late claims. Up until the point when we are prepared to distribute the settlement fund, late claims which are otherwise valid will be accepted. Distributions in settlements such as this typically take place ten months to a year after the filing deadline, but this is an average estimate and claims processing could take longer depending on various factors, including whether a large number of late claims are being submitted due to delays outside of the control of claimants.

The Settlement Hearing will be held on October 20, 2023. The Court reserves the right to approve the Settlement or the Plan of Allocation, Lead Counsel’s motion for an award of attorneys’ fees and expenses, and/or any other matter related to the Settlement at or after the Settlement Hearing without further notice to the members of the Class. If the Court approves the Settlement, there might be appeals.  It is always uncertain whether these appeals can be resolved, and resolving them can take time, perhaps more than a year. 

It also takes time for all the Claim Forms to be processed.  Processing time on our cases can take an average of twelve months or more from the October 17, 2023 filing deadline. Once processing is complete, we must then wait for authorization from Counsel and/or the Court before we can distribute the funds which can take several additional months.

Please understand that this is an estimated timeframe for processing based on our experience which does not guarantee that all case processing will be completed within twelve months. Processing time varies from case to case and some cases may take more or less time based on the specifics of that case settlement.

If your claim has been received and we have any questions or need additional information or documentation to assist in the processing of your claim, we will contact you by using one or more of the contact methods (phone, e-mail, mail) which you listed on your Claim Form submission.

We will not have the final claim payout amount available until we have processed all of the claims, calculated the total loss of claims filed, and received approval from the Court and/or Plaintiffs' Counsel.

We appreciate your patience as accurate claims processing takes time.

If you do nothing, you will not receive any money from this Settlement.  In addition, unless you exclude yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against Defendants and their Related Parties about the Released Claims in this case.