$30M Settlement Reached in Securities Class Action Lawsuit against Waste Management

Waste Management Inc. has reached a $30 million settlement deal in a securities class action suit. The lawsuit alleged that the company and certain executives provided misleading information about the timing and regulatory approval of its acquisition of Advanced Disposal Services Inc. between Feb. 13, 2020, and June 23, 2020.

Individuals who purchased specific Waste Management redeemable senior notes during this period may be eligible to receive a cash payout from the settlement. To qualify, claimants must have bought any of the following notes in domestic transactions within the specified timeframe: 2.95% senior notes due 2024, 3.20% senior notes due 2026, 3.45% senior notes due 2029, or 4.00% senior notes due 2039. They must have also suffered losses as a result of their purchase.

Claimants who held the notes in their name must sign the claim form themselves, while beneficial owners of notes registered in a third party’s name must submit the form independently. Executors, administrators, guardians, or trustees may file claims on behalf of deceased or incapacitated owners with proper documentation.

The total settlement fund of $30 million will be distributed on a pro rata basis among eligible claimants. The final payment amount will depend on the number of valid claims, each claimant’s recognized loss, and deductions for taxes, administrative costs, and legal fees. On average, each damaged note is expected to receive around $24 before deductions and $9.28 after deductions. However, individual payments may vary.

The recognized loss amount for each type of note will be calculated based on purchase and sale dates, as well as the purchase price. If the calculated distribution for a claimant falls below $10, no payment will be made. Claimants have until Nov. 21, 2025, to file a claim online or by mail to the settlement administrator in Los Angeles, CA.

To support their claim, all class members must provide the last four digits of their Social Security or taxpayer identification number and documentation of their Waste Management senior note transactions. Acceptable proof includes brokerage confirmation slips, account statements, or authorized statements from brokers detailing transactions.

The $30 million settlement fund will cover administration costs, attorneys’ fees and expenses, service awards to lead plaintiffs, and payments to eligible class members. The deadline to file a claim is Nov. 21, 2025, and eligible class members will receive their payments after final court approval of the settlement.

The class action lawsuit was initiated due to allegations that Waste Management Inc. and certain executives deceived investors regarding the acquisition of Advanced Disposal Services Inc. This misleading information led to artificial inflation of note prices, resulting in financial losses for investors during the specified period.