Vestas Wind Systems A/S Securities Litigation Website
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Welcome to the Vestas Wind Systems A/S Securities Litigation Website

This website has been established to provide general information regarding the proposed Settlement of the Vestas Wind Systems A/S ("Vestas") Securities Litigation, Case No. 3:11-cv-00585-MO, pending in the United States District Court for the District of Oregon. The capitalized terms used on this website and not defined herein shall have the same meanings ascribed to them in the Stipulation of Settlement dated June 26, 2014.

The Lawsuit is a securities class action filed against Vestas. Lead Plaintiff and Vestas reached an agreement to settle the Lawsuit, subject to Court approval. The proposed Settlement, if approved, will provide relief to all persons and entities who purchased American Depositary Receipts for Vestas ordinary shares ("ADRs") or Vestas common stock (ordinary shares) in U.S. domestic transactions (including on the over-the-counter market) during the Class Period, February 11, 2009 through February 9, 2012, and who qualify for a distribution under the Plan of Allocation described in the Notice of: (1) Pendency and Proposed Settlement of Class Action and (2) Hearing on Proposed Settlement (the "Notice"). The proposed Settlement does not apply to purchases of Vestas securities in non-U.S. transactions (including on the NASDAQ OMX in Copenhagen).

The proposed Settlement provides for settlement relief of $5,000,000 in cash (the "Settlement Amount"). The Settlement Amount has been deposited into an Escrow Account. The Net Settlement Amount (meaning the Settlement Amount plus any interest that accrues, less taxes, notice and administrative costs, and attorneys' fees and expenses awarded to counsel representing Lead Plaintiff and the Class) will be distributed in accordance with a Plan of Allocation that will be approved by the Court and will determine how the Net Settlement Amount shall be allocated among the Class Members. The proposed Plan of Allocation is included in the Notice. Lead Plaintiff's damages consultant estimates that approximately 17 million ADRs and approximately 900,000 shares of Vestas common stock might have been affected by the conduct alleged in the Lawsuit. If all Class Members choose to participate in the Settlement, the average per-share recovery would be approximately $0.75 per affected ordinary share before the deduction of attorneys' fees, costs, and expenses as approved by the Court.

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice of: (1) Pendency and Proposed Settlement of Class Action and (2) Hearing on Proposed Settlement and the Stipulation of Settlement, 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.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

REMAIN A CLASS MEMBER The only way to get a payment. If you want to obtain a payment as a Class Member, you must submit a Claim Form (included with the Notice) postmarked or received no later than December 29, 2014.
EXCLUDE YOURSELF FROM THE CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION RECEIVED  NO LATER THAN NOVEMBER 19, 2014 Get no payment. This is the only option that allows you to ever be part of any other lawsuit against Vestas or any related persons or entities concerning the claims in this case.
OBJECT TO THE SETTLEMENT BY SUBMITTING WRITTEN OBJECTIONS RECEIVED NO LATER THAN NOVEMBER 19, 2014 Write to the Court and explain why you do not like the Settlement, the proposed Plan of Allocation, or the request for attorneys' fees and expenses. You cannot object to the Settlement unless you are a Class Member and do not exclude yourself.
GO TO THE HEARING ON DECEMBER 9, 2014 AT 11:00 A.M. P.S.T., AND FILE A NOTICE OF INTENTION TO APPEAR, RECEIVED NO LATER THAN NOVEMBER 19, 2014 Ask to speak in Court about the fairness of the Settlement, the proposed Plan of Allocation, or request for attorneys' fees and expenses.
DO NOTHING Get no payment. Remain a Class Member. Give up your rights.

 

 IMPORTANT DATES AND DEADLINES

Exclusion Submission Deadline November 19, 2014
Objection Filing Deadline November 19, 2014
Settlement Hearing December 9, 2014 at 11:00 a.m. P.S.T.
Claim Submission Deadline December 29, 2014