Waste Management and $WM Investors Finalise Settlement Agreement

Court: S.D. New York

Case: 1:22-cv-04838

The settlement agreement between Waste Management and WM investors has been finalised and is now up for final court approval.

What is this settlement?

In 2019, Waste Management announced a $4.9B acquisition of Advanced Disposal Services and issued $3 billion in senior notes, promising to close the deal by July 14, 2020—or redeem the notes at a premium. Despite internal DOJ concerns, the company reassured investors of a timely closing.

On June 24, 2020, Waste Management revised the deal, triggering a 101% note redemption that led to losses for bondholders. The DOJ later confirmed that $835 million in divestitures were required for approval.

Following this, Waste Management was sued by investors and has agreed to settle.

What can you do to recover your losses now?

While the details are still being finalised, you can already submit your claim and be notified of any further updates.

More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed.