If you purchased Veon Ltd. (formerly VimpelCom Ltd.) American Depositary Shares (ADSs) between June 30, 2011, and Nov. 3, 2015, you may qualify for a payment from a $19.97 million class action settlement.
The lawsuit claims investors were misled about the company’s operations and internal controls related to its telecommunications business in Uzbekistan. Veon denies wrongdoing but agreed to settle the case.
If you qualify, you must submit a claim by April 28, 2026 to receive a payment.
Why This Lawsuit Exists?
The lawsuit alleged that Veon Ltd. violated federal securities laws by making false or misleading statements about its internal controls and the nature of its operations in Uzbekistan.
According to the complaint, the company allegedly concealed that it paid bribes to conduct business in Uzbekistan, which plaintiffs say artificially inflated the price of its ADSs.
When the truth allegedly came out, investors claimed they suffered financial losses.
Veon denies all allegations but agreed to pay $19,970,000 to resolve the claims and avoid continued litigation.
Who Qualifies for a Payment?
You may be eligible if:
You purchased Veon Ltd. (formerly VimpelCom Ltd.) ADSs between June 30, 2011, and Nov. 3, 2015, and
You held those ADSs through at least March 12, 2014
Additional details:
Both individual investors and entities may qualify
Executors, trustees, or other representatives may file on behalf of investors if they provide proof of authority
Proof of transactions is required
How Much Money Could You Get?
The settlement creates a $19,970,000 fund to pay eligible investors.
Payments depend on several factors, including:
How many valid claims are submitted
When you bought and sold the ADSs
Your recognized losses compared to other investors
Estimated recovery:
About $0.069 per allegedly damaged ADS before deductions
About $0.045 per ADS after fees and expenses (estimated)
Your final payment will be calculated using a court-approved plan of allocation that considers the purchase and sale dates of your ADSs.
For example, the alleged inflation applied to purchases during these periods:
June 30, 2011 – March 23, 2014: $1.00 per ADS
March 24, 2014 – Dec. 3, 2014: $0.71 per ADS
Dec. 4, 2014 – Dec. 7, 2014: $0.48 per ADS
Dec. 8, 2014 – Oct. 29, 2015: $0.31 per ADS
Oct. 30, 2015 – Nov. 2, 2015: $0.23 per ADS
Nov. 3, 2015: $0.00 per ADS
The settlement administrator will calculate each investor’s recognized loss based on these values and their trading history.
Your Options
| Your Option | What It Means | Deadline |
|---|---|---|
| File a Claim | Submit a claim form to receive a settlement payment if you qualify. | April 28, 2026 |
| Exclude Yourself (Opt Out) | Remove yourself from the settlement and keep the right to sue separately. | April 28, 2026 |
| Do Nothing | You won’t receive a payment and will give up the right to sue about the claims. | — |
| Object | Tell the court why you disagree with the settlement terms. | Follow the instructions |
The final approval hearing is scheduled for May 19, 2026.
How to File a Claim?
To submit a claim, you’ll need to provide detailed records of your Veon ADS transactions, including:
Number of ADSs held at the start of trading on June 30, 2011
Each purchase or acquisition between June 30, 2011, and Nov. 3, 2015
Each sale during that same period
Number of ADSs held at the close of trading on Nov. 3, 2015
You must also provide documentation such as:
Broker confirmation slips
Brokerage account statements
Other records showing your transactions
You’ll also need to include your Social Security number or taxpayer identification number.
Claims can be submitted online or by mail to the settlement administrator.
Mailing address:
Veon Ltd. Securities Litigation
c/o Strategic Claims Services
600 N. Jackson St., Ste. 205
P.O. Box 230
Media, PA 19063
When Will Payments Be Sent?
Payments will be distributed after the court grants final approval and any appeals are resolved. This process can take several months or longer.
If you purchased Veon Ltd. ADSs between June 30, 2011, and Nov. 3, 2015, and held them through March 12, 2014, you may be eligible for a share of this $19.97 million settlement.
Submit your claim by April 28, 2026, to be considered for payment.
