Raider v Archon Corporation Preferred Stock Settlement
The amount per share depends on how many of approximately 1.4 million shares file valid claims. Up to $50,000 may be awarded to class representative Dan Raider as incentive awards.
This settlement is closed to new claims. You can still see what it was about and follow the case in court below. Looking for money you can still claim? Browse open settlements →
What happened
Investors who held Archon Corporation exchangeable redeemable preferred stock sued the company. The two sides disagreed on whether investors could have won at trial and how much they could have recovered. Both sides concluded that settling was better than continuing the risky litigation.
Do you qualify?
Anyone who owned or held Archon exchangeable redeemable preferred stock at the close of business on August 31, 2007. Excluded are Archon Corporation, Paul W. Lowden, Suzanne Lowden, and officers or directors of Archon or named plaintiffs in four other previously settled cases.
How to file
Claims are no longer being accepted. All distributions have been completed and the case is closed. If you believe you were entitled to compensation but did not receive funds, check the Nevada unclaimed funds website at www.nevadatreasurer.gov or contact the claims administrator at 1-888-551-9712.
Common questions
- How much does the Raider v Archon Corporation Preferred Stock Settlement pay?
- Estimated payout: The amount per share depends on how many of approximately 1.4 million shares file valid claims. Up to $50,000 may be awarded to class representative Dan Raider as incentive awards.. The total settlement fund is $9.2M. Actual amounts depend on how many valid claims are filed — most settlements divide a fixed fund pro rata, so a higher claim rate means a smaller individual check. An "up to" figure is a cap, not a guarantee.
- Is the Raider v Archon Corporation Preferred Stock Settlement notice real, or a scam?
- JND Legal Administration is the settlement administrator for this case. Claims are filed at archonpreferredclassaction.com. Filing a class action claim is always free — no legitimate settlement charges you to claim, and no administrator will ask for payment, a gift card, or your full Social Security number by email or text. If a notice asks for any of those, it is not from the administrator. When in doubt, ignore the link you were sent and go to the official settlement website directly.
- When will payments from the Raider v Archon Corporation Preferred Stock Settlement be sent?
- Class action payouts typically take 12 to 24 months after the claim deadline, and longer if the settlement is appealed. Payments cannot be issued until the court grants final approval and any appeals are resolved.
New to class actions?
This summary was generated from public settlement documents and may contain errors. Confirm eligibility, deadlines, and payment terms on the official settlement website before filing. ClaimWatch is not a law firm and this is not legal advice. Filing a claim is free.
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