Carrols Restaurant Group Stockholders to Receive $18.2M Settlement

A $18.2 million cash settlement has been reached in the class action lawsuit involving the acquisition of Carrols Restaurant Group, Inc. by Restaurant Brands International. The agreement, pending court approval, compensates shareholders who held stock at the time of the May 2024 merger closing.

Corp and Tech·October 5, 2026·reads: 211

Carrols Restaurant Group Stockholders to Receive $18.2M Settlement

The Delaware Court of Chancery has preliminarily certified the class action, which names Restaurant Brands International Inc., Matthew Perelman, and Alexander Sloane as defendants. The lawsuit, brought by Plymouth County Retirement Association and individual investors, alleges grievances related to the $9.55 per share buyout that concluded on May 16, 2024.

Vice Chancellor J. Travis Laster is scheduled to preside over a settlement hearing on November 23, 2026. The court will evaluate the fairness of the $18.2 million fund and determine the final allocation of proceeds to eligible stockholders. If the settlement receives judicial approval, payments will be distributed on a pro rata basis to all qualified shareholders without requiring the submission of individual claim forms.

Parties wishing to object to the terms or the proposed fee awards must file their formal submissions with the Register in Chancery by November 9, 2026. Detailed information regarding the settlement, including the full notice and exclusion criteria, is available through the designated litigation website or the appointed settlement administrator.