Kessler Topaz Meltzer & Check, LLP and Wolf Haldenstein Adler Freeman & Herz LLP Announce Proposed Class Action Settlement on Behalf of Purchasers of Thornburg Mortgage, Inc. Common and Preferred Stock
ALBUQUERQUE, N.M., May 30, 2012 /PRNewswire/ -- Kessler Topaz Meltzer & Check, LLP and Wolf Haldenstein Adler Freeman & Herz LLP announce the pendency and proposed settlement of class action litigation involving Thornburg Mortgage, Inc. (PINK: THMRQ).
UNITED STATES DISTRICT COURT, DISTRICT OF NEW MEXICO
IN RE THORNBURG MORTGAGE, INC. SECURITIES LITIGATION
Case No. CIV 07-815JB/WDS
TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THORNBURG MORTGAGE, INC. COMMON STOCK AND/OR PREFERRED STOCK IN THE OPEN MARKET AND/OR IN OR TRACEABLE TO THE OFFERINGS DURING THE PERIOD BETWEEN APRIL 19, 2007 AND MARCH 19, 2008, INCLUSIVE AND WHO WERE DAMAGED THEREBY (THE "CLASS").
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the above-mentioned action ("Litigation") has been certified as a class action for purposes of settlement only and that a settlement for Two Million Dollars ($2,000,000) has been proposed ("Settlement"). A hearing will be held before the Honorable James O. Browning in the United States District Court for the District of New Mexico, United States Courthouse, 333 Lomas Blvd. N.W., Albuquerque, New Mexico 87102, 460 Vermejo Courtroom, at 9:00 a.m. (Mountain Time), on August 27, 2012 to determine: (1) whether the proposed Settlement should be approved as fair, reasonable and adequate; (2) whether the Litigation should be dismissed with prejudice against the Settling Defendants; (3) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (4) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved. The Settlement only resolves claims against the Settling Defendants and the claims against the Non-Settling Defendants will continue.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action, Proposed Settlement, Settlement Fairness Hearing and Motion for Attorneys' Fees and Expenses ("Notice") and Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator: In re Thornburg Mortgage, Inc. Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 3, Media, PA 19063, (866) 274-4004. Copies of the Notice and Proof of Claim can also be downloaded from the Claims Administrator's website, www.strategicclaims.net.
If you are a member of the Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Proof of Claim postmarked no later than November 19, 2012. If you are a member of the Class and do not submit a proper Proof of Claim, you will not share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by the Order and Final Judgment of the Court.
To exclude yourself from the Class, you must submit a request for exclusion such that it is received no later than August 6, 2012, in accordance with the instructions set forth in the Notice. If you are a member of the Class and do not exclude yourself from the Class, you will be bound by the Order and Final Judgment of the Court. Any objections to the proposed Settlement, Plan of Allocation, and/or application for attorneys' fees and reimbursement of expenses must be filed with the Court and served on counsel for the parties on or before August 6, 2012, in accordance with the instructions set forth in the Notice.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the forms of the Notice and Proof of Claim, may be made to Lead Counsel:
Andrew L. Zivitz, Esq.
Benjamin J. Sweet, Esq.
Kessler Topaz Meltzer & Check, LLP
280 King of Prussia Road
Radnor, PA 19087
Betsy C. Manifold, Esq.
Patrick H. Moran, Esq.
Wolf Haldenstein Adler Freeman & Herz LLP
750 B Street, Suite 2770
San Diego, CA 92101
BY ORDER OF THE COURT
 The Settling Defendants are: Garrett Thornburg, Larry A. Goldstone, Clarence G. Simmons, Anne-Drue M. Anderson, David A. Ater, Joseph H. Badal, Eliot R. Cutler, Paul G. Decoff, Michael B. Jeffers, Ike Kalangis, Owen M. Lopez, Francis I. Mullin III, and Stuart C. Sherman.
SOURCE Kessler Topaz Meltzer & Check, LLP; Wolf Haldenstein Adler Freeman & Herz LLP