Partial Settlement Proposed in Class Action Involving Hedge Funds Operated By The Fairfield Greenwich Group
NEW YORK, Dec. 21, 2012 /PRNewswire-USNewswire/ -- The following is being released pursuant to Order of the District Court for the Southern District of New York in Anwar v. Fairfield Greenwich Limited, 1:09-cv-00118 (VM).
TO: All beneficial owners of shares or limited partnership interests in Fairfield Sentry Limited, Fairfield Sigma Limited, Fairfield Lambda Limited, Greenwich Sentry, L.P. and Greenwich Sentry Partners, L.P. (collectively, the "Funds") as of December 10, 2008 (whether as holders of record or traceable to a shareholder or limited partner account of record) ("Beneficial Owners"), who suffered a Net Loss of principal invested in the Funds (collectively, the "Settlement Class"). If you meet the above class definition, you could get a payment from a class action settlement.
A federal court authorized this Notice. This is not a solicitation from a lawyer.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on March 22, 2013, at 11:00 a.m., before The Honorable Victor Marrero, at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, New York (the "Court"), for the purpose of determining (1) whether the proposed partial settlement of claims in the above-captioned Action for consideration including the sum of $50,250,000 in cash, plus an additional $30,000,000 that may be distributed subject to certain conditions, should be approved by the Court as fair, reasonable and adequate; (2) whether this Action should be dismissed with prejudice as to the FG Defendants pursuant to the terms and conditions set forth in the Stipulation dated as of November 6, 2012, as amended by the Amendment to the Stipulation of Settlement dated as of December 12, 2012; (3) whether the proposed plan to distribute the settlement proceeds (the "Plan of Allocation") is fair, reasonable and adequate and therefore should be approved; and (4) whether the application of Plaintiffs' Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with this Action and reimbursement of the Representative Plaintiffs' reasonable costs and expenses (including lost wages) directly related to their representation of the Settlement Class should be approved.
If you were a Beneficial Owner of shares or limited partnership interests in one or more of the Funds as of December 10, 2008 and suffered a Net Loss in principal on your investment in those shares or limited partnership interests, your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in the Funds. Net Loss means the total cash investment made by a Beneficial Owner in a Fund, directly or indirectly through one or more intermediaries, less the total amount of any redemptions or withdrawals or recoveries by that Beneficial Owner from or with respect to the same Fund.
If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form that is received no later than April 17, 2013, establishing that you are entitled to recovery.
If you desire to be excluded from the Settlement Class, you must submit a request for exclusion to Fairfield Greenwich Securities Litigation, c/o Rust Consulting, Inc., P.O. Box 2874, Faribault, MN 55021-8674 so that it is received by February 15, 2013. Any objection to any aspect of the Settlement must be filed with the Court, Plaintiffs' Counsel Designee and Settling Defendants' Counsel Designee, no later than February 15, 2013.
If you wish to receive a detailed Notice concerning the terms of the Settlement or the Proof of Claim and Release form, you may obtain copies by writing to Fairfield Greenwich Securities Litigation, c/o Rust Consulting, Inc., P.O. Box 2874, Faribault, MN 55021-8674, or by visiting www.FairfieldGreenwichLitigation.com.
Do not telephone the Court, the Clerk's Office or any of the Defendants or Counsel for the Defendants regarding this notice.
DATED: December 21, 2012
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
SOURCE Rust Consulting, Inc.