Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Triad Securities Litigation

Dec 29, 2015, 11:30 ET from Robbins Geller Rudman & Dowd LLP

GREENSBORO, N.C., Dec. 29, 2015 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Triad Securities Litigation:

UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF NORTH CAROLINA
No. 1:09-cv-00071-NCT-JLW

JAMES L. PHILLIPS, Individually and on Behalf of
All Others Similarly Situated,
                    Plaintiff,
    
vs.
TRIAD GUARANTY INC., et al.,
                    
Defendants.

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CLASS ACTION

SUMMARY NOTICE

TO:     ALL PERSONS WHO PURCHASED TRIAD GUARANTY INC. ("TRIAD") COMMON STOCK BETWEEN OCTOBER 26, 2006 AND APRIL 1, 2008, INCLUSIVE

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Middle District of North Carolina, a hearing will be held on March 21, 2016, at 10:00 a.m., before the Honorable N. Carlton Tilley, Jr., Senior United States District Judge, at the United States District Court for the Middle District of North Carolina, 324 West Market Street, Greensboro, NC 27401, for the purpose of determining: (1) whether the settlement of the Litigation set forth in the Stipulation of Settlement dated October 5, 2015 ("Stipulation" or "Settlement") for the sum of $1,600,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether the Plan of Allocation of Settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (3) the reasonableness of the application of Lead Counsel and Lead Plaintiff for the payment of attorneys' fees and expenses incurred in connection with this Litigation, together with interest thereon.

If you purchased Triad common stock between October 26, 2006 and April 1, 2008, inclusive, your rights may be affected by this Litigation and the Settlement thereof.  If you have not received a detailed Notice of Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Triad Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA  94912-8040, by calling toll-free (855) 278-2821, or by downloading this information at www.triadsecuritieslitigation.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form by mail or online no later than March 21, 2016, establishing that you are entitled to a recovery.  You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, to the above address, postmarked by February 19, 2016.

Any objection to the Settlement must be filed with the Clerk of the Court and received by counsel listed below no later than February 19, 2016:

Lead Counsel
ROBBINS GELLER RUDMAN
   & DOWD LLP
JEFFREY D. LIGHT
655 West Broadway, Suite 1900
San Diego, CA  92101

Defendants' Counsel
RICHARD A. ROSEN
PAUL, WEISS, RIFKIND, WHARTON
& GARRISON LLP
1285 Avenue of the Americas
New York, NY  10019

PLEASE DO NOT CONTACT THE COURT OR
THE CLERK'S OFFICE REGARDING THIS NOTICE.

DATED:  December 7, 2015

BY ORDER OF THE COURT

UNITED STATES DISTRICT COURT

MIDDLE DISTRICT OF NORTH CAROLINA

 

SOURCE Robbins Geller Rudman & Dowd LLP



RELATED LINKS

http://www.triadsecuritieslitigation.com