Summary Notice of Pendency of Class Action and Proposed Settlement in re Michael Rubin v. MF Global, Ltd.

Sep 08, 2011, 13:29 ET from Barrack, Rodos & Bacine

NEW YORK, Sept. 8, 2011 /PRNewswire/ -- The following release was issued today by Barrack, Rodos & Bacine and Cohen Milstein Sellers & Toll PLLC:

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
Case No. 08 Civ. 2233 (VM)

MICHAEL RUBIN, Plaintiff, v. MF GLOBAL, LTD. (Ticker: MF), et al., Defendants.

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT

TO: ANY PERSON OR ENTITY, INCLUDING THEIR LEGAL REPRESENTATIVES, HEIRS, SUCCESSORS OR ASSIGNS, WHO PURCHASED OR OTHERWISE ACQUIRED MF GLOBAL COMMON STOCK PURSUANT OR TRACEABLE TO THE REGISTRATION STATEMENT AND PROSPECTUS ISSUED IN CONNECTION WITH THE COMPANY'S INITIAL PUBLIC OFFERING (THE "IPO") ON OR ABOUT JULY 19, 2007, AND WAS 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-captioned litigation ("Litigation") has been preliminarily certified as a class action for the purposes of settlement only and that a settlement with MF Global, Ltd. (n/k/a MF Global Holdings Ltd.), Man Group plc, Man Group UK Ltd., Kevin R. Davis, Amy S. Butte, Alison J. Carnwath, Christopher J. Smith, Christopher Bates, Henri J. Steenkamp, Edward L. Goldberg, Citigroup Global Markets Inc., J.P. Morgan Securities Inc. (n/k/a J.P. Morgan Securities LLC), Merrill Lynch, Pierce, Fenner & Smith, Incorporated, UBS Securities LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., Morgan Stanley & Co. Incorporated, ABN AMRO Rothschild LLC, Banc of America Securities LLC, BMO Capital Markets Corp., HSBC Securities (USA) Inc., Keefe, Bruyette & Woods, Inc., Sandler O'Neill & Partners, L.P., Wachovia Capital Markets, LLC, Blaylock & Co. Inc., Calyon Securities (USA) Inc. (n/k/a Credit Agricole Securities (USA) Inc.), Chatsworth Securities LLC, CL King & Associates, Inc., Dowling & Partners Securities, LLC, E*TRADE Securities LLC, Fortis Securities LLC, Guzman & Co., ING Financial Markets, LLC, Jefferies & Co., Inc., Lazard Capital Markets LLC, M.R. Beal & Co., Mizuho Securities USA Inc., Muriel Siebert & Co., Inc., Oppenheimer & Co. Inc., Piper Jaffray & Co., Raymond James & Associates, Inc., RBC Capital Markets Corp., Robert W. Baird & Co. Inc., Samuel A. Ramirez & Co., Inc., SMH Capital Inc. (n/k/a Sanders Morris Harris Inc.), Stifel, Nicolaus & Co., Inc., SunTrust Capital Markets, Inc. (n/k/a SunTrust Robinson Humphrey, Inc.), The Williams Capital Group, L.P., Utendahl Capital Partners, L.P., Wells Fargo Securities, LLC,  and William Blair & Co., LLC (collectively, the "Settling Defendants"), in the amount of $90,000,000 in cash has been proposed by the Settling Parties.

A hearing will be held before the Honorable Victor Marrero of the United States District Court for the Southern District of New York in the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 20B, New York, NY 10007-1312 at 1:30 p.m., on November 18, 2011 to, among other things: determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; determine whether the proposed Plan of Allocation for distribution of the settlement proceeds should be approved as fair and reasonable; and consider the application of Plaintiffs' Counsel for an award of attorneys' fees and reimbursement of litigation expenses.  The Court may change the date of the hearing without providing another notice.  

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING LITIGATION AND THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND.  If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement ("Notice") and a Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator:

RUBIN V. MF GLOBAL, LTD., ET AL.
CLAIMS ADMINISTRATOR
C/O A.B. DATA, LTD.
PO BOX 170500
MILWAUKEE, WI  53217-8042

Phone Within U.S. and Canada:  866-217-4456

Phone Outside U.S. and Canada:  414-961-6520

www.MFGlobalSettlement.com

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel.

BARRACK, RODOS & BACINE
Leslie B. Molder
Two Commerce Square, Suite 3300
2001 Market Street
Philadelphia, PA 19103
Tel: (215) 963-0600
www.barrack.com

COHEN MILSTEIN SELLERS & TOLL PLLC
Carol V. Gilden
190 S. LaSalle Street, Suite 1705
Chicago, IL 60603
Tel: (312) 357-0370
www.cohenmilstein.com

If you are a Class Member, to be eligible to share in the distribution of the Settlement proceeds, you must submit a Proof of Claim postmarked no later than December 27, 2011. To exclude yourself from the Class, you must submit a written request for exclusion such that it is received no later than October 28, 2011, or twenty-one (21) calendar days prior to the Settlement Hearing, whichever is later, in accordance with the instructions set forth in the Notice. If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Final Order and 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 Settling Parties such that they are received on or before October 28, 2011, or twenty-one (21) calendar days before the Settlement Hearing, whichever is later, in accordance with the instructions set forth in the Notice. If you are a Class Member and do not timely submit a valid Proof of Claim, you will not be eligible to share in the Net Settlement Fund, but you nevertheless will be bound by the Final Order and Judgment of the Court.

DATED: September 8, 2011

BY ORDER OF THE COURT

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

www.barrack.com

SOURCE Barrack, Rodos & Bacine