Summary Notice Of Proposed Settlement Of Class Action, Certification Of Settlement Class, Final Approval Hearing, And Motion For Attorneys' Fees And Reimbursement Of Litigation Costs

14 Mar, 2016, 16:32 ET from Berger & Montague, P.C.

PHILADELPHIA, March 14, 2016 /PRNewswire/ -- The following statement is being issued by Berger & Montague, P.C. regarding the Hudson Mezzanine Funding securities class action settlement.

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
DODONA I, LLC, on Behalf of Itself and All Others Similarly Situated, Plaintiff, v. GOLDMAN, SACHS & CO., et al., Defendants.
Case No. 10 Civ. 7497 (VM)(DCF) ECF Case Class Action

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, FINAL APPROVAL HEARING, AND MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION COSTS

To:  All persons and entities who, from their Initial Offering through February 16, 2016, purchased or otherwise acquired any of the following notes (the "Hudson CDO Notes") issued or co-issued by Hudson Mezzanine Funding 2006-1, Ltd. or Hudson Mezzanine Funding 2006-1, Corp. (the "Hudson 1 CDO") or Hudson Mezzanine Funding 2006-2, Ltd. or Hudson Mezzanine Funding 2006-2, Corp. (the "Hudson 2 CDO"), and were damaged thereby (notwithstanding the existence of any indemnification, hedge or other provision that may have reduced or offset such damages in whole or in part)  (the "Settlement Class"):

Hudson 1 CDO
Security
CUSIP
Class S
443860AA9
G46464AA4

Class A-f
443860AB7
G46464AB2

Class A-b
443860AC5
G46464AC0

Class B
443860AD3
G46464AD8

Class C
443860AE1
G46464AE6

Class D
443860AF8
G46464AF3

Class E
443860AG6
G46464AG1

Income Notes
44386PAA4
G46429AA7
44386PAB2

Hudson 2 CDO
Security
CUSIP

Class S
44386QAA2
G46539AA3

Class A-1
44386QAB0
G46539AB1

Class A-2
44386QAC8
G46539AC9

Class B
44386QAD6
G46539AD7

Class C
44386QAE4
G46539AE5

Class D
44386QAF1
G46539AF2

Class E
44386NAC5
G46539AB5

Income Notes
44386NAA9
G46539AA7
44386NAB7

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York (the "Court"), of the pendency of this class action (the "Action") asserting claims against Goldman, Sachs & Co., The Goldman Sachs Group, Inc., Peter L. Ostrem and Darryl K. Herrick (the "Defendants") relating to the Hudson CDO Notes; and that a settlement of the Action for a total payment to the Settlement Class of $27.5 million, plus accrued interest (the "Settlement") has been proposed. A hearing will be held on June 17, 2016, at 9:30 a.m., before the Honorable Victor Marrero, at the United States District Court for the Southern District of New York, 500 Pearl Street, New York, New York 10007, Courtroom 11B, for the purpose of determining: (1) whether the proposed Settlement should be approved by the Court as fair, reasonable and adequate; (2) whether a Final Judgment and Order should be entered by the Court dismissing the Action with prejudice; (3) whether the Plan of Allocation to distribute the net settlement proceeds to eligible Settlement Class members should be approved; (4) whether the application by Settlement Class Lead Counsel for payment of attorneys' fees and reimbursement of costs and expenses incurred in prosecuting this Action should be approved; and (5) to rule upon such other matters as the Court may deem appropriate.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THE ACTION, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT.  If you have not received the Notice of Proposed Settlement of Class Action, Certification of Settlement Class, Final Approval Hearing, and Motion for Attorneys' Fees and Reimbursement of Litigation Costs (the "Notice"), which more completely describes the Settlement and Settlement Class members' rights, or a copy of the Proof of Claim and Release Form ("Proof of Claim"), you may obtain copies of these documents by writing to the Claims Administrator, Heffler Claims Group LLC, 1515 Market Street - Suite 1700, Philadelphia, PA 19102, or by calling 1-855-711-8800 or via the internet at http://www.hefflercases.com/cases/don. If you are a member of the Settlement Class, in order to share in the distribution of the Settlement, you must submit a Proof of Claim postmarked no later than June 29, 2016, establishing that you are entitled to recovery. If you desire to be excluded from the Settlement Class, you must submit a Request for Exclusion postmarked by May 27, 2016, in the manner and form explained in the detailed Notice referred to above. All members of the Settlement Class who have not timely and validly requested exclusion from the Settlement Class will be bound by any Judgment entered in the Action, whether or not you submit a Proof of Claim. Any objections to the proposed Settlement, Plan of Allocation, and/or the application for attorneys' fees and expenses by Plaintiff's Lead Counsel, must be filed with the Court and delivered to Lead Counsel and counsel for Defendants such that they are received no later than May 27, 2016, in accordance with the instructions set forth in the Notice. If you are a member of the Settlement Class and do not submit a proper Proof of Claim, you will not share in the Settlement but you will nevertheless be bound by the Judgment of the Court.

Inquiries, other than requests for the Notice and Proof of Claim which should be directed to the Claims Administrator, may be made to Plaintiff's Lead Counsel:  Merrill G. Davidoff or Lawrence J. Lederer, Berger & Montague, P.C., 1622 Locust Street, Philadelphia, Pennsylvania, 19103-6305; Telephone: (215) 875-3000; Toll-Free: (800) 424-6690; Fax: (215) 875-4604; mdavidoff@bm.net or llederer@bm.net.

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

Dated: March 14, 2016                          
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK

 

SOURCE Berger & Montague, P.C.