LOS ANGELES, Dec. 9, 2010 /PRNewswire/ -- The following statement is being issued by Glancy Binkow & Goldberg LLP regarding the Conseco, Inc. Securities Litigation.
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT INDIANA INDIANAPOLIS DIVISION
FRANZ SCHLEICHER, et al., Plaintiffs, -against- GARY C. WENDT, WILLIAM J. SHEA, CHARLES B. CHOKEL and JAMES S. ADAMS, Defendants. No. 02 CV 1332 TWP-TAB; SUMMARY NOTICE
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR ACQUIRED CONSECO, INC. COMMON STOCK BETWEEN APRIL 24, 2001 AND AUGUST 9, 2002.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of Indiana, that a hearing will be held on February 17, 2011 at 9:00 a.m., before The Honorable Tanya W. Pratt, at the Birch Bayh Federal Building and United States Courthouse, 46 East Ohio Street, Indianapolis, IN 46204 for the purpose of determining (1) whether the proposed Settlement of the claims in the Action for the sum of $41,465,000 in cash should be approved by the Court as fair, reasonable and adequate to Members of the Class; (2) whether, thereafter, this Action should be dismissed with prejudice pursuant to the terms and conditions set forth in the Settlement Agreement dated as of October 12, 2010; (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 Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with this Action and reimbursement of Class Representatives' reasonable costs and expenses (including lost wages) directly related to their representation of the Class should be approved.
If you purchased or acquired Conseco, Inc. common stock between April 24, 2001, and August 9, 2002, your rights may be affected by this Settlement. If you have not received a detailed Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees and Settlement Fairness Hearing ("Notice") and a copy of the Proof of Claim and Release, you may obtain copies by writing to Conseco Inc. Securities Litigation, c/o The Garden City Group, Inc., P.O. Box 9670, Dublin, OH 43017-4970, or you can download a copy at www.gcginc.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 postmarked no later than March 23, 2011, establishing that you are entitled to recovery.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed below:
SOURCE Glancy Binkow & Goldberg LLP