Notice of Class Certification and Proposed Settlement with Remaining Senior Notes Underwriter Defendants in the MF Global Holdings Limited Securities Litigation

NEW YORK, April 21, 2016 /PR Newswire/ -- The following statement is being issued by Bernstein Litowitz Berger & Grossmann LLP and Bleichmar Fonti & Auld LLP regarding the In re MF Global Holdings Limited Securities Litigation

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

IN RE MF GLOBAL HOLDINGS LIMITED SECURITIES LITIGATION
THIS DOCUMENT RELATES TO: All Securities Actions (DeAngelis v. Corzine)

Civil Action No. 1:11-CV-07866-VM, ECF CASE

SUMMARY NOTICE OF (I) CERTIFICATION OF CLASS; (II) PROPOSED SETTLEMENT WITH THE REMAINING SENIOR NOTES UNDERWRITER DEFENDANTS; (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF EXPENSES; AND (IV) SETTLEMENT FAIRNESS HEARING

TO: All persons who and entities which purchased or otherwise acquired MF Global 6.25% Senior Notes (CUSIP 55277JAC2) between August 8, 2011 and November 21, 2011 (including persons who and entities which placed orders before August 8, 2011) and were damaged thereby (the "Class")

PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned litigation (the "Action") has been certified as a class action with respect to claims asserted against Jefferies LLC, BMO Capital Markets Corp., Natixis Securities Americas LLC, Lebenthal & Co., LLC, and U.S. Bancorp Investments, Inc. (the "Remaining Senior Notes Underwriter Defendants") on behalf of the Class, except for certain persons and entities who are excluded from the Class by definition as set forth in the full printed Notice of (I) Certification of Class; (II) Proposed Settlement with the Remaining Senior Notes Underwriter Defendants; (III) Motion for an Award of Attorneys' Fees and Reimbursement of Expenses; and (IV) Settlement Fairness Hearing (the "Notice").

YOU ARE ALSO NOTIFIED that Settling Plaintiffs in the Action have reached a proposed partial settlement of the Action for $29,825,000 in cash (the "Settlement"), that, if approved, will resolve all claims asserted against the Remaining Senior Notes Underwriter Defendants in the Action.¹ The claims asserted against the Remaining Senior Notes Underwriter Defendants are the only remaining claims in this Action in the District Court and, thus, if the Settlement is approved the Action will be completely resolved subject to any appeals. 

A hearing will be held on July 15, 2016 at 11:00 a.m., before the Honorable Victor Marrero at the United States District Court for the Southern District of New York, Courtroom 11B of the United States Courthouse, 500 Pearl Street, New York, NY 10007 to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice as against the Remaining Senior Notes Underwriter Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement with Defendants Jefferies LLC, BMO Capital Markets Corp., Natixis Securities Americas LLC, Lebenthal & Co., LLC, and U.S. Bancorp Investments dated March 9, 2016 (the "Stipulation") (and in the Notice) should be granted; and (iii) whether Co-Lead Counsel's application for an award of attorneys' fees and reimbursement of litigation expenses should be approved.

If you are a member of the Class, your rights will be affected by the proposed Settlement and any orders or judgments related to the Settlement, and you may be entitled to share in the Settlement Fund.  If you have not yet received the Notice, you may obtain a copy by contacting the Claims Administrator at In re MF Global Holdings Limited Securities Litigation, c/o Garden City Group, LLC, P.O. Box 10164, Dublin, OH 43017-3164, 1‑877-940-5045.  The Plan of Allocation that was approved by the Court in connection with the earlier settlements will be applied to this proposed Settlement.  Copies of the plan and of the Proof of Claim Form were mailed in conjunction with the earlier settlements.  Copies of the Notice, the Plan of Allocation and the Proof of Claim Form ("Claim Form") are available at www.MFGlobalSecuritiesClassAction.com. 

If you are a member of the Class, and previously submitted a Claim Form in connection with the previously announced settlements in the Action, do not do so again.  Unless you properly exclude yourself from the Class, your earlier Claim Form will be considered for participation in the Settlement.  If you are a Class Member and did NOT submit a Claim Form in connection with the earlier announced settlements, in order to be eligible to share in the distribution of the Net Settlement Fund (as defined in the Stipulation and the Notice) from the Settlement you must submit a Claim Form postmarked no later than June 7, 2016.  If you are a member of the Class and have not previously submitted a Claim Form and do not now submit a Claim Form postmarked on or before June 7, 2016, you will not be eligible to share in the proceeds of the Settlement but you will nevertheless be bound by the judgments of the Court.  If you require a Claim Form, it may be obtained from the Claims Administrator or you can download a copy from the website noted above.

If you are a member of the Class and wish to exclude yourself from the Class, you must submit a written request for exclusion such that it is received no later than June 17, 2016, in accordance with the instructions set forth in the Notice.  If you properly exclude yourself from the Class, you will not be bound by any judgments or orders entered by the Court in the Action, and you will not be eligible to share in the proceeds of the Settlement or any other recoveries that might be obtained in the Action.

Any objections to the proposed Settlement or Co-Lead Counsel's motion for attorneys' fees and reimbursement of litigation expenses must be filed with the Court and delivered to Co-Lead Counsel and the Remaining Senior Notes Underwriter Defendants' Counsel such that they are received no later than June 17, 2016, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, the Remaining Senior Notes Underwriter Defendants or their counsel regarding this notice.  All questions about this notice or the proposed Settlement should be directed to Co-Lead Counsel or the Claims Administrator.

Inquiries, other than requests for the Notice, Plan of Allocation or Claim Form should be made to Co‑Lead Counsel:

BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
Salvatore J. Graziano, Esq.
1251 Avenue of the Americas
New York, NY 10020
(800) 380-8496
[email protected]

or

BLEICHMAR FONTI & AULD LLP
Javier Bleichmar, Esq.
7 Times Square, 27^th Floor
New York, NY 10036
(212) 789-1341
[email protected]

Requests for the Notice, Plan of Allocation or Claim Form:

In re MF Global Holdings Limited Securities Litigation   
c/o Garden City Group, LLC
P.O. Box 10164
Dublin, OH 43017-3164
(877) 940-5045
www.MFGlobalSecuritiesClassAction.com

By Order of the Court

¹ The proposed settlement is in addition to four other partial settlements previously approved by the Court resulting an aggregate recovery of approximately $204.4 million total for investors in MF Global Securities (as defined in the Notice).  These settlements were: (i) a settlement with certain Underwriter Defendants for $74,000,000 in cash; (ii) a settlement with defendant Commerz Markets LLC for $932,828 in cash; (iii) a settlement with PricewaterhouseCoopers LLP for $65,000,000 in cash; and (iv) a settlement with certain former officers and defendants of MF Global for $64,500,000 in cash.  Notices of those settlements were previously disseminated to potential members of the settlement classes for those settlements.  Copies of those notices can be viewed and downloaded from www.MFGlobalSecuritiesClassAction.com. 

SOURCE Bernstein Litowitz Berger & Grossmann LLP; Bleichmar Fonti & Auld LLP

Related Links

http://www.MFGlobalSecuritiesClassAction.com