Proposed Settlement with Certain Underwriter Defendants in the In re MF Global Holdings Limited Securities Litigation

NEW YORK, April 9, 2015 /PRNewswire/ -- The following statement is being issued by Bernstein Litowitz Berger & Grossmann LLP and Bleichmar Fonti Tountas & 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, Civil Action No. 1:11-CV-07866-VM

THIS DOCUMENT RELATES TO: All Securities Actions, (DeAngelis v. Corzine), ECF CASE

SUMMARY NOTICE OF (I) CERTIFICATION OF SETTLEMENT CLASS;
(II) PROPOSED SETTLEMENT WITH CERTAIN UNDERWRITER DEFENDANTS;
AND (III) SETTLEMENT FAIRNESS HEARING

TO: All persons and entities who or which, during the period beginning on May 20, 2010 through and including November 21, 2011, purchased or otherwise acquired MF Global Settling Underwriter Securities¹ and were damaged thereby (the "Underwriter Settlement 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 for the purposes of settlement only on behalf of the Underwriter Settlement Class, except for certain persons and entities who are excluded from the Underwriter Settlement Class by definition as set forth in the full printed Notice of (I) Certification of Settlement Class; (II) Proposed Settlement with Certain Underwriter Defendants; and (III) Settlement Fairness Hearing (the "Underwriter Notice").

YOU ARE ALSO NOTIFIED that Lead Plaintiffs in the Action have reached a proposed partial settlement of the Action for $74,000,000 in cash (the "Underwriter Settlement"), that, if approved, will resolve all claims asserted against certain of the underwriter defendants in the Action.  A complete list of the Settling Underwriter Defendants is set forth in the Underwriter Notice.  The proposed Underwriter Settlement does not resolve any claims against the other Defendants in the Action, which is continuing to be litigated.

A hearing will be held on June 26, 2015 at 9:30 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 Underwriter Settlement should be approved as fair, reasonable, and adequate; and (ii) whether the Action should be dismissed with prejudice as against the Settling Underwriter Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement with Certain Underwriter Defendants dated November 25, 2014 (and in the Underwriter Notice) should be granted. 

If you are a member of the Underwriter Settlement Class, your rights will be affected by the proposed Underwriter Settlement and any orders or judgments related to the Underwriter Settlement, and you may be entitled to share in the Underwriter Settlement Fund.  If you have not yet received the Underwriter Notice, you may obtain a copy by contacting the Notice Administrator at In re MF Global Holdings Limited Securities Litigation, c/o Garden City Group, LLC, P.O. Box 10164, Dublin, OH 43017-3164, or calling toll-free 1-877-940-5045.  Copies of the Underwriter Notice can also be downloaded from the website maintained by the Notice Administrator, www.MFGlobalSecuritiesClassAction.com.

A Proof of Claim Form is not being disseminated at this time.  To participate in the Underwriter Settlement, you will be required to submit a Proof of Claim Form that will be disseminated at a future date.  Many copies of the full notice are being forwarded to potential settlement class members through brokers and other nominees.  If you have not yet received the full Underwriter Notice by mail, or if you do not receive a copy in the mail in the next few weeks, please contact the Notice Administrator at the address above to request that you be added to its mailing list for the In re MF Global Holdings Limited Securities Litigation.  PLEASE NOTE: The Proof of Claim Form, when it becomes available, and other notices in the Action will be posted on the website referred to in the preceding paragraph.  Please check it periodically.

If you are a member of the Underwriter Settlement 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 May 29, 2015, in accordance with the instructions set forth in the Underwriter Notice.  If you properly exclude yourself from the Underwriter Settlement Class, you will also be excluded from any other classes that may be certified in the Action in which you would otherwise be a member, 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 Underwriter Settlement or any other recoveries that might be obtained in the Action.

Any objections to the proposed Underwriter Settlement must be filed with the Court and delivered to Co-Lead Counsel and Settling Underwriter Defendants' Counsel such that they are received no later than May 29, 2015, in accordance with the instructions set forth in the Underwriter Notice.

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

Inquiries, other than requests for the Underwriter Notice, should be made to Co‑Lead Counsel:         

BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
Salvatore J. Graziano, Esq.
1285 Avenue of the Americas
New York, NY 10019
(800) 380-8496
[email protected]

or        

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

Requests for the Underwriter Notice or to be added to the mailing list for future notices in the Action should be made to:

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 MF Global Settling Underwriter Securities are: MF Global common stock purchased in or traceable to the secondary offering pursuant to a Post-Effective Amendment No. 1 to Registration Statement No. 333-162119, dated February 24, 2010, a Preliminary Prospectus Supplement dated June 1, 2010, and a Final Prospectus supplement dated June 3, 2010 (CUSIP 55277J108); MF Global's 1.875% Convertible Senior Notes due February 1, 2016 issued on or about February 7, 2011 (CUSIP 55277JAA6); MF Global's 3.375% Convertible Senior Notes due August 1, 2018 issued on or about July 28, 2011 (CUSIP 55277JAB4); and MF Global's 6.25% Senior Notes due August 8, 2016 issued on or about August 1, 2011 (CUSIP 55277JAC2). 

SOURCE Bernstein Litowitz Berger & Grossmann LLP and Bleichmar Fonti Tountas & Auld LLP