|
BASIC INFORMATION
<br /> 1.Why didjI:get this notice?
<br /> This class action, In re Municipal Derivatives Antitrust Litigation, is about the sale of municipal derivative transactions
<br /> (described below) in the United States and its territories from January 1,1992,to August 18,2011.You have been identified
<br /> as an entity that may have purchased one or more municipal derivative transactions that were sold during that time frame.If
<br /> you purchased a municipal derivative transaction from one or more of the Defendants or Alleged Co-Conspirators(Alleged
<br /> Co-Conspirators are identified in Question 4 below) or that was brokered by one or more of the Defendants or Alleged
<br /> Co-Conspirators, then you may be a member of the class conditionally certified by the Court for the purposes of these
<br /> Settlements (the"Class").
<br /> If you are eligible for benefits from these Settlements,you have a right to know about'it and about all of your options before
<br /> the Court decides whether to approve the Settlements.This notice describes the lawsuit,the Settlements,your legal rights,
<br /> what benefits are available,who is eligible for those benefits,and how to get them.In particular,you may be eligible to receive
<br /> a cash payment.
<br /> i
<br /> 2A" is:a class actior.;
<br /> A class actio is a lawsuit brought by one or more representative parties, called "Plaintiffs"or"Class Representatives,"on
<br /> behalf of themselves and other similarly situated entities or persons.(The Plaintiffs here are defined in Question 3,below.)
<br /> The members of this group are known collectively as a class.The parties being sued are called the defendants.The court
<br /> appoints attorneys, called "Class Counsel,"to represent the Plaintiffs and other members of the class. (Class Counsel are
<br /> defined in Question 20,below)Together,the Class Representatives,Class Counsel,and the Court share the responsibility
<br /> to ensure that the interests of all class members are adequately represented. The Court resolves the claims of all class
<br /> members except those who exclude themselves from the class.U.S.District Judge Victor Marrero of the U.S.District Court
<br /> for the Southern District of New York is in charge of supervising this class action.
<br /> When the Plaintiffs enter into a proposed settlement with a defendant,such as those with UBS AG,Societe Generale S.A.,
<br /> Natixis Funding Corp.,Piper Jaffray&Co.,National Westminster Bank Plc,and George K.Baum &Co.,in this case,the
<br /> Court must approve the settlement before it becomes final. Before the Court decides whether to grant approval,the class
<br /> members are'first given notice of the settlement and an opportunity to be heard about whether they want the settlement to
<br /> become final 11he Court then conducts a hearing,called a fairness hearing,to consider whether the proposed settlement is
<br /> fair,reasonable and adequate to the class.
<br /> Members of the class are not individually responsible to pay attorneys'fees or litigation expenses of Class Counsel.Instead,
<br /> attorneys'fees and litigation expenses are paid from a settlement(or a judgment if there has been a trial),and only after being
<br /> approved by tl e Court.
<br /> .:'i:,t`s::^c::.x� - - - '-•LSA'_
<br /> i I
<br /> The Plaintiffs;or Class Representatives,in this class action are the Mayor and City Council of Baltimore and the Central
<br /> Bucks School District.They allege that they purchased one or more municipal derivative transactions from January1,1992,
<br /> to August 18,2011,from or through one or more of the Defendants.
<br /> '4:
<br /> o�r f � -aA�- ��oco• °� - - -
<br /> ... vvh..
<br /> The Defendants and Alleged Co-Conspirators in this class action fall into two groups: (1) "Alleged Provider Defendants"
<br /> and "Alleged Provider Co-Conspirators,"which are financial institutions that sold the municipal derivative transactions to
<br /> members of the Class,and (2) "Alleged Broker Defendants"and "Alleged Broker Co-Conspirators,"which are companies
<br /> that brokeredlthe sales of municipal derivative transactions to members of the Class.
<br /> For purposes of determining who is a member of the Class,Defendants and Alleged Co-Conspirators include those named
<br /> or that could have been named in In re Municipal Derivatives Antitrust Litigation,MDL No. 1950,Master Docket No.08-
<br /> 02516 (VM) (GWG),which is currently pending in the U.S.District Court for the Southern District of New York,and all
<br /> of the actions filed in or transferred to the U.S. District Court for the Southern District of New York for coordination or
<br /> consolidation'with MDL No. 1950 (a complete list is available at www.Municii2alDerivativesSetdement.com).In addition
<br /> to UBS AG, Societe Generale S.A., Natixis Funding Corp., Piper Jaffray & Co., National Westminster Bank Plc, and
<br /> George K.Baum &Co.,the following entities are Defendants or Alleged Co-Conspirators in the lawsuit:
<br /> 67
<br /> -3 -
<br />
|