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09/12/2017 (3)
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09/12/2017 (3)
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10/26/2017 4:00:46 PM
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10/26/2017 2:45:41 PM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
09/12/2017
Meeting Body
Board of County Commissioners
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• Societe Generale S.A.; and <br />• Royal Bank of Canada ("RBC"). <br />e „ <br />Yes. There are many cases that have been consolidated as a multi -district litigation ("MDL") in the U.S. <br />District Court for the Southern District of New York, entitled: In re LIBOR Financial Instruments Litigation, <br />1 I -MD-2262. This Settlement is made with Plaintiffs in the OTC Action only. <br />bJisa <br />aw4Ottnic?„ <br />In a class action, one or more people called "Class Representatives" sue on behalf of themselves and other <br />people with similar claims. All of these people together are the "class" or "class members." In this <br />Settlement, the Class Representatives are: the Mayor and City of Baltimore; City of New Britain; Texas <br />Competitive Electric Holdings Company LLC; Yale University; Jennie Stuart Medical Center, Inc.; Variety <br />Children's Hospital doing business as Miami Children's Hospital; Highlander Realty LLC; and SEIU <br />Pension Plans Master Trust. One court resolves the issues for all Class Members, except for those who <br />exclude themselves from the OTC Class. <br />The Court has not decided in favor of the Plaintiffs or Barclays. Instead, the Parties have engaged in lengthy <br />negotiations, and Plaintiffs and Barclays have agreed to a Settlement. By agreeing to settle, the Parties avoid <br />the costs and uncertainty of a trial, and the people affected will get a chance to receive compensation. The <br />Class Plaintiffs and their attorneys think the Settlement is best for all OTC Class Members. The proposed <br />Settlement does not mean that any law was broken or that Barclays did anything wrong. <br />WHO Is IN THE SETTLEMENT? <br />If you received mailed notice of the Settlement, then you may be a Class Member. But even if you did not <br />receive a notice, you may be a Class Member, as described below. <br />OltiltiFiarninVnit nkthe gettlin'4it?'• <br />You are included in the Settlement if you (individual or entity): <br />• Directly purchased certain U.S. Dollar LIBOR -based instruments (see Question 8); <br />• From Barclays or any Non -Settling Defendant (or their subsidiaries or affiliates) (see Question 2); <br />• In the United States; and <br />• Owned the instruments at any time between August 2007 and May 2010. <br />You are not a member of the Class, even if you meet the above criteria, if you are: <br />• One of the Non -Settling Defendants, Released Parties, or alleged co-conspirators or their employees, <br />officers, or directors; <br />• One of the Non -Settling Defendants', Released Parties', or alleged co-conspirators' parent <br />companies, subsidiaries, affiliates, legal representatives, heirs, assigns, or any person acting on their <br />behalf; <br />• An entity in which any Non -Settling Defendants, Released Parties, or alleged co-conspirators have a <br />controlling interest; or <br />A judicial officer presiding over this action or his/her immediate family member or are a judicial <br />staff member or juror assigned to the OTC Action. <br />QUESTIONS? CALL 1-888-568-7640 OR VISIT WWW.BARCLAYSLIBORSETTLEMENT.COM <br />- 4 - <br />P163 <br />
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