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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
Creation date
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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Only U.S. Dollar LIBOR -based instruments that were sold in over-the-counter transactions (OTC <br />transactions) are included in the Settlement. <br />The Settlement does not include U.S. Dollar LIBOR -based instruments that include only a term, provision, or <br />obligation or right to pay interest based on the U.S. Dollar LIBOR rate, such as business, home, student, or <br />car loans or credit cards. <br />If you are not sure whether you are included in the Settlement, you may call 1-888-568-7640 with questions <br />or visit www.BarclaysLiborSettlement.com. You may also write with questions to U.S. Dollar LIBOR, P.O. <br />Box 2602, Faribault, MN 55021-9602 or email info@BarclaysLiborSettlement.com: <br />THE SETTLEMENT BENEFITS <br />The Settlement will create a $120 million Settlement Fund that will be used to pay eligible Class Members <br />who submit valid claims. The cost to administer the Settlement, attorney fees, and payment to the Class <br />Representatives will come out of the Settlement Fund (see Question 21). Additionally, Barclays will <br />cooperate with the Plaintiffs in their ongoing litigation against the Non -Settling Defendants. <br />More details are in a document called the Settlement Agreement, which is available at <br />www.BarclaysLiborSettlement.com. <br />. :t mu J will my payment <br />The Settlement Fund will be distributed to Settlement Class Members pro rata, in.proportion to a reasonable <br />estimate of their damages, after deduction of any fees and expenses (see Question 21). This distribution will <br />be made- pursuant to a Plan of Distribution, which has been submitted to the Court in advance of the final <br />approval hearing, and made available at www.BarclaysLiborSettlement.com. The Plan of Distribution <br />provides that each Class Member will receive a pro rata distribution, based on how much less the Class <br />Member was paid during the Class Period as a result of the alleged suppression. A chart showing the <br />applicable amount of suppression during the Class Period is available on the website, and is based on expert <br />modelling the Plaintiffs' have used in support of the litigation. Class Members will have the option to <br />comment on or object to any portion of the Plan of Distribution at the Fairness Hearing. The Settlement <br />Agreement will remain in place if the Court rejects or alters the proposed Plan of Distribution. <br />en>.vvll;i receive my payment? <br />Class Members who are entitled to payments will receive their payments after the Court grants final approval <br />to the Settlement and after any appeals are resolved (see "The Fairness Hearing" below). If there are <br />appeals, resolving them can take time. Please be patient. <br />QUESTIONS? CALL 1-888- 568-7640 OR VISIT WWW.BARCLAYSLIBORSETTLEMENT.COM <br />-6- <br />P165 <br />
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