NEW YORK--()--Keller Rohrback L.L.P. and Kessler Topaz Meltzer & Check, LLP:
|UNITED STATES DISTRICT COURT|
|SOUTHERN DISTRICT OF NEW YORK|
|IN RE BEAR STEARNS COMPANIES||Master File No.: 08 MDL No. 1963 (RWS)|
|ERISA LITIGATION||ERISA Action: No. 08 Civ. 2804 (RWS)|
TO ALL MEMBERS OF THE FOLLOWING CLASS:
(A) ALL PERSONS, WHO HAVE BEEN PARTICIPANTS IN THE BEAR STEARNS COMPANIES INC. EMPLOYEE STOCK OWNERSHIP PLAN, OR THE PREDECESSORS OR SUCCESSORS THERETO, AT ANY TIME BETWEEN AUGUST 1, 2007 AND MARCH 20, 2012 AND WHOSE ACCOUNTS INCLUDED INVESTMENTS IN BEAR STEARNS STOCK, AND (B) AS TO EACH PERSON WITHIN THE SCOPE OF SUBSECTION (A) OF SECTION 1.45 OF THE SETTLEMENT AGREEMENT, HIS, HER, OR ITS BENEFICIARIES, ALTERNATE PAYEES, REPRESENTATIVES AND SUCCESSORS IN INTEREST; PROVIDED, HOWEVER, THAT, NOTWITHSTANDING THE FOREGOING, THE SETTLEMENT CLASS SHALL NOT INCLUDE ANY OF THE DEFENDANTS OR IMMEDIATE FAMILY MEMBERS OF THE DEFENDANTS, EXCEPT FOR IMMEDIATE FAMILY, BENEFICIARIES, ALTERNATE PAYEES, REPRESENTATIVES OR SUCCESSORS IN INTEREST WHO THEMSELVES ARE MEMBERS OF THE SETTLEMENT CLASS WITH RESPECT TO THEIR OWN PLAN ACCOUNTS (COLLECTIVELY, THE “SETTLEMENT CLASS”).
PLEASE READ THIS NOTICE CAREFULLY.
THIS IS A COURT-ORDERED LEGAL NOTICE.
THIS IS NOT A SOLICITATION.
YOU HAVE NOT BEEN SUED.
A proposed Settlement has been preliminarily approved by a federal court in the above-captioned class action lawsuit alleging breaches of fiduciary duties under the Employee Retirement Income Security Act of 1974, as amended (ERISA), in connection with the Plan identified above. The terms of the Settlement are contained in the Class Action Settlement Agreement, dated March 20, 2012 (the “Settlement Agreement”), a copy of which is available at www.BearStearnsERISAsettlement.com or by contacting Co-Lead Class Counsel identified below. Capitalized terms used in this Publication Notice and not defined herein have the meanings assigned to them in the Settlement Agreement.
The proposed Settlement provides for a payment of $10,000,000 (ten million dollars) to settle all claims against all Defendants. Under the proposed Settlement, the Net Proceeds, which will consist of the Settlement Fund less certain amounts described in the Settlement Agreement, including expenses associated with Class Notice, Court-approved attorneys’ fees and expenses and Named Plaintiff Case Contribution Awards, taxes and other costs related to the administration of the Settlement Fund and implementation of the Plan of Allocation, will be paid to the Plan and will be allocated among qualifying members of the Settlement Class in accordance with the Plan of Allocation to be approved by the Court.
If you qualify, you may receive such an allocation. You do not need to submit a claim or take any other action unless you wish to object to the Settlement. The United States District Court for the Southern District of New York (the “Court”) authorized this Notice.
THE COURT WILL HOLD A HEARING AT 12:00 P.M. ON SEPTEMBER 19, 2012 TO DECIDE WHETHER TO APPROVE THE SETTLEMENT.
ADDITIONAL INFORMATION CONCERNING THE PROPOSED SETTLEMENT, INCLUDING THE SETTLEMENT AGREEMENT AND THE NOTICE OF CLASS ACTION SETTLEMENT THAT HAS BEEN MAILED TO SETTLEMENT CLASS MEMBERS AND EXPLAINS HOW CLASS MEMBERS CAN OBJECT TO THE SETTLEMENT IS AVAILABLE AT BEARSTEARNSERISASETTLEMENT.COM. IN ADDITION, PLAINTIFFS’ COUNSEL HAVE ESTABLISHED A TOLL-FREE NUMBER, 866-905-8101, AND EMAIL ADDRESS, INFO@BEARSTEARNSERISASETTLEMENT.COM, TO ASSIST IN ANSWERING QUESTIONS REGARDING THE SETTLEMENT. YOU MAY ALSO CONTACT CO-LEAD CLASS COUNSEL AT:
|Lynn Lincoln Sarko||Joseph H. Meltzer|
|Derek W. Loeser||Peter H. LeVan, Jr.|
|KELLER ROHRBACK L.L.P.||KESSLER TOPAZ MELTZER & CHECK, LLP|
|1201 Third Avenue, Suite 3200||280 King of Prussia Road|
|Seattle, WA 98101||Radnor, PA 19087|
|Facsimile: 206-623-3384||Facsimile: 610-667-7056|
Please direct questions to Co-Lead Class Counsel, and not to the Court or to Defendants’ Counsel.
DATED: JULY 20, 2012
By Order of the Court