Settlement Timeline

Judge Friedman granted final approval of the Settlement on October 27, 2011, and established that claims could be filed from November 14, 2011 until May 11, 2012.

The following is a timeline for key events in the Settlement. It is important to note that dates in the future are only estimates and are provided here only to give potential claimants a rough sense of when future events may take place.

IMPORTANT NOTE: No payments will be made until all claims are reviewed and decided. This is not likely to occur before late 2012, and perhaps even later than that.

Timeline

  • May 13, 2011 – Preliminary Approval granted by the Court.
  • June 3, 2011 – Notice Period - Notice was sent to potential Class Members regarding when the Court was to conduct a Fairness Hearing to decide whether to grant final approval to the Settlement and how Class Members could submit any comments or objections to the Settlement.
  • August 12, 2011 – Objection Deadline and Deadline to Submit a Notice of Intent to Appear and Speak at the Fairness Hearing.
  • September 1, 2011 – Fairness Hearing – The Court held a Fairness Hearing at 9:30 am to hear any objections and decide whether to grant final approval to the Settlement.
  • October 27, 2011 – Final Approval granted by the Court.
  • November 14, 2011 – May 11, 2012 - Claim Submission Period.
  • May 11, 2012 – CLAIM FORMS MUST HAVE BEEN POSTMARKED NO LATER THAN MAY 11, 2012.
  • July 19, 2013 – Claim Adjudications – The Court-appointed neutral third parties have finished their review of all complete claims timely submitted by Class Members.
  • August 2, 2013 – Computation of Settlement Payments – The Claims Administrator has computed the number of approved claims and the amount of the awards to be paid to successful Class Members and has prepared the formal accounting required by the Settlement Agreement. This accounting is referred to as the “Preliminary Final Accounting.” The Claims Administrator submitted a Corrected Preliminary Final Accounting to the Court on August 15.
  • August 23, 2013 – Approval of Class Counsel’s Motion for Approval of Payments – As required by the Settlement Agreement, on August 6, Class Counsel filed with the Court a Motion for Approval of Distribution of Funds. This motion was unopposed, and the Court entered an Order granting the motion on August 23.
  • August 31, 2013 - It is expected that claim determination letters will be mailed by the end of August to all successful Class Members as well as to Class Members whose claims have been denied. (Note: some claim denials have already been mailed.) Checks will be sent to successful Class Members approximately 30 days after the claim determination letters are mailed.