Frequently Asked Questions
Basic Information
- Why did I get the notice package?
- What is this lawsuit about?
- Why is this a class action?
- Why is there a settlement?
- How do I know if I am part of the Settlement?
- Are there exceptions to being included in the Settlement Class?
- What if I am still not sure if I am included?
- What does the Settlement provide?
- How much will my payment be?
- How can I receive a payment?
- When will I receive my payment?
- What am I giving up to receive a payment or stay in the Settlement Class?
- How do I exclude myself from the proposed Settlement?
- If I do not exclude myself, can I sue Defendants and the other Released Defendant Parties for the same thing later?
- If I exclude myself, can I get money from the proposed Settlement?
- Do I have a lawyer in this case?
- How will the lawyers be paid?
- How do I tell the Court that I do not like the proposed Settlement?
- What is the difference between objecting and excluding?
- When and where will the Court decide whether to approve the proposed Settlement?
- Do I have to come to the Settlement Hearing?
- May I speak at the Settlement Hearing?
- What happens if I do nothing at all?
- Are there more details about the proposed Settlement?
1. Why did I get the notice package?
The Court authorized that the Notice be sent to you because you or someone in your family may have purchased or otherwise acquired shares of HP publicly traded common stock in the open market during the period from November 22, 2010 to and through August 18, 2011, inclusive.
If this description applies to you or someone in your family, you have a right to know about the proposed Settlement of this class action lawsuit, and about all of your options, before the Court decides whether to approve the Settlement. If the Court approves the Settlement, and after any objections and appeals are resolved, an administrator appointed by the Court will make the payments that the Settlement allows.
The Notice explains the lawsuit, the Settlement, Settlement Class Members’ legal rights, what benefits are available, who is eligible for them, and how to get them.
The Court in charge of this Action is the United States District Court for the Central District of California. The case is known as In re Hewlett-Packard Company Securities Litigation, Case No. SACV 11-1404 AG (RNBx) (C.D. Cal.) and the Action is assigned to the Honorable Andrew J. Guilford.
The institutions that are suing are collectively referred to as the Institutional Investor Group or Lead Plaintiffs. The company and persons being sued, namely HP, Léo Apotheker (“Apotheker”), HP’s former President and Chief Executive Officer and a member of the Company’s Board of Directors from on or about November 1, 2010 until September 22, 2011, and R. Todd Bradley (“Bradley”), a senior HP executive, are called the Defendants. Apotheker and Bradley are also referred to as the “Individual Defendants.” Collectively, HP and the Individual Defendants are referred to as “Defendants.”
2. What is this lawsuit about?
HP is a leading global provider of products, technologies, software, solutions and services to individual consumers, small and medium-sized businesses and large enterprises, including customers in the government, health and education sectors. HP’s offerings include personal computers, including desktops and laptop notebooks (collectively, “PCs”), and printers. In July 2010, HP acquired Palm, Inc. (“Palm”), together with Palm’s mobile operating system, webOS.
On September 13, 2011, this Action was commenced and by order dated December 19, 2011, the Court appointed the Institutional Investor Group as Lead Plaintiffs and approved the Institutional Investor Group’s selection of Labaton Sucharow LLP and Motley Rice LLC as Co-Lead Counsel.
On February 10, 2012, the Institutional Investor Group filed the First Amended Class Action Complaint for Violations of the Federal Securities Laws (the “FAC”) asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). On April 11, 2012, Defendants filed motions seeking the dismissal of the FAC. On August 29, 2012, following briefing and oral argument on Defendants’ motions, Judge Guilford issued an order dismissing the FAC with leave to replead.
On October 19, 2012, the Institutional Investor Group filed the Second Amended Class Action Complaint for Violations of the Federal Securities Laws (the “Complaint”). Among other things, Lead Plaintiffs asserted that following the July 2010 announcement of HP’s acquisition of Palm, HP and its representatives made a series of public statements regarding the development of new devices using the webOS operating system. Lead Plaintiffs alleged that HP represented that within two years, the Company would introduce “millions” of webOS-enabled PCs and printers, on a “massive scale.” Lead Plaintiffs also alleged that, contrary to HP’s public statements regarding webOS for PCs and printers, the Company was not in a position to introduce webOS to PCs or printers for sale or within the time frame represented by Defendants. Lead Plaintiffs further alleged that the truth regarding webOS was not disclosed to investors until August 18, 2011, when the Company announced several pieces of news, including that it would discontinue operations for webOS devices, including smartphones and tablets. Lead Plaintiffs contend that, upon these disclosures, artificial inflation created by Defendants’ false and misleading public statements regarding webOS development was removed from the trading price of HP’s publicly traded common stock, damaging Lead Plaintiffs and members of the Settlement Class.
Defendants again moved to dismiss and, on May 8, 2013, following extensive briefing and oral argument, Judge Guilford granted Defendants’ motion in part and denied it in part. Specifically, Judge Guilford ruled that Lead Plaintiffs had adequately pled violations of Sections 10(b) and 20(a) of the Exchange Act in connection with certain statements made by Defendants Apotheker and Bradley in June and July 2011.
Following Judge Guilford’s order of May 8, 2013, Defendants filed a motion for reconsideration, seeking the dismissal of those allegations that the Court had found sufficient to state a claim against Defendants. Following briefing, on June 17, 2013, Judge Guilford denied Defendants’ motion for reconsideration.
On July 17, 2013, Defendants filed and served answers to the Complaint.
Thereafter, the Settling Parties engaged in discovery, including the service of document requests by Lead Plaintiffs. During the course of discovery, Co-Lead Counsel retained and consulted with experts in damages, software development, operating system development, and hardware production.
As discovery progressed, Defendants and Lead Plaintiffs discussed the utility of engaging a neutral mediator for the purpose of exploring a resolution of the Action. To that end, the Settling Parties agreed to engage the Honorable Layn R. Phillips (ret.) (“Judge Phillips”), a former United States District Judge with extensive experience in mediating complex securities class actions. In connection with the mediation, Defendants produced over 314,000 pages of documents. At the request of Judge Phillips, in November 2013, Lead Plaintiffs and Defendants exchanged lengthy and detailed mediation briefs, each citing extensively to the documents that were produced by Defendants.
On December 3, 2013, Lead Plaintiffs and Defendants, or their representatives, along with representatives of HP’s insurers, met for a day-long mediation at the Newport Beach, California offices of Judge Phillips. The Settling Parties were unable to reach an agreement as to the terms of a proposed settlement at that mediation. However, between December 4, 2013 and January 15, 2014, the Settling Parties continued to engage in extensive and protracted settlement discussions facilitated by Judge Phillips.
On January 15, 2014, the Settling Parties agreed in principle to the Settlement which was thereafter memorialized in the Settlement Agreement.
Defendants deny the allegations of wrongdoing and any liability whatsoever.
3. Why is this a class action?
In a class action, one or more persons or entities (in this case, the Lead Plaintiffs), sue on behalf of people and entities who have similar claims. Together, these people and entities are a class, and each is a class member. Bringing a case, such as this one, as a class action allows the adjudication of many similar claims of persons and entities that might be economically too small to bring as individual actions. One court resolves the issues for all class members at the same time, except for those who exclude themselves, or “opt-out,” from the class.
With the assistance of Judge Phillips acting as a mediator, the Settling Parties agreed to a settlement. The Settlement will end all the claims against Defendants in the Action and will avoid the uncertainties and costs of further litigation and any future trial. Affected investors will be eligible to receive compensation immediately, rather than after the time it would take to resolve future motions, conduct discovery, have a trial, and exhaust all appeals. Lead Plaintiffs and Co-Lead Counsel think the Settlement is in the best interests of the Settlement Class.
5. How do I know if I am part of the Settlement?
To be eligible for a payment from the proceeds of the Settlement, you must be a Settlement Class Member.
The Court has decided, subject to the exceptions set forth in Question 6 below, that everyone who fits this description is a Settlement Class Member and subject to the Settlement:
All persons and entities that, during the period from November 22, 2010 to and through August 18, 2011, purchased or otherwise acquired shares of Hewlett-Packard Company’s publicly traded common stock in the open market, and were damaged thereby.
If one of your mutual funds purchased HP common stock during the Class Period, that alone does not make you a Settlement Class Member. You are a Settlement Class Member only if you individually purchased HP publicly traded common stock during the Class Period. Check your investment records or contact your broker to see if you purchased HP publicly traded common stock during the Class Period.
If you sold HP publicly traded common stock during the Class Period, that alone does not make you a Settlement Class Member. You are a Settlement Class Member only if you purchased or otherwise acquired HP’s publicly traded common stock during the Class Period.
6. Are there exceptions to being included in the Settlement Class?
Yes. Excluded from the Settlement Class are: the Defendants; members of the Immediate Families of the Individual Defendants; all of HP’s subsidiaries and affiliates; any person who is or was an officer or director of HP or any of HP’s subsidiaries or affiliates during the Class Period; any entity in which any Defendant has a controlling interest; and the legal representatives, heirs, successors, and assigns of any such excluded person or entity.
Also excluded from the Settlement Class is anyone who submits a valid and timely request for exclusion from the Settlement Class, in accordance with the procedures set forth in Question 13 below.
7. What if I am still not sure if I am included?
If you are still not sure whether you are included in the Settlement, you can ask for free help. You can call the Claims Administrator toll-free at (877) 782-8059, send an e-mail to the Claims Administrator at questions@hewlettpackardsecuritieslitigation.com, or write to the Claims Administrator at Hewlett-Packard Securities Litigation, c/o GCG, P.O. Box 10056, Dublin, OH 43017-6656. Or you can fill out and return the Proof of Claim form described in Question 10, to see if you qualify.
8. What does the Settlement provide?
In exchange for the Settlement and the release of the Released Claims (defined below) against the Released Defendant Parties (defined below), Defendants have agreed to create a Fifty-Seven Million Dollar ($57,000,000.00) cash fund, which will earn interest, to be distributed, after the deduction of Court-approved fees and expenses, among all Settlement Class Members who submit a valid Proof of Claim form and are found by the Court to be entitled to a distribution from the Net Settlement Fund (“Authorized Claimants”).
HP and certain of its insurance carriers are paying the $57 million Settlement.
9. How much will my payment be?
If you are an Authorized Claimant entitled to a payment, your share of the Net Settlement Fund will depend on several things, including, how many Settlement Class Members timely send in valid Proof of Claim forms; the total amount of Recognized Losses of other Settlement Class Members; how many shares of HP publicly traded common stock you bought; how much you paid for it; when you bought it; and whether or when you sold it, and if so, for how much you sold it.
You can calculate your Recognized Loss in accordance with the formulas shown below in the Plan of Allocation. It is unlikely that you will receive a payment for all of your Recognized Loss. See the Plan of Allocation of Net Settlement Fund on pages 9 to 11 for more information on your Recognized Loss.
10. How can I receive a payment?
To qualify for a payment, you must submit a timely and valid Proof of Claim form. A Proof of Claim form is included with this Notice. If you did not receive a Proof of Claim form, you can obtain one on the Internet at the websites for the Claims Administrator: www.hewlettpackardsecuritieslitigation.com or Co-Lead Counsel: www.labaton.com and www.motleyrice.com. You can also ask for a Proof of Claim form by calling the Claims Administrator toll-free at (877) 782-8059.
Please read the instructions carefully, fill out the Proof of Claim form, include all the documents the form requests, sign it, and mail or submit it to the Claims Administrator so that it is postmarked or received no later than September 16, 2014.
11. When will I receive my payment?
The Court will hold a hearing on September 15, 2014 to decide, among other things, whether to finally approve the Settlement. Even if the Court approves the Settlement, there may be appeals which can take time to resolve, perhaps more than a year. It also takes a long time for all of the Proofs of Claim to be accurately reviewed and processed. Please be patient.
12. What am I giving up to receive a payment or stay in the Settlement Class?
Unless you exclude yourself, you are staying in the Settlement Class, and that means that, upon the “Effective Date,” you will release all “Released Claims” (as defined below) against the “Released Defendant Parties” (as defined below).
“Released Claims” means any and all claims, rights, causes of action, duties, controversies, obligations, demands, actions, debts, sums of money, suits, contracts, agreements, promises, damages, losses, judgments, liabilities, allegations and arguments of every nature and description, including both known claims and Unknown Claims (defined below), whether arising under federal, state, local, foreign or statutory law, common law or administrative law, or any other law, rule or regulation, at law or in equity, whether class or individual in nature, whether fixed or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, whether matured or unmatured, that Lead Plaintiffs or any other Settlement Class Member: (i) asserted in the Action; or (ii) could have asserted in the Action or any other action or in any forum, that arise out of, relate to, or are in connection with the claims, allegations, transactions, facts, events, acts, disclosures, statements, representations or omissions or failures to act involved, set forth, or referred to in the complaints filed in the Action and that relate to the purchase or acquisition of HP’s publicly traded common stock during the Class Period. For the avoidance of doubt, Released Claims do not include: (i) claims to enforce the Settlement; (ii) any governmental or regulatory agency’s claims in any criminal or civil action against any of the Released Defendant Parties; and (iii) claims in Gonzalez v. Apotheker, No. 30-2011-00511941-CU-BT-CJC (Super. Ct. Orange County); Tyner v. Apotheker, No. 30-2011-00513236-CU-BT-CJC (Super. Ct. Orange County); Espinoza v. Apotheker, No. SACV 11-01454 AG (RNBx) (C.D. Cal.); Salat v. Apotheker, No. SACV 11-01456 AG (RNBx) (C.D. Cal.); and In re Hewlett-Packard Company Shareholder Derivative Litigation, No. SACV 11-01454 AG (RNBx) (C.D. Cal.).
“Released Defendant Parties” means the Defendants, Catherine A. Lesjak, and their respective current and former parents, subsidiaries, affiliates, trustees, officers, directors, principals, employees, agents, employers, controlling persons, partners, insurers, reinsurers, auditors, accountants, advisors, financial advisors, investment advisors, commercial bank lenders, investment bankers, creditors, administrators, estates, legal representatives, heirs, attorneys, predecessors, successors or assigns, divisions, joint ventures, general or limited partners or partnerships, limited liability companies and any trust of which any Individual Defendant is the settlor or which is for the benefit of a member of their Immediate Family; and, as to each of the foregoing, their respective current and former legal representatives, heirs, successors or assigns.
“Unknown Claims” means any and all Released Claims which any Lead Plaintiff, any other Settlement Class Member or any other Released Plaintiff Party does not know or suspect to exist in his, her or its favor at the time of the release of the Released Defendant Parties, and any Released Defendants’ Claims that any Defendant or any other Released Defendant Party does not know or suspect to exist in his, her or its favor at the time of the release of the Released Plaintiff Parties, which if known by him, her, or it, might have affected his, her, or its decision(s) with respect to the Settlement. With respect to any and all Released Claims and Released Defendants’ Claims, the Settling Parties stipulate and agree that, upon the Effective Date, Lead Plaintiffs and the Defendants shall expressly, and each other Settlement Class Member, Released Plaintiff Party and Released Defendant Party shall be deemed to have, and by operation of the Judgment or Alternative Judgment shall have, expressly waived and relinquished any and all provisions, rights and benefits conferred by Cal. Civ. Code § 1542, or any law of any state or territory of the United States, or principle of common law, which is similar, comparable, or equivalent to Cal. Civ. Code § 1542, which provides:
A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.
Lead Plaintiffs, the other Settlement Class Members, the Released Plaintiff Parties, the Defendants and the other Released Defendant Parties acknowledge that they may hereafter discover facts in addition to or different from those which any of them or their counsel now knows or believes to be true with respect to the subject matter of the Released Claims and the Released Defendants’ Claims, but Lead Plaintiffs and the Defendants shall expressly, fully, finally and forever settle and release, and each other Settlement Class Member, Released Plaintiff Parties and Released Defendant Parties shall be deemed to have settled and released, and upon the Effective Date and by operation of the Judgment or Alternative Judgment shall have settled and released, fully, finally, and forever, any and all Released Claims and Released Defendants’ Claims that now exist or heretofore have existed upon any theory of law or equity now existing or coming into existence in the future, without regard to the subsequent discovery or existence of such different or additional facts, without regard to whether those facts were concealed or hidden. Lead Plaintiffs and the Defendants acknowledge, and other Settlement Class Members by operation of law shall be deemed to have acknowledged, that the inclusion of “Unknown Claims” in the definition of Released Claims and Released Defendants’ Claims was separately bargained for and was a key element of the Settlement.
The “Effective Date” will occur when an Order entered by the Court approving the Settlement becomes final and not subject to appeal.
If you remain a member of the Settlement Class, all of the Court’s orders will apply to you and legally bind you.
13. How do I exclude myself from the proposed Settlement?
If you do not want a payment from this Settlement, but you want to keep any right you may have to sue or continue to sue Defendants and the other Released Defendant Parties on your own concerning the Released Claims, then you must take steps to remove yourself from the Settlement Class. This is called excluding yourself or “opting out.” Please note: if you decide to exclude yourself, there is a risk that any lawsuit you may thereafter file to pursue claims alleged in the Action may be dismissed, including if such suit is not filed within the applicable time periods required for filing suit. Also, HP may terminate the Settlement if Settlement Class Members who purchased in excess of a certain amount of HP’s publicly traded common stock opt out from the Settlement Class.
To exclude yourself from the Settlement Class, you must mail a signed letter stating that you “wish to be excluded from the Settlement Class in In re Hewlett-Packard Company Securities Litigation, No. SACV 11-1404 (C.D. Cal.).” You cannot exclude yourself by telephone or e-mail. Your letter must state the number of shares of HP publicly traded common stock that you owned as of the beginning of trading on November 22, 2010 (the first day of the Class Period), and the date(s), price(s), and number(s) of shares of all of your purchases, acquisitions, and sales of HP publicly traded common stock during the Class Period. Your letter must include your name, mailing address, telephone number, e-mail address, signature, and documentation, such as brokerage statements, showing your reported trading of HP publicly traded common stock. You must submit your exclusion request so that it is received no later than August 25, 2014 to:
Hewlett-Packard Securities Litigation
c/o GCG
Attn: Exclusions Dept.
P.O. Box 10056
Dublin, OH 43017-6656
Your exclusion request must comply with these requirements in order to be valid. If you ask to be excluded, you will not receive any settlement payment, and you cannot object to the Settlement. Moreover, if you submit a valid exclusion request, you will not be legally bound by anything that happens in connection with the Settlement, and you may be able to sue (or continue to sue) Defendants and the other Released Defendant Parties in the future.
No. Unless you properly exclude yourself, you remain in the Settlement Class and you give up any rights to sue Defendants and the other Released Defendant Parties for any and all Released Claims. If you do not exclude yourself, you will not be entitled to receive any recovery in any other action against any of the Released Defendant Parties based on or arising out of the Released Claims. If you have a pending lawsuit, speak to your lawyer in that case immediately. You must exclude yourself from this Settlement Class to continue your own lawsuit. Remember, the exclusion deadline is August 25, 2014.
15. If I exclude myself, can I get money from the proposed Settlement?
No. If you exclude yourself, do not send in a Proof of Claim form to ask for any money. But, you may exercise any right you may have to sue, continue to sue, or be part of a different lawsuit against Defendants and the other Released Defendant Parties.
16. Do I have a lawyer in this case?
The Court ordered the law firms of Labaton Sucharow LLP and Motley Rice LLC to represent all Settlement Class Members. These lawyers are called Co-Lead Counsel.
You will not be separately charged for any of these lawyers. The Court will determine the amount of Plaintiffs’ Counsel’s fees and expenses, which will be paid from the Settlement Fund. If you want to be represented by your own lawyer, you may hire one at your own expense.
17. How will the lawyers be paid?
Plaintiffs’ Counsel have not been paid for any of their work. They will ask the Court to award them, from the Settlement Fund, attorneys’ fees of no more than 25% of the Settlement Fund, plus interest on such fees at the same rate as earned by the Settlement Fund. Plaintiffs’ Counsel will also seek payment of litigation expenses incurred by Plaintiffs’ Counsel in connection with the prosecution of this Action of no more than $525,000, plus interest on such expenses at the same rate as earned by the Settlement Fund.
18. How do I tell the Court that I do not like the proposed Settlement?
You can tell the Court that you do not agree with the Settlement or some part of it.
If you are a Settlement Class Member, you can object to the Settlement or any of its terms, the proposed Plan of Allocation of the Net Settlement Fund, and/or the Fee and Expense Application. You may write to the Court setting out your objection. You may give reasons why you think the Court should not approve any or all of the Settlement terms or arrangements. If you would like the Court to consider your views, you must file a proper objection within the deadline, and according to the following procedures.
To object, you must send a signed letter stating that you object to the proposed Settlement in “In re Hewlett-Packard Company Securities Litigation, No. SACV 11-1404 (C.D. Cal.).” You must include your name, address, telephone number, e-mail address, and signature; identify the date(s), price(s), and number(s) of shares of all purchases, acquisitions, and sales of HP publicly traded common stock during the Class Period; identify the number of shares of HP publicly traded common stock owned as of the beginning of trading on November 22, 2010; and state the reasons why you object to the Settlement and which part(s) of the Settlement you object to. You must supply documentation, such as brokerage statements, showing your reported trading in HP publicly traded common stock. Unless otherwise ordered by the Court, any Settlement Class Member who does not object in the manner described herein will be deemed to have waived any objection and shall be forever foreclosed from making any objection to the proposed Settlement and the Fee and Expense Application. Your objection must be filed with the Court and mailed or delivered to the following counsel so that it is received on or before August 25, 2014:
| The Court: | Co-Lead Counsel: | Defendants’ Counsel Representatives: |
|
Clerk of the Court United States District Court for the Central District of California United States Courthouse 411 West Fourth Street, Room 1053 Santa Ana, CA 92701 |
LABATON SUCHAROW LLP Jonathan Gardner, Esq. 140 Broadway New York, NY 10005 MOTLEY RICE LLC Gregg S. Levin, Esq. 28 Bridgeside Boulevard Mt. Pleasant, South Carolina 29464 |
MORGAN, LEWIS & BOCKIUS LLP Marc J. Sonnenfeld, Esq. 1701 Market Street Philadelphia, PA 19103 Robert E. Gooding, Jr., Esq. 5 Park Plaza, Suite 1750 Irvine, CA 92614 |
You do not need to attend the Settlement Hearing to have your written objection considered by the Court. However, any Settlement Class Member who has not submitted a request for exclusion from the Settlement Class and who has complied with the procedures set out in this Question 18 and below in Question 22 may appear at the Settlement Hearing and be heard, to the extent allowed by the Court, about any objection to the Settlement, the Plan of Allocation, or Plaintiffs’ Counsel’s Fee and Expense Application. Any such objector may appear in person or arrange, at his, her, or its own expense, for a lawyer to represent him, her, or it at the Settlement Hearing.
19. What is the difference between objecting and excluding?
Objecting is telling the Court that you do not like something about the proposed Settlement, Plan of Allocation, or Fee and Expense Application. You can still recover from the Settlement. You can object only if you stay in the Settlement Class.
Excluding yourself is telling the Court that you do not want to be part of the Settlement Class. If you exclude yourself, you have no basis to object because the Settlement no longer affects you.
20. When and where will the Court decide whether to approve the proposed Settlement?
The Court will hold the Settlement Hearing on September 15, 2014, at 10:00 am., in Courtroom 10D of the United States Courthouse, 411 West Fourth Street, Santa Ana, California 92701.
At this hearing, the Court will consider: (i) whether the Settlement is fair, reasonable, and adequate and should be finally approved; (ii) the proposed Plan of Allocation; and (iii) the application of Plaintiffs’ Counsel for an award of attorneys’ fees and payment of litigation expenses. The Court will take into consideration any written objections filed in accordance with the instructions in Question 18. We do not know how long it will take the Court to make these decisions.
You should be aware that the Court may change the date and time of the Settlement Hearing without another notice being sent to Settlement Class Members. If you want to attend the hearing, you should check with Co-Lead Counsel beforehand to be sure that the date and/or time has not changed.
21. Do I have to come to the Settlement Hearing?
No. Co-Lead Counsel will answer any questions the Court may have. But, you are welcome to attend at your own expense. If you submit a valid and timely objection, you do not have to come to Court to discuss it. You may also pay your own lawyer to attend, but it is not required. If you do hire your own lawyer, he or she must file and serve a Notice of Appearance in the manner described in the answer to Question 22 below.
22. May I speak at the Settlement Hearing?
If you object to the Settlement, you may ask the Court for permission to speak at the Settlement Hearing. To do so, you must include with your objection (see Question 18) a statement that it is your intention to appear in “In re Hewlett-Packard Company Securities Litigation, No. SACV 11-1404 (C.D. Cal.).” Persons who intend to object to the Settlement, the Plan of Allocation, or Plaintiffs’ Counsel’s Fee and Expense Application and desire to present evidence at the Settlement Hearing must also include in their objections (prepared and submitted in accordance with the answer to Question 18 above) the identity of any witness they may wish to call to testify and any exhibits they intend to introduce into evidence at the Settlement Hearing. You may not speak at the Settlement Hearing if you excluded yourself from the Settlement Class or if you have not provided written notice of your objection and intention to speak at the Settlement Hearing in accordance with the procedures described in Questions 18 and 22.
23. What happens if I do nothing at all?
If you do nothing and you are a member of the Settlement Class, you will receive no money from this Settlement and you will be precluded from starting a lawsuit, continuing with a lawsuit, or being part of any other lawsuit against Defendants and the other Released Defendant Parties concerning the Released Claims. To share in the Net Settlement Fund, you must submit a Proof of Claim form (see Question 10). To start, continue, or be a part of any other lawsuit against Defendants and the other Released Defendant Parties concerning the Released Claims in this case, you must exclude yourself from the Settlement Class (see Question 13).
24. Are there more details about the proposed Settlement?
The Notice summarizes the proposed Settlement. More details are in the Settlement Agreement which is posted on this website. You may review documents filed in the case at the Office of the Clerk of the United States District Court for the Central District of California, 411 West Fourth Street, Room 1053, Santa Ana, California 92701, on weekdays (other than court holidays) between 10:00 a.m. and 4:00 p.m. Subscribers to PACER, a fee-based service, can also view the papers filed publicly in the Action through the Court’s on-line Case Management/Electronic Case Files System at http://www.pacer.gov.
You can call us toll free at (877) 782-8059 or visit the websites of Co-Lead Counsel at www.labaton.com, or www.motleyrice.com.