PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND. As discussed above, the Settlement provides $30,000,000 in cash for the benefit of the Settlement Class. The Settlement Amount and any interest it earns constitute the “Settlement Fund.” The Settlement Fund, after deduction of Court-approved attorneys’ fees and Litigation Expenses, Notice and Administration Costs, Taxes, and any other fees or expenses approved by the Court, is the “Net Settlement Fund.” If the Settlement is approved by the Court, the Net Settlement Fund will be distributed to eligible Authorized Claimants, i.e., members of the Settlement Class who timely submit valid Claim Forms that are accepted for payment by the Court, in accordance with a plan of allocation to be adopted by the Court. Settlement Class Members who do not timely submit valid Claim Forms will not share in the Net Settlement Fund, but will otherwise be bound by the Settlement.
PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND. The Settlement Amount and the interest it earns is the “Settlement Fund.” The Settlement Fund, after deduction of Court-approved attorneys’ fees and expenses, Notice and Administration Expenses, Taxes, and any other fees or expenses approved by the Court, is the “Net Settlement Fund.” The Net Settlement Fund will be distributed to members of the Class who timely submit valid Claim Forms that show a Recognized Claim according to the Plan of Allocation approved by the Court. The Court may approve the following proposed Plan of Allocation or modify it without additional notice to the Class. Any order modifying the Plan of Allocation will be posted on the case website at: xxx.XxxxxxxxxXxxxxxxxXxxxxxxxxxXxxxxxxxxx.xxx and at xxx.xxxxxxx.xxx. The purpose of this Plan of Allocation of the Net Settlement Fund (“Plan of Allocation” or “Plan”) is to establish a reasonable and equitable method of distributing the Net Settlement Fund among Authorized Claimants who allegedly suffered economic losses as a result of the alleged violations of the federal securities laws. For purposes of determining the amount an Authorized Claimant may recover under this Plan, Class Counsel have conferred with their damages expert. This Plan is intended to be generally consistent with an assessment of, among other things, the damages that Class Counsel and Class Representatives believe were recoverable in the Action. Defendants, however, deny any wrongdoing or damages; and the Plan is not a formal damages analysis and the calculations made pursuant to the Plan are not intended to be estimates of, nor indicative of, the amounts that Class Members might have been able to recover after a trial. An individual Class Member’s recovery under the Plan of Allocation will depend on, for example: (i) the total number of claims submitted and the value of those claims; (ii) when the Class Member purchased or acquired LSI publicly traded common stock; and (iii) whether and when the Class Member sold his, her, or its shares of LSI common stock. Because the Net Settlement Fund is less than the total losses alleged to be suffered by Class Members, the formulas described below for calculating Recognized Losses are not intended to estimate the amount that will actually be paid to Authorized Claimants. Rather, these formulas provide the basis on which the Net Settlement Fund will be distributed among Authorized Claimants on a pro rata basis. An Authorized Claimant’s Recognized Claim shall be the amount used ...
PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND. 6.1 Unless otherwise agreed by the parties, within sixty (60) days after preliminary approval, Cincinnati Bxxx shall provide the Administrators or their designee with the following information pertaining to the account(s) in the Plans of each member of the Settlement Class as identified and maintained in the records of the Plans:
a. The Claimant’s name, last known address, and social security number;
b. The information necessary to make the calculations in Section 6.2 below. If precise data is not readily available, the parties shall meet and confer regarding the data that will be used. This information shall include for each claimant: (a) the account balance in U.S. dollars invested in the Company Shares Fund, Cincinnati Bxxx stock, or Broadwing stock at the beginning of the Class Period; (b) the dollar value of purchases of Cincinnati Bxxx stock, Broadwing stock, or shares of the Employer Stock Fund during the Class Period; (c) the dollar value of sales of Cincinnati Bxxx stock, Broadwing stock, or shares of the Company Stock fund during the Class Period; and (d) the account balance in U.S. dollars invested in Cincinnati Bxxx stock, Broadwing stock, or the Company Shares Fund as of the end of the Class Period.
c. Whether the Claimant is a current participant in either Plan as of the most recent date for which such information is reasonably available.
6.2 Within thirty (30) days of Final Approval, the Administrators shall calculate the Claimants’ Settlement Claims based on the information described in Section 6.1 and according to the following court approved-methodology:
a. For Participant Claimants, the Administrators shall determine the approximate loss (“Loss”) for each member of the Settlement Class as follows: Loss = A + B – C – D, where, for each member’s Account:
1. A = the dollar value, if any, of the balance in Cincinnati Bxxx or Broadwing stock on the first day of the Settlement Class Period;
2. B = the dollar value, if any, of all of the purchases of Cincinnati Bxxx or Broadwing stock during the Settlement Class Period as of the time of purchase(s);
3. C = the dollar value, if any, of all sales of stock during the Settlement Class Period as of the time of the sale(s); and
4. D = the dollar value, if any, of Cincinnati Bxxx or Broadwing stock remaining on the last day of the Settlement Class Period.
b. For Former Participant Claimants, the Administrators shall determine the approximate loss (“Loss”) for each member of the Settlement Class as fol...
PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND. 6.1 Unless otherwise agreed by the parties, within sixty (60) days after filing this Agreement, the Defendants shall provide the Administrators or their designee with the following information pertaining to the account(s) in the Plans of each member of the Settlement Class as identified and maintained in the records of the Plans:
a. The Claimant’s name, last known address, and social security number;
b. The information necessary to make the calculations in Section 6.2 below. If precise data is not readily available, the parties shall meet and confer regarding the data that will be used. This information shall include for each Claimant: (a) the account balance in U.S. dollars invested in Xcel stock at the beginning of the Class Period; (b) the dollar value of purchases of Xcel stock during the Class Period; (c) the dollar value of sales of Xcel stock during the Class Period; and (d) the account balance in U.S. dollars invested in Xcel stock as of the end of the Class Period.
c. Whether the Claimant is a current participant in either Plan as of the most recent date for which such information is reasonably available.
6.2 Within thirty (30) days of Final Approval, the Administrators shall calculate the Claimants’ Settlement Claims based on the information described in Section 6.1 and according to the following court approved-methodology:
a. The Administrators, with the assistance of Xcel, if necessary, shall determine the approximate loss (“Loss”) for each member of the Settlement Class as follows: A = (Value of (50% of the number of shares that had been held in the Plans on September 23, 1999 [Adjusted for the 1.55/share exchange of Xcel for NCE shares at the time of merger], valued at the December 4, 2001 closing price/share of $27.56)) less (Value of those same shares on the earlier of the March 31, 2003 closing price of $12.82/share or Participant’s last day of participation in Company Stock Fund at the closing price on that day) B = (Purchase price of all company stock purchased from September 23, 1999 through March 31, 2003) less (Value of all this purchased company stock still held on the earlier of March 31, 2003 or Participant’s last day of participation in the Company Stock Fund at the closing price on the appropriate day) C = (Sale price of all company stock sold during the period of September 23, 1999 through March 31, 2003).
b. The Losses of the Claimants as calculated in Section 6.2(a) will be totaled to yield the Loss of each Plan as a whole ove...
