Statement of Class Recovery. Pursuant to the Settlement described herein, a $21,807,500 settlement fund has been established (the “Settlement Amount”). The Settlement Amount together with any interest earned thereon is the “Settlement Fund.” The Settlement Fund less: (a) any Taxes and Tax Expenses; (b)any Notice and Administration Expenses; and (c) any attorneys’ fees and litigation charges and expenses and any award to Plaintiffs pursuant to 15 U.S.C. §78u- 4(a)(4) in connection with their representation of the Class, awarded by the Court, will be distributed to Class Members under a plan of allocation that is approved by the Court. The proposed plan of allocation (“Plan of Allocation”) is set forth on pages _- below. Based on Plaintiffs’ estimate of the amount of XxxxXxxxx common stock eligible to recover, the average distribution under the Plan of Allocation is roughly $0.055 per share, before deduction of any taxes on the income earned on the Settlement Fund, Notice and Administration Expenses, and attorneys’ fees and expenses and any award to Plaintiffs, as determined by the Court. Class Members should note, however, that these are only estimates. A Class Member’s actual recovery will be a proportion of the Net Settlement Fund determined by that claimant’s claims as compared to the total claims of all Class Members who submit acceptable and timely Proofs of Claim. An individual Class Member may receive more or less than these estimated average amounts. Please see the Plan of Allocation set forth and discussed at page _ below for more information on the calculation of your claim.
Statement of Class Recovery. Pursuant to the Settlement described herein, a $42.5 million Settlement Fund is being provided. The Settlement Fund was negotiated based on an analysis by Lead Plaintiff and Lead Counsel of the estimated dollar value of claims likely to survive summary judgment and anticipated appeals. Lead Plaintiff estimates that there were approximately 235,140,000 million shares of Xxxxxx common stock which may have been damaged during the Class Period based on Lead Plaintiff’s estimate of the maximum amount of damages that could have been recovered.1 Lead Plaintiff estimates that if Class Members submit claims for 100% of the shares eligible for distribution, the estimated average distribution will be approximately $0.18 per damaged share before deduction of any taxes on the income thereof, notice and administration costs and the attorneys’ fee and expense award as determined by the Court. Historically, actual claims rates are less than 100%, which result in higher distributions per share. A Class Member’s actual recovery will be a proportion of the Net Settlement Fund determined by that claimant’s Recognized Claim as compared to the total Recognized Claims submitted. An individual Class Member may receive more or less than this average amount depending on the number of claims submitted, when during the Class Period a Class Member purchased or acquired Xxxxxx publicly traded common stock, the purchase or acquisition price paid, and whether those shares were held at the end of the Class Period or sold during the Class Period, and, if sold, when they were sold and the amount received. See Plan of Allocation as set forth at pages below for more information on your Recognized Claim.
Statement of Class Recovery. Pursuant to the Settlement described herein, a $12,000,000 settlement fund has been established (the “Settlement Amount”). The Settlement Amount together with any interest earned thereon is the “Settlement Fund.” The Settlement Fund less: (a) any taxes and tax expenses;
Statement of Class Recovery. Subject to Court approval, and as described more fully in Section III below, Lead Plaintiff,2 on behalf of the Class, has agreed to settle all claims related to the purchase or sale of ATB Tokens during the Class Period that were or could have been asserted against the Defendants and the other Released Parties in this Action in exchange for a settlement payment of US $250,000 in cash (the “Settlement Amount”) and any earnings on any such monies, which has been deposited into an interest-bearing escrow account held by the Escrow Agent3 (the “Settlement Fund”). Based on Lead Counsel’s estimate of the number of ATB Tokens purchased by Class Members, and assuming that all of those owners participate in the Settlement, Lead Counsel estimates that the average recovery would be no less than $0.71 per ATB Token, before the deduction of Court- approved fees, expenses and costs as described herein. Class Members should note, however, that this is only an estimate based on the overall number of ATB Tokens potentially purchased by Class Members. Some Class Members may recover more or less than this estimated amount depending on, among other factors, how many ATB Tokens were sold to purchasers in the United States, how many Class Members file claims, and the timing and prices at which their ATB Tokens were acquired or sold. Historically, actual claim rates in class actions are less than 100%, which would result in a higher distribution per ATB Token. The Net Settlement Fund (the Settlement Fund less taxes, notice and administration costs, and attorneys’ fees and litigation expenses awarded to Lead Counsel) will be distributed in accordance with a plan of allocation (the “Plan of Allocation”) that will be approved by the Court and will determine how the Net Settlement Fund shall be allocated to the members of the Class who submit valid Proof of Claim and Release forms (“Proof of Claim”). Lead Plaintiff’s proposed Plan of Allocation is included in this Notice.
