Securities Litigation Claim definition

Securities Litigation Claim means any Claim or Cause of Action against any of the Debtors (i) arising from rescission of a purchase or sale of shares, notes or any other securities of any of the Debtors or an Affiliate of any of the Debtors, (ii) for damages arising from the purchase or sale of any such security, (iii) for violations of the securities laws, misrepresentations or any similar Claims related to the foregoing or otherwise subject to subordination under section 510(b) of the Bankruptcy Code, (iv) for reimbursement, contribution or indemnification allowed under section 502 of the Bankruptcy Code on account of any such Claim, including Claims based upon allegations that the Debtors made false and misleading statements or engaged in other deceptive acts in connection with the offer or sale of securities or (v) for attorneys’ fees, other charges or costs incurred on account of any of the foregoing Claims or Causes of Action.

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Securities Litigation Claim means any claim arising from the purchase or sale of a security of the Debtors, including, but not limited to any claim on account of any award, if any, in Southland Securities Corporation et al. v. INSpire Insurance Solutions, Inc. et. al., N.D. Tex. (7-99CV-243-R); Larry Altobell and Lawrence J. Miller et. al. v. INSpire Insurance Solutions, Inc. et. al., N.D. Tex. (7-99CV-248-R), or Stacy B. and Rhonda K. Lofton et. al. v. INSpire Insurance Solutions, Inc. et. al., N.D. Tex. (7-00CV-001-R).

Securities Litigation Claim means that certain claim in the amount of $500 million filed by the Lead Plaintiffs against NewPower in the Chapter 11 Cases and numbered 708 on the official claims register maintained in the Chapter 11 Cases.

Examples of Securities Litigation Claim in a sentence

The Confirmation Order shall provide that all named plaintiffs in the action relating to the Derivative Securities Litigation Claim and their respective servants, agents, attorneys and representatives shall, on and after the Confirmation Date, be permanently enjoined, stayed and restrained from pursuing or prosecuting any of the Derivative Securities Litigation Claims.
On the Consummation Date, each holder of any Allowed Class Securities Litigation Claim Order shall be distributed on account of such Allowed Class Securities Litigation Claim a distribution in shares of common stock, par value $.01 per share, of Marvel Entertainment Group, Inc.
Securities Litigation Claims Each holder of an allowed Securities Litigation Claim (i.e., the pending securities class action lawsuit and pending stockholder derivative suits) shall be paid pro rata from all rights of the Company in and to available insurance proceeds.
On the Effective Date, all Securities Litigation Claims shall be extinguished and not receive any property or consideration under the Plan; provided, however, that the Plan shall not extinguish any rights a holder of a Securities Litigation Claim may have against existing insurance.
All named plaintiffs (including certified and uncertified classes of plaintiffs) in the actions currently pending relating to any Derivative Securities Litigation Claims and their respective servants, agents, attorneys, and representatives shall, on and after the Effective Date, be permanently enjoined, stayed, and restrained from pursuing or prosecuting any Derivative Securities Litigation Claim.

More Definitions of Securities Litigation Claim

Securities Litigation Claim means any Claim against any Debtor, whether or not the subject of an existing lawsuit, arising from rescission of a purchase or sale of any securities of any of the Debtors and/or any affiliate of such Debtor, for damages arising from the purchase or sale of any such security, or for reimbursement or contribution allowed under section 502 of the Bankruptcy Code on account of any such Claim.