Anwar et al v. Fairfield Greenwich Limited et al

Filing 1042

ENDORSED LETTER addressed to Clerk of the Court, from Nico Veldstra, dated 2/7/2013, re: Objection to the proposed partial settlement. I request that the Court withhold the settlement approval until the parties amend the settlement and find a more appropriate balance between the potential Class Members recovery and the reimbursement of Attorney's fees and expenses. ENDORSEMENT: The Clerk of Court is directed to enter into the public record of this action the letter herein submitted to the Court by class member Nico Veldstra. (Signed by Judge Victor Marrero on 2/13/2013) (ja)

From: Nico Veldstra
Emmalaan 19
1862 ER Bergen
The Netherlands
tel. [phone]

[e-mail]

To:

Clerk of the Court
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
Daniel Patrick Moynihan
United States Court House
500 Pearl Street
New York, NY 10007-1312
United States of America

.IN...BIi.:
PASHA S.ANWAR, at.a•., Plaintiffs,

v
FAIRFIELD GREENWICH LIMITED, et.al., Defendants
Civil Action No. 09-cv-118.

Objection to the proposed partial settlement
INTRODUCTION
The parties claim that the proposed settlement conditions are fair, reasonable, and adeq\ ate
to the class. I disagree with this statement, and therefore object to the proposed statem nt.
I. I am the Member of the class.
My full name is Nico Veldstra, my mailing address is Emmalaan 19, 1862 ER Bergen, the

Netherlands. My telephone number is [phone].

I am a beneficial owner of shares in Fairfield Sigma Limited.

Below please find an overview of shares purchased and redeemed.

Documentary proof is presented in the attachments (1 to 4).

Pagina 1 van 3

Date

Purchased
Amount of
Shares

Amount of
Shares

Total
amOl nt

Total
amount
in USD *)

EURO!
SHARE

Name of fund

Redeemed

Amount
per
share

EURC

USD

116.51

39,6 3.40

53,659.97
July 27, 2001

340

Fairfield Sigma Ltd

48,765.28

i
I

April 23, 2007
August I,
2008

200.8463

Balance per
Feb.7,2013

279.8463
shares

. Fairfield Sigma Ltd

• 179.2415

35,9~

9.99
65,544.19

261 Fairfield Sigma Ltd

*) rate per Februay 7, 2013

185.3896\48,31 6.69

I
1,355 USD/EUR

II. This objection is brought in good faith.
I am bringing this objection in good faith, as I'm very disappointed with the outcome of the
settlement while not standing to gain substantially from this objection.
III. The proposed settlement terms are mostly beneficent to the attorneys.
The proposed payment of attorney's fees and reimbursement of expenses to a possible to al
of 25% to 28,3% of the total settlement sum, make up a totally inappropriate and outlanc ish
share of the total settlement. The settlement results in a relatively neglectable and minor
reimbursement of the lost investments for the class action members who with no exceptic n
have been drawn into this situation totally involuntary, whereas the attorneys are allowed
outlandish gains on a cause in which they are partaking of free will.
Therefore I respectfully request the Court to withhold the settlement approval until the pc rties
amend the settlement and find a more appropriate balance between the potential Class
Members recovery and the reimbursement of Attorney's fees and expenses.
Respectfully submitted,

Dated:

February 7. 2013

By:

Nico Veldstra

Attachments:
-

Certificate of service
4 pp Documentary proof of purchase, redemption, and ownership (per 2012)

Pagina 2 van 3

Certificate of Service
I hereby certify that on February 7, 2013, I caused true copies of this document to be sen to
the following addresses by courier.
Court
Clerk of the Court
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
Daniel Patrick Moynihan
United States Court House
500 Pearl Street
New York, NY 10007-1312
United States of America

Plaintiffs'Councel Designee
Robert C. Finkel, Esq.
Wolf Popper LLP
845 Third Avenue
New York, NY 10022
United States of America

Settling Defendants' Councel Designee
Mark G. Cunha, Esq.
Simpson Thacher & Bartlett LLP
425 Lexington Avenue

The Clerk of Coun is directed to enter into the p blic record
of this action the letter above submitted to the C urt by

New York, NY 10017-3954

d~/I'U~

United States of America

SOORDERED.

Nico veldstra_ _-I--+-r---rl-7f:~lf'.--J'---=-==___'--­

Pagina 3 van 3

Ie

~

SN!'.bank
POSTIUS

810/001

70053
5201 DZ S HERTDGENBOSCH
talafoon: 073-6922913

VELDSTRA N EN/OF
VELDSTRA ZWART L
PR HENDRIKLN 10
1862 EL BERGEN NH

Afs hrift effectendepot
EHectendepotnummer

RlllR

Belreft

85.09.04.811

EFFECTENNOTA 28062001-003272

VaJutasoort

Datum

EUR

24-08-2001
Mutatlea debet/af

WIJ HEBBEN VOOR U GEKOCHT TE FRANKFURT D.O. 28-07-2001
340 RGAAN FAIRFIELD SIGMA

KOERS EUR 116.51

39.613.40

PROYISIE

169.42

85.09.04.811

39.782.82

UW POSITIE IN DIT FONDS IS NA DElE MUTATIE

340 STUKS

VALUTADATUM 27-07-2001
WIJ DEBITEREN

UW REIENING

/

I,

I

Volgnr.

Mutatlea eredillbil

't

c

N ..

~

~

~
tI')

~

810/001

POSTBUS 70051
5201 DZ S HBRTOGBNBOSCH
telefoon: 030-2997299

VBLDSTRA N BN/OF
VBLDSTRA ZWART L
PI. HBNDRlltLN 10
1862 BL BBRGBN NH

'"
ti'r

85.09.04.811

t

BFrBCTBNNOTA 22112007·001956

~

BUR

,

~

24-01-2008
Mutatie. credltlblJ

261 RGAAN rAIRFIBLD SIGMA -A-

ItOBRS BUR 185,3896
PROVISIB

48.386,69
182,58

f'J

,-­

--+­ .........

ow POSITIB IN DIT FONDS'IS NA DBZB MUTATIB

279,8463 STUltS

VALUTADATUN 22-01-2008

WIJ CRBDITBRBN OW RBItBNING

85.09.04.811

,

1

WIJ HBBBBN VOOR U VBRltOCHT D.D. 01-01-2008

~

.,....

"

,:

Mutalle. debetlaf

n;

'

48.204,11

SNS~Bank

810/001

POSTBUS 70053
5201 DZ S HERTOGENBDSCH
telefoon: 073-&.22.,2

VELDSTRA N EN/OF
VELDSTRA ZWART L

PR HENDRIKLN 10

1862 EL BERGEN NH

Effectendepot

'1-1'111 Ejfectendepotnummer
l85.oa.04.811
1

Valutasoort

Betref1;

EFFECTENNOTA 10042007-007538

Datum ollerzicht

EUR

14-05-2007
lIotetles debe

Omschrijuiny

WIJ HUBEN VDDR U GEKOCHT D. D. 23-04-2007 SLECHTS

200.8463 RGAAN FAIRFIELD SIGMA -A­

KOERS EUR 17.,2415

35 •••• , ••

PROVISIE

1&4.DD

85.0•. 04.811

36.163.99

UW POSITI! IN DIT FONDS IS NA DEZE MUTATIE

540.8483 STUKS

VALUTADATUM 23-04-2007
WIJ DESITEREN

UW REKENING

.--

.--.----~

Blod

1
f

lIutatlea credltJblj

lfectendepot

SNS-it Bank

~I'"

~
"+'--

EffectendepotDummer Betreft

85'°9.04.811

WAARDESTAAT PER 3o-o6~2012

Omschrijving

Aandelen en certificaten binnenland
RGAAH GLOBAL OPPORTUNITIES FUND
AandeleA en certificaten buitenland
RGAAN FAIRFIELD SIGMA -A­
RGAAH THAMES RIVER HILLS. APEX -B­
RGAAN ALDARRA PRIME ADVISOR USD
RGAAH AJW OFFSHORE II B 1108
RGAAH LONGACRE SPV II CLASS I 0409
RGAAH ALDARRA MERRIWELl CLAWBACK USD
RGAAH ALDARRA HERRIWELL ILLIQUID USD
RGAAH EOS CRED OPP OFFSHORE R6-1207
RGAAN ASHMORE EM MKT LIQ AUG 11
RGAAH ASHMORE EM MKT LIQ DEC 11

--I
EUR

AantaI/Nominaal

r

Val

39,942

EUR

279,8463
4,61
109,134
403,937
1,1994
15,299
65,447
5,8232
8,2995
1,6155

EUR
EUR
USD
USD
USD
USD
USD
USD
USD
USD

TOTAAL
GEBRUIKTE WISSELKOERSEH
USD 1,2667

Blad 1

Koers

7,82

Waarde

312,35

3.023,98
31.612,58
970,57
1. 533,26
2.057,91
3.657,20
63,80
12,37
43.244,02