Anwar et al v. Fairfield Greenwich Limited et al

Filing 1207

DECLARATION of David H. McGill in Support re: #1206 Notice (Other). Document filed by GlobeOp Financial Services LLC.. (Attachments: #1 Exhibit A)(McGill, David)

Exhibit A

September 24, 2013
BY FEDEX
The Attorneys General listed on Attachment A

Re:

Anwar, et al. v. Fairfield Greenwich Limited, et al.,
09-cv-00118 (S.D.N.Y.) (VM) (FM)

Dear Sir/Madam:
Pursuant to the Class Action Fairness Act, 28 U.S.C. § 1715(b), GlobeOp
Financial Services LLC (the “Settling Defendant”) hereby serves notice of a proposed
settlement of the claims against the Settling Defendant in Anwar, et al. v. Fairfield
Greenwich Limited, et al., Master File No. 09-CV-00118 (S.D.N.Y.) (the “Action”)
pending in the United States District Court for the Southern District of New York (the
“Court”). The Court has issued preliminary approval of the proposed settlement and
scheduled a hearing for final approval of the proposed settlement on November 22, 2013.
Pursuant to the requirements set forth in 28 U.S.C. § 1715(b), the Settling
Defendant encloses a CD containing copies of the following documents related to the
Action:
1. The first consolidated complaint filed in the Action on April 24, 2009, entitled
“Consolidated Amended Complaint” (identified on the CD as Enclosure 1);
2. The amended consolidated complaint filed in the Action on September 29, 2009,
entitled “Second Consolidated Amended Complaint” (identified on the CD as
Enclosure 2);1
3. The notice of dismissal of defendant Lion Fairfield Capital Management Ltd.
(identified on the CD as Enclosure 3); the Court's decision on the defendants’
1

Additional complaints filed by certain putative class members that did not assert claims against the
Settling Defendant have been consolidated under Master File No. 09-CV-00118 (S.D.N.Y.). Copies of
these complaints are publicly available on the Court’s docket (http://ecf.nysd.uscourts.gov) under Master
File No. 09-CV-01118, where they are listed as “Related Cases.”

September 24, 2013
Page 2

motion to dismiss ordering the dismissal of defendants Brian Francoeur, Ian
Pilgrim and PricewaterhouseCoopers International Ltd. (identified on the CD as
Enclosure 4); the so-ordered motion for dismissal and final judgment of the
claims asserted in the Action by AAC Investment, Inc. and Fundacion Virgilio
Barco (identified on the CD as Enclosures 5 and 6); the order of dismissal and
final judgment of the claims asserted in the Action by ABN AMRO Life S.A.
(identified on the CD as Enclosures 7 and 8); the stipulated order of dismissal of
the claims asserted in the Action by Jeffrey S. Lieberman (identified on the CD as
Enclosure 9); and the final judgment and order of dismissal of the Fairfield
Greenwich Defendants (identified on the CD as Enclosure 10).
4. The settlement agreement, entitled “GlobeOp Stipulation of Settlement”
(identified on the CD as Enclosure 11);
5. A separate settlement agreement, entitled “Stipulation of Settlement” between the
Settling Defendant and the Litigation Trustee (“Trustee”) for Greenwich Sentry,
L.P. and Greenwich Sentry Partners, L.P. (the “Funds”) in connection with
separate actions commenced by the Trustee against the Settling Defendant (and
other parties) in Walker, Truesdell, Roth & Associates, Inc. v. GlobeOp Financial
Services LLC, et al., Index Nos. 600498/2009 and 600469/2009 (identified on the
CD as Enclosure 12);
6. The order preliminarily approving the settlement, entitled “GlobeOp Preliminary
Approval Order” (identified on the CD as Enclosure 13);
7. The Court-approved notice for settlement class members, entitled “Notice of
Proposed GlobeOp Partial Settlement of Class Action and Settlement Fairness
Hearing, and Motion for Attorneys’ Fees and Reimbursement of Expenses”
(identified on the CD as Enclosure 14);
8. The Court-approved summary notice of the GlobeOp partial settlement, entitled
“Summary Notice” (identified on the CD as Enclosure 15);
9. The Court-approved proof of claim form for settlement class members, entitled
“GlobeOp Proof of Claim and Release” (identified on the CD as Enclosure 16);
10. The proposed final judgment and order of dismissal, entitled “GlobeOp Final
Judgment and Order of Dismissal with Prejudice” (identified on the CD as
Enclosure 17); and
11. An agreement between class counsel and counsel for the Settling Defendant made
in connection with the settlement, entitled “Confidential Addendum to
Memorandum of Understanding” (identified on the CD as Enclosure 18). The
Supplemental Agreement defines the circumstances under which the Settling

September 24, 2013
Page 3

Defendant will have the right to terminate the settlement based upon the size and
nature of the claims held by class members who seek exclusion from the
settlement class. The settling parties have agreed to keep the Supplemental
Agreement confidential. As such, the Supplemental Agreement has not been filed
in court to date and certain excerpts have been redacted from the copy provided
here. Should you require the disclosure of the redacted information, the Settling
Defendant would be prepared to disclose such information provided that an
appropriate confidentiality agreement can be reached.
Pursuant to 28 U.S.C. § 1715(b)(7), the Settling Defendant states that it is not
currently feasible to provide a definitive list of names of individual class members who
reside in each State and the estimated proportionate share of the claims of such class
members to the entire settlement. Subject to certain defined exclusions, the proposed
settlement class includes all persons or entities who purchased or held interests in the
Funds from October 31, 2003 through September 1, 2006, who were investors in the
Funds as of December 10, 2008 and who suffered a net loss of principal invested in the
Funds. The identity and the proportionate share of the claims of each and every possible
settlement class member is currently unknown to the Settling Defendant because, among
other reasons, certain beneficial owners in the Funds did not suffer a net loss of principal
and certain of the Funds’ holders of record are nominees and/or custodians who invested
on behalf of any number of undisclosed beneficial owners, some of whom have may net
gains that offset net losses.
Nevertheless, based on claims information provided by class counsel, the Settling
Defendant provides in Table A below its best understanding of the settlement class
members residing in each State and the estimated proportionate share of their claims
under the settlement. The actual number and identity of settlement class members in
each State and their proportionate share of claims under the settlement may vary for a
number of reasons, most notably the presence of multiple beneficial owners associated
with a single account of record, the presence of beneficial owners who do not reside in
the same state as their record holders, application of the recognized loss formula in the
plan of allocation for the settlement fund, address changes since the time the investments
were made, redemptions or other recoveries made by beneficial owners, and the extent to
which the aggregate net losses of beneficial owners vary from the losses experienced at
the Fund level.
Table A
Class Member

State
AZ
CA
CA
CA

Estimated Proportionate
Share of Claim
2.3343%
0.0424%
0.1443%
0.0000%

September 24, 2013
Page 4

CA
CO
CT
CT
CT

0.1698%
2.2086%
0.2592%
0.8488%
0.0996%

CT

0.1613%

CT
FL
FL
FL
FL
FL
FL
FL

0.0692%
0.2759%
0.8735%
0.0000%
0.1687%
0.0849%
0.6877%
14.2604%

IL

0.8709%

IL
IL
IL
MA
NJ
NY
NY
NY
NY
NY
NY
NY
NY
OH

1.9504%
0.0849%
3.3953%
0.1698%
0.8488%
0.4428%
0.6791%
0.0497%
0.0221%
0.4244%
0.4074%
0.0255%
22.5789%
3.1609%

OH

3.3953%

OH

0.2292%

OH
SC
SC
TN
WA
WI

0.6451%
0.1528%
0.7045%
0.1358%
0.1596%
2.1221%

Attachment A
Eric H. Holder, Jr.
Attorney General of the United States
U.S. Department of Justice
950 Pennsylvania Avenue, NW
Washington, DC 20530-0001

Eric T. Schneiderman
New York Attorney General
Department of Law
The Capitol, 2nd Floor
Albany, NY 12224-0341

Thomas C. Home
Arizona Attorney General
1275 W. Washington St.
Phoenix, AZ 85007-2926

Roy A. Cooper, III
North Carolina Attorney General
9001 Mail Service Center
Raleigh, NC 27699-9001

Kamala D. Harris
California Attorney General
1300 I St., Ste. 1740
P.O. Box 944255
Sacramento, CA 95814

Mike DeWine
Ohio Attorney General
State Office Tower,
30 E. Broad Street, 14th Floor
Columbus, OH 43215

John W. Suthers
Colorado Attorney General
1300 Broadway, 10th Floor
Denver, CO 80203

Kathleen Kane
Pennsylvania Attorney General
Strawberry Square
16th Floor
Harrisburg, PA 17120

George C. Jepsen
Connecticut Attorney General
55 Elm Street
Hartford, CT 06106
Joseph R. Biden, III
Delaware Attorney General
Carvel State Office Bldg.
820 N. French Street
Wilmington, DE 19801
Irvin B. Nathan
District of Columbia Attorney General
441 4th Street, NW, Suite 1106
Washington, DC 20001
John Jay Hoffman
New Jersey Acting Attorney General
Richard J. Hughes Justice Complex
25 Market Street, 8th Floor
Trenton, NJ 08625-0080

Alan Wilson
South Carolina Attorney General
Rembert Dennis Building
1000 Assembly Street, Room 519
Columbia, SC 29201
Robert E. Cooper, Jr.
Tennessee Attorney General
425 5th Avenue, North #2
Nashville, TN 37243
Pam Bondi
Florida Attorney General
The Capitol PL-01
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Lawrence G. Wasden
Idaho Attorney General
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P.O. Box 83720
Boise, ID 83720-0010

Lisa Madigan
Illinois Attorney General
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Luther Strange
Alabama Attorney General
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Douglas F. Gansler
Maryland Attorney General
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Michael C. Geraghty
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Catherine Cortez Masto
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Gregory W. Abbott
Texas Attorney General
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William H. Sorrell
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Sam Olens
Georgia Attorney General
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David M. Louie
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Kenneth T. Cuccinelli, II
Virginia Attorney General
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Greg Zoeller
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Bob Ferguson
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Thomas J. Miller
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J.B. Van Hollen
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Wisconsin Department of Justice
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Chris Koster
Missouri Attorney General
Supreme Court Building
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Tim Fox
Montana Attorney General
Department of Justice
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Jon Bruning
Nebraska Attorney General
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Joseph A. Foster
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Gary K. King
New Mexico Attorney General
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Wayne Stenehjem
North Dakota Attorney General
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E. Scott Pruitt
Oklahoma Attorney General
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Derek Schmidt
Kansas Attorney General
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John W. Conway
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James D. Caldwell, Sr.
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Janet T. Mills
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Martha Coakley
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