Anwar et al v. Fairfield Greenwich Limited et al

Filing 1424

AFFIRMATION of JASON RABE in Support re: #1422 Memorandum of Law in Support,. Document filed by Harel Insurance Company, Ltd., Pacific West Health Medical Center, Inc. Employee's Retirement Trust, Securities & Investment Company Bahrain, St. Stephen's School. (Attachments: #1 Exhibit A, #2 Exhibit B, #3 Exhibit C - Part 1 of 3, #4 Exhibit C - Part 2 of 3, #5 Exhibit C - Part 3 of 3, #6 Exhibit D)(Barrett, David)

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UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK PASHA S. ANWAR, et al., Plaintiffs, Master File No. 09-cv-118 (VM) (FM) v. FAIRFIELD GREENWICH LIMITED, et al., Defendants. AFFIDAVIT OF JASON RABE REGARDING (A) MAILING OF THE NOTICE AND PROOF OF CLAIM FORM; AND (B) PUBLICATION OF THE SUMMARY NOTICE STATE OF MINNESOTA COUNTY OF HENNEPIN ) ) ss: ) JASON RABE, being first duly sworn, deposes and says: 1. I am a Program Manager at Rust Consulting, Inc. (“Rust”). Rust was appointed Claims Administrator pursuant to paragraph 8 of this Court’s Order Preliminarily Approving Settlement and Providing for Notice of Proposed Settlement, dated August 13, 2015 (the “Preliminary Approval Order”) in connection with the Citco Settlement (“Citco Settlement”) obtained in the above-titled action (the “Action”). I have the responsibility for overseeing all aspects of the notice and claims administration services performed by Rust with respect to the Citco Settlement. 2. I respectfully submit this affidavit in order to provide the Court with information regarding, among other things: (i) the mailing of the Notice of Proposed Partial Settlement of Class Action and Settlement Fairness Hearing, and Motion for Attorneys’ Fees and Reimbursement of Expenses (the “Citco Notice”) and Proof of Claim and Release Form (“Citco 1 Proof of Claim”); and (ii) the publication of the Summary Notice. I am over 21 years of age and am not a party to this Action. I have personal knowledge of the facts set forth herein and, if called as a witness, could and would testify competently thereto. MAILING OF THE NOTICE AND PROOF OF CLAIM 3. The Court’s Preliminary Approval Order required Rust to, among other things, mail the Court-approved Citco Notice and Citco Proof of Claim (together, the “Citco Notice Packet”) to potential Settlement Class Members (“Class Members”). A true and correct copy of the Citco Notice Packet is attached hereto as Exhibit A. 4. Rust, as the Court approved Claims Administrator of the settlements in this Action with the Fairfield Greenwich (“FG”) Defendants as approved by the Court by Order dated March 25, 2013 (the “FG Settlement”) and GlobeOp Financial Services LLC (“GlobeOp”) as approved by the Court by Order dated November 22, 2013 (the “GlobeOp Settlement”), was provided the names and addresses of persons and entities who were record owners of shares or limited partnership interests in Fairfield Sentry Limited, Fairfield Sigma Limited, Fairfield Lambda Limited, Greenwich Sentry, L.P., and Greenwich Sentry Partners, L.P. (collectively the “Funds”) as of December 10, 2008.   5. Since the initial mailings of Notice Packets in the FG and GlobeOp Settlements, and during the normal course of administering the FG and GlobeOp Settlements, Rust has continually updated the settlement mailing list by: a. adding names and addresses of potential Class Members received from brokers and nominees; 2 b. updating potential Class Members’ addresses pursuant to their written requests; c. updating potential Class Members’ addresses as a result of receiving forwarding addresses from the United States Postal Service (“USPS”); and d. updating potential Class Members’ undeliverable addresses as a result of obtaining new addresses through an information supplier. 6. The mailing list for the Citco Settlement also included potential Class Members who filed eligible claims in the FG and/or GlobeOp Settlements and those who filed claims that were determined to be ineligible but could be cured by submitting additional information. 7. In preparation for mailing the Citco Notice Packet, Rust electronically scrubbed this name and address data to ensure adequate addressing and remove duplicative name and address records. 8. These actions led to the creation of a list of 4,298 name and address records that were used to mail the Citco Notice Packets. On August 27, 2015, Rust initiated the process of mailing Citco Notice Packets to the 4,298 potential Class Members. 9. Through September 25, 2015, Rust has received requests for an additional 96 Citco Notice Packets made directly by claimants or by record owners to be forwarded to beneficial owners. 3 10. Accordingly, through September 25, 2015, Rust has disseminated a total of 4,394 Citco Notice Packets to potential Class Members.1 PUBLICATION OF THE SUMMARY NOTICE 11. In accordance with the Preliminary Approval Order, Rust caused the Summary Notice to be published once each in the international editions of The Wall Street Journal on September 9 or September 10, 2015. Attached hereto as Exhibit B is a detailed schedule of said publications and as Exhibit C are samples of the notice as published. Also pursuant to the Preliminary Approval Order, Rust caused the Summary Notice to be transmitted for worldwide distribution, including North America, over PR Newswire on September 9, 2015. Attached hereto as Exhibit D are true and correct copies of the notice as distributed by PR Newswire together with letters confirming same. SETTLEMENT WEBSITE 12. Rust maintains a website, (the “Website”), that enables Class Members and other individuals to obtain information about the Citco Settlement, as well as the FG and GlobeOp Settlements, and to access important documents related to these Settlements and to the Anwar litigation. 13. The Website contains a listing of the deadlines for submitting a Citco Proof of Claim, requesting exclusion from the Class and objecting to the Citco Settlement, as well as the date, time and location of the Court’s Settlement Hearing. The Website also contains links to the                                                              1 In addition to the above, Rust is in the process of re-mailing 5 Citco Notice Packets to updated addresses provided by the USPS. The USPS (almost entirely passing on information from foreign postal services) returned an additional 88 Citco Notice Packets as undeliverable without forwarding addresses. Rust is in the process of locating new addresses, if available, through an information supplier to which Rust subscribes, and will promptly re-mail Citco Notice Packets to available updated addresses. 4 Citco Notice, Citco Proof of Claim, and important Court documents including the Preliminary Approval Order, Citco Stipulation of Settlement and decisions and orders of the Court. Since the August 27, 2015 mailing of the Citco Notice Packet, the Website has had 1,848 hits. TOLL-FREE TELEPHONE HOTLINE 14. Rust operates a toll-free telephone hotline (1-855-263-3450), and a direct dial line for international callers (1-612-359-7949), with an Interactive Voice Response System (“IVR”) and live operators to assist potential Class Members with questions about the Settlement. The IVR and recorded information are available 24 hours a day, 7 days a week. Live operators are available during regular business hours (Monday through Friday 9:00 a.m. to 5:30 p.m. (EST)). All calls to the toll-free telephone hotline and direct dial line have been responded to in a timely manner. Since the mailing of the Citco Notice Packet on August 27, 2015, Rust has received 84 calls on these lines, of which 60 callers requested and spoke with a live operator for assistance. REQUESTS FOR EXCLUSION AND OBJECTIONS RECEIVED TO DATE 15. The Citco Notice informs Class Members that the deadline for requesting exclusion from the Class is October 16, 2015. The Notice further instructs Class Members on how to properly submit a request for exclusion and the information which needs to be included in such request. 16. To date, Rust has not received any requests for exclusion from the Citco Settlement Class. If any requests for exclusion are received, they will be addressed in a supplemental submission to be filed with the Court after the October 16, 2015 deadline. 5

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