Anwar et al v. Fairfield Greenwich Limited et al

Filing 1446

REPLY AFFIDAVIT of Jason Rabe in Support re: #1417 MOTION for Attorney Fees and Expenses in Connection with Settlement.. 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. (Finkel, Robert)

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.

SUPPLEMENTAL AFFIDAVIT OF JASON RABE
REGARDING CITCO CLASS ACTION NOTICE

STATE OF MINNESOTA
COUNTY OF HENNEPIN

)
) ss:
)

JASON RABE, being first duly sworn, deposes and says:
1.

I submit this supplemental affidavit to provide the Court with updated information

regarding, among other things, 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 Proof of Claim”)
(together, the “Citco Notice Packet”) and the receipt of requests for exclusion from the
Settlement Class. I am a Program Manager for Rust Consulting, Inc. (“Rust”), the Courtappointed Claims Administrator. 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.

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2.

On September 29, 2015, I executed my original affidavit (the “Initial Affidavit”)

that was filed with the Court on October 6, 2015 [Dkt No. 1424], attesting, among other things,
to the mailing of the Citco Notice Packet and the publication of the Summary Notice once each
in the international editions of The Wall Street Journal and the dissemination of the Summary
Notice for worldwide distribution, including North America, over PR Newswire.
3.

As more fully stated in my Initial Affidavit (at ¶10), as of September 25, 2015, Rust

had mailed a total of 4,394 Citco Notice Packets to potential Class Members. Since my Initial
Affidavit was executed, during the period from September 26, 2015 through November 5, 2015,
inclusive, in response to correspondence or inquiries from potential Class Members and record
holders, Rust has mailed an additional 36 Citco Notice Packets to potential Class Members.
Accordingly, as of close of business November 5, 2015, we have mailed a total of 4,430 Citco
Notice Packets to potential Class Members.
4.

As stated in my Initial Affidavit (at ¶13), on August 27, 2015, Rust posted the 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, on a
website

dedicated

to

the

Citco

Settlement

and

to

the

Anwar

litigation

(www.FairfieldGreenwichLitigation.com). From August 27, 2015 through November 5, 2015,
the Website has had 4,540 total hits.
5.

Rust operates a toll-free telephone hotline [phone]), 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, as
stated in my Initial Affidavit (at ¶14). From August 27, 2015, the date of initial mailing of the

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Citco Notice Packet, through November 5, 2015, Rust has received 159 calls on these lines, of
which 109 callers requested and spoke with a live operator for assistance.
6.

As stated in ¶15 of my Initial Affidavit, the Notice informed Class Members that

the deadline for requesting exclusion from the Class was October 16, 2015. Rust has received a
total of 566 timely and complete Requests for Exclusion from the Class. The names of these 566
Persons will be included in Exhibit 1 to the proposed Final Judgment of Dismissal with Prejudice
(to be filed under seal).
7.

In addition, Rust received two (2) timely Requests for Exclusion from the Class;

however, those claimants subsequently revoked their Requests so that their names will not be
included on Exhibit 1 to the Final Judgment. 
8.

In addition, as of close of business November 5, 2015, Rust had received four (4)

late Requests for Exclusion from the Class. Paragraph 14 of the Preliminary Approval Order
required that any requests for exclusion be “received by the Claims Administrator … on or
before 35 days prior to the Settlement Hearing [i.e., October 16, 2015].” The four (4) late
Requests for Exclusion from the Class were received between October 19, 2015 and November
5, 2015. The dollar value of the claims reflected in the four (4) late Requests for Exclusion from
the Class calculates to an aggregate Net Loss of principal of $1,015,611.89. At the direction of
Plaintiffs’ Lead Counsel, subject to court approval, we have accepted these Requests for
Exclusion, and will identify these class members on Exhibit 1 to the Final Judgment.
10.

Complete copies of all 570 Requests for Exclusion, including all supporting

documentation, were provided to Plaintiffs’ Lead Counsel.

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