Anwar et al v. Fairfield Greenwich Limited et al

Filing 823

ORDER PRELIMINARILY APPROVING SETTLEMENT AND PROVIDING FOR NOTICE: IT IS HEREBY ORDERED, this 10th day of February 2012, that: 1. Capitalized terms used herein have the meanings defined in the Stipulation. 2. Pursuant to Rule 23(a) and (b)(3) of the Federal Rules of Civil Procedure and for the purposes of the Settlement only, the Action is hereby preliminarily certified as a class action on behalf of all customers of both EFG Capital and EFG Bank who (i} subscribed for shares of Fairfield Sentry through EFG Capital, (ii) held all or a portion of their shares on December 11, 2008, and (iii) did not receive redemptions in excess of their investments in Fairfield Sentry (the "Settling Class"). Excluded from the Settling Class are: a. Present and former officers and/or directors of EFG Capital; b. Those Persons who file a valid and timely Request for Exclusion from the Settling Class in accordance with this Preliminary Approval Order (excluding any Requests for Exclusion that may have been validly retracted); and c. Those Arbitration Claimants who do not file a valid and timely Request for Inclusion in the Settling Class in accordance with this Order (excluding any Requests for Inclusion that may have been validly retracted), as further set forth in this order. A hearing (the "Final Settlement Hearing") pursuant to Federal Rule of Civil Procedure 23(e) is hereby scheduled to be held before the Court on June 1, 2012, at 2:00 p.m. for the following purposes set forth in this order. (Signed by Judge Victor Marrero on 2/10/2012) (lmb)