St. Paul Teachers' Retirement Fund Association v. HeartWare International, Inc. et al

Filing 94

MEMO ENDORSEMENT on 93 withdrawing 88 Motion for Disbursement of Funds. ENDORSEMENT: Plaintiff's application to withdraw the motion for disbursement of funds pending at docket entry 88 is granted. The Clerk of Court is respectfully directed to terminate that motion. (Signed by Judge Ronnie Abrams on 7/31/2020) (rro)

Case 1:16-cv-00520-RA Document 93 Filed 07/24/20 Page 1 of 2
94
07/31/20

B E R NS T EI N LIT O WI T Z BE R GE R & G ROSS MA N N L LP
ATTORNEYS AT LAW
NEW YORK ● CALIFORNIA ● ILLINOIS ● LOUISIANA ● DELAWARE

JOHN RIZIO-HAMILTON
[e-mail]
212-554-1505

July 24, 2020
VIA ECF
The Honorable Ronnie Abrams, U.S.D.J.
Thurgood Marshall United States District Court
Southern District of New York
40 Foley Square, Room 2203
New York, NY 10007
Re:

In re HeartWare International, Inc Sec. Litig., No. 1:16-cv-00520-RA

Dear Judge Abrams:
We represent Lead Plaintiff St. Paul Teachers’ Retirement Fund Association in the abovereferenced securities class action. On April 3, 2020, Lead Counsel filed a Distribution Motion to
request Court approval to distribute the Heartware Net Settlement Fund to eligible Claimants
recommended for payment by the Claims Administrator. Our Motion can be located by the
following ECF reference numbers:
•

Notice of Lead Plaintiff’s Motion for Approval of Distribution Plan (ECF No. 88);

•

Memorandum of Law in Support of Lead Plaintiff’s Motion for Approval of
Distribution Plan (ECF No. 89);

•

Declaration of Richard Simmons in Support of Lead Plaintiff’s Motion for
Approval of Distribution Plan (ECF No. 90) with Exhibits A – F (ECF No. 90-1
through 90-6); and

•

Proposed Order Approving Distribution plan (ECF No. 91)

This Motion is currently pending before the Court. We are writing to request that the Court
not rule on the Motion at this time because we plan to withdraw it and file a new distribution
motion. We were informed yesterday by Analytics Consulting, LLC, the Court-appointed Claims
Administrator, that Analytics had made a calculation error on the Recognized Claim amounts for
certain Timely Eligible Claims (ECF No. 90-3) and Late but Otherwise Eligible Claims (ECF No.
90-4). As a result of this calculation error, some of the Recognized Claim amounts in the Motion
will have to be adjusted.
1251 AVENUE OF THE AMERICAS
●
NEW YORK
●
NY 10020-1104
TELEPHONE: [phone] ● www.blbglaw.com ● FACSIMILE: 212-554-1444

Case 1:16-cv-00520-RA Document 93 Filed 07/24/20 Page 2 of 2
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BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP

The Honorable Ronnie Abrams, U.S.D.J.
Southern District of New York
Page 2
Analytics has begun the process of performing the new calculations. Once the new
calculations are finished and have been audited, we will promptly submit a new Motion with the
corrected calculations.
Thank you for your attention to this matter.
Respectfully submitted,

John Rizio-Hamilton

cc:

All Counsel of Record

Plaintiff's application to withdraw the motion for disbursement of funds pending at docket entry
88 is granted. The Clerk of Court is respectfully directed to terminate that motion.
SO ORDERED.
____________________________________
Ronnie Abrams, U.S.D.J.
July 31, 2020