Opinion
Master File 02 Civ. 3288 (DLC).
March 9, 2005
ORDER REGARDING CLASS MEMBERSHIP
On November 12, 2004, this Court issued a Final Judgment Approving Settlement and Dismissing Action Against the Citigroup Defendants (the "Final Judgment"), granting final approval to a settlement of the class action between Lead Plaintiff and the Class and the Citigroup Defendants. Paragraph four of the Final Judgment states that "all persons and entities who timely filed a valid request for exclusion from the Class" are excluded from the Class as defined in the Final Judgment. This Order addresses which persons and entities are excluded from the Class by operation of this provision of the Final Judgment. First, appended to this Order as Exhibit A is a copy of the final list of all persons and entities (14,220) who timely filed a valid request for exclusion and who are therefore excluded from the Class.
Second, by Order dated September 15, 2004, this Court approved a request by Lead Plaintiff to transmit a letter to certain individuals who, prior to September 1, 2004, submitted both a request for exclusion from the class and a proof of claim form (the "Court-approved letter"). 468 persons and entities mailed a copy of the Court-approved letter filed a request to revoke their previously-filed requests for exclusion after the September 1, 2004 deadline to file such revocations. Those 468 persons and entities are listed on Exhibit B, appended to this order. It is hereby ORDERED that each of these persons and entities is deemed to have timely revoked their previous requests for exclusion and is therefore deemed a member of the class. Each of the persons and entities listed on Exhibit B, accordingly, may file a proof of claim and is eligible to obtain funds recovered on behalf of the class.
Third, 105 persons and entities submitted requests for exclusion that were postmarked after the September 1, 2004 deadline to submit such requests. Those 105 persons and entities are listed on Exhibit C appended to this Order. It is hereby ORDERED that the requests for exclusion submitted by each of these persons and entities are deemed untimely and each such person or entity is deemed a member of the class.
In order to provide notice to the persons and entities listed on Exhibit C of this Order and their inclusion in the Class, Lead Plaintiff is hereby ORDERED to transmit, within ten days of the date of this Order, to each of the persons and entities listed on Exhibit C: (1) a copy of this Order; (2) a cover letter briefly explaining the consequences of this Order, and stating that with respect to such persons, the deadline for submission of Proof of Claim and Release forms has been extended for twenty-one days from the date of the transmittal letter; and (3) a Proof of Claim and Release form.
Fourth, 67 persons and entities submitted requests to revoke their prior requests for exclusion that were postmarked after the September 1, 2004 deadline to submit such requests. Those 67 persons and entities are listed on Exhibit D appended to this Order. It is hereby ORDERED that each of these persons and entities is deemed a member of the class. Each of the persons and entities listed on Exhibit D, accordingly, may file a proof of claim and is eligible to obtain funds recovered on behalf of the class.
SO ORDERED.