Welcome!

News Feed Item

If You Purchased Municipal Derivative Transactions from January 1, 1992 to August 18, 2011 You Could Get a Payment from a Class Action Settlement

NEW YORK, Feb. 25, 2014 /PRNewswire-USNewswire/ -- The following is being released by Hausfeld LLP; Boies, Schiller & Flexner LLP; and Susman Godfrey L.L.P.

A partial Settlement has been reached with GE Funding Capital Market Services, Inc., Trinity Funding Co., LLC and Trinity Plus Funding Co., LLC (collectively, "GE"), one of the Defendants, in a class action lawsuit alleging price-fixing in the sale of municipal derivatives transactions. The case, In re Municipal Derivatives Antitrust Litigation, MDL No. 1950, No. 08-02516, is pending in the United States District Court for the Southern District of New York.

Class Members include all state, local and municipal government entities, independent government agencies, quasi-government, non-profit and private entities that purchased:

(a)    By negotiation, competitive bidding or auction municipal derivative transactions directly from an Alleged Provider Defendant or Co-Conspirator, or through an Alleged Broker Defendant or Co-Conspirator,

(b)   Any time from January 1, 1992 through August 18, 2011 in the U.S. and its territories or for delivery in the U.S. and its territories.

A list of the Alleged Provider and Broker Defendants and Co-Conspirators can be found at www.MunicipalDerivativesSettlement.com.

The Settlement affects only claims against GE. The case is continuing against the other non-settling defendants. GE has agreed to pay $18.25 million into an escrow account and will also provide information to the attorneys for the Class and cooperate in connection with claims against the non-settling defendants.

Class Members who wish to remain in the Settlement do not need to do anything now. If the Settlement is approved, they will need to submit a claim form in order to receive a payment.  Claim forms are not available right now. Class Members can register on the website to receive a claim form when it becomes available.  By remaining in the Settlement, Class Members will give up the right to sue GE for the claims in this class action.  However, they will still have the right to exclude themselves from any other class that may be certified in the case.

Class Members who do not wish to participate in the Settlement must send a written request to be excluded postmarked no later than May 6, 2014.  Class Members who request to be excluded will retain their right to sue GE on their own for the claims in this lawsuit.

Class Members who remain in the Class can object to or comment on the Settlement. They must file an objection with the Court and deliver a copy to Class Counsel and GE postmarked no later than May 6, 2014.

The Court has appointed the law firms of Hausfeld LLP; Boies, Schiller & Flexner LLP; and Susman Godfrey L.L.P as Class Counsel to represent all members the Class.  Class Members who want to be represented by their own lawyer may hire one at their own expense.

The Court has scheduled a hearing on June 6, 2014, at 10:00 a.m. at the U.S. District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007 to consider whether to approve the Settlement as fair, reasonable and adequate, and whether to approve Class Counsel's request for reimbursement of litigation expenses.

Class Members or their lawyers may ask to appear and speak at the hearing but they are not required to. Class Members who want to be heard by the Court must file a written request with the Court, and deliver a copy to Class Counsel and GE no later than May 6, 2014. The Court may change the time and date of the hearing. Any change will be posted on the settlement website.

For more information on this lawsuit, Class Member rights, or to obtain a list of defendants, call 1-877-310-0512, visit www.MunicipalDerivativesSettlement.com, or write to: Municipal Derivatives Settlement, c/o Rust Consulting, Inc., PO Box 2500, Faribault, MN 55021-9500.

SOURCE Hausfeld LLP; Boies, Schiller & Flexner LLP; and Susman Godfrey LLP

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...