Your share of the Net Settlement Fund will depend on several factors, including: how many Settlement Class Members submit valid Claim Forms; the total Recognized Losses represented by the valid Claim Forms; the number of shares of Puda common stock or call options that you purchased or put options that you sold during the Settlement Class Period; how much you paid for the shares; when you purchased; and if you sold your shares and, if so, for how much. The method by which the Claims Administrator will determine your share of the Net Settlement Fund is described in Exhibit B. Defendants are not entitled to get back any portion of the Settlement Fund if and when their Settlement becomes effective.
Plaintiffs’ damages expert has opined that approximately 12.7 million shares of Puda common stock have been damaged as a result of the allegedly wrongful conduct. Thus, assuming that the owners of all affected shares elect to participate, the average per share recovery from the combined Settlement Fund would be approximately $0.68 per damaged share. After payment of the requested legal fees, expenses and Reimbursement Awards, the Settlement Fund would be approximately $0.31 per damaged share. Option traders should review the Plan of Distribution, set out in Exhibit B, for their personal recovery.
I did a little research. If I am correct the deadline is May 16 to file a claim. Found this site........Once again the mention of the Secondary Offering ?
Welcome to the informational website for
the Macquarie Capital Fair Fund and Puda Coal Securities Litigation.
This website is meant to provide information on two separate matters:
Fair Fund: a Fair Fund established by the Court pursuant to Section 308(a) of the Sarbanes–Oxley Act of 2002, as amended, in SEC v. Macquarie Capital (USA) Inc., et al., No. 15cv2304 (S.D.N.Y.) (DLC) (“Fair Fund ”); and
Class Action Settlements: Funds paid to settle claims in the class action lawsuit (“Class Action”) In re Puda Coal Securities Inc. Litigation, No. 11cv2598 (S.D.N.Y.) (DLC) (“Class Action Settlements”).
There are separate Proofs of Claim for each proceeding. You do not need to file your trade documentation twice but you do need to file two claims if you are eligible and want to participate in both proceedings. If you did not purchase shares of Puda Coal in the Secondary Offering you are not eligible for the Fair Fund, but you may still be eligible for the Class Action.
No, but I haven't done anything, have not contacted anyone or joined any lawsuit. I am under the impression ameritrade will contact me. Hope so, I don't want to miss out on the 6 dollars and 32 cents I might get back. Just enough to buy me a Happy meal at McDonalds.