Notice Mailed to Intermediaries
- 02/15/13: Notice Mailed to Intermediaries
Can I participate in a securities lawsuit if I purchased
additional shares before or after the Class Period?
Yes. Normally, only those shares purchased during the Class Period will be subject to the litigation and have a Recognized Claim amount. However, shares you held prior to the Class Period may be used in matching sales during the Class Period on a first-in, first-out basis.
I acquired shares in my 401(k), IRA account or other
pension plan. Can I still participate?
In many instances, as long as the shares were purchased during the Class Period, you can participate. However, make sure the Plan is not filing a claim on behalf of all Plan purchases. If you are no longer in a Plan, ask the retirement plan administrator whether you should file on your own behalf. You will have to submit sufficient documentation and information of all applicable holdings, purchase and sale transactions.
What should I send in as documentation?
Documentation generally consists of copies of your brokerage statements or purchase and sale confirmation slips verifying the transactional information such as the security, the transaction date, the number of shares, the price per share and the total amount paid or received. The documentation should also show the name of the claimant. If you do not have these types of documents in your possession, you should consult your broker or financial advisor. Your monthly statements should show your holdings just prior to the Class Period and at the end of the Class Period.
What is a CUSIP number and ticker symbol?
A CUSIP number is a code used to identify securities sold in North America. They are 9 characters in length and are alphanumeric. A Ticker Symbol is a unique abbreviation used to identify specific securities that are traded on an open market or stock exchange.
Can I sell my stock after the Class Period and still be
part of the lawsuit?
Yes, in most cases. However, always refer to the Plan of Allocation in the Notice you received. In the majority of cases it is not necessary for you to retain ownership of the stock after the Class Period has expired to participate in the lawsuit.
If I made money on the stock, can I still
That depends on the Plan of Allocation. Sometimes transactions with gains have a zero recognized claim. In some actions, if your overall investment in a certain stock during the Class Period resulted in a loss (realized or not), you may participate in the lawsuit.
If I own a certain stock, am I part of the related
securities class action lawsuit?
Not necessarily. You must look at the Class definition. In some cases, if you purchased shares of the company's stock during the Class Period, you are a class member. In other cases, you may have had to hold the stock on a certain day or during a certain period.
A proposed settlement has been reached in the action captioned In re Direxion Shares ETF Trust, No. 09-8011 (KBF) (S.D.N.Y.) (the "Action"). A hearing will be held on May 10, 2013, at 2:00 p.m., before the Hon. Katherine B. Forrest at the Daniel Patrick Moynihan United States Courthouse, United States District Court for the Southern District of New York, Courtroom 15A, 500 Pearl Street, New York, NY 10007. The purpose of the hearing is for the Court to determine, among other things: (1) whether the proposed settlement of the claims asserted in the Action should be approved by the Court as fair, reasonable and adequate; (2) whether the Action should be dismissed with prejudice pursuant to the terms and conditions of the settlement; (3) whether the plan for distributing the proceeds of the settlement should be approved; (4) and whether the application of Class Counsel for the payment of attorneys' fees and reimbursement of expenses should be approved.
If you purchased Direxion Fund Shares from November 3, 2008 through April 9, 2009, inclusive, you must file a Proof of Claim in writing no later than May 17, 2013, to participate in the recovery. If you did not hold your shares for longer than two days, you are not entitled to share in the settlement proceeds.
If you believe you are a Class Member and wish to exclude yourself from the settlement, you must do so in writing no later than April 19, 2013. In order to be valid, a request for exclusion must: (i) set forth the name, address, and telephone number of the person or entity requesting exclusion; (ii) state that the person or entity "requests exclusion from the Class in In re Direxion Shares ETF Trust, Case No. 09-cv-8011 KBF"; (iii) be signed and dated by the person or entity requesting exclusion; and (iv) be postmarked no later than April 19, 2013. Requests for exclusion must be mailed to the Claims Administrator at the following address:
In re Direxion Shares ETF Trust
P.O. Box 60176
Philadelphia, PA 19102-0176