Initial Mailing of Notice and Claim Form
- 03/28/13: Initial Mailing of Notice and Claim Form
June 3, 2013
June 7, 2013
June 7, 2013
Intention to Appear Deadline
June 27, 2013
July 27, 2013
Claims Filing Deadline
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.
Broadwind Securities Litigation
A proposed Settlement in the amount of $3,915,000 in cash has been reached in the action captioned Arthur L. Brasher. et al., v. Broadwind Energy, Inc., et al., Case No. 1:11-CV-00991 (the "Action") on behalf of all persons or entities who purchased common stock of Broadwind Energy, Inc. during the Class Period from March 16, 2009 through and including August 9, 2010 (the "Class").
A hearing will be held on June 27, 2013, at 10:00 a.m., before the Honorable James Zagel at the Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, Illinois, for the purpose of determining: (1) whether the proposed settlement of the claims in the Litigation for the sum of $3,915,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, thereafter, the Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement, dated March 6, 2013 ("Stipulation"); (3) whether the Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; and (4) whether the application of Plaintiffs' counsel for the payment of attorneys' fees and expenses, including expenses of Lead Plaintiff, incurred in connection with the Litigation should be approved.
If you are a Class Member, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than July 27, 2013. If you are a Class Member and do not submit a proper Claim Form, you will not share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgment or orders entered by the Court in the Action.
If you are a Class Member and wish to exclude yourself from the Class, you must submit a request for exclusion such that it is postmarked no later than June 3, 2013, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Class, you will not be bound by any judgment or orders entered by the Court in the Action and you will not be eligible to share in the proceeds from the Settlement.