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Wolf Popper LLP, along with co-lead counsel in the matter of Anwar, et al., v. Fairfield Greenwich Limited, et al., 09-cv-118 (VM)(FM), has obtained Final Court Approval of the Stipulation of Settlement with defendants associated with the Fairfield Greenwich Group. The stipulated settlement resolves all claims asserted in the Action against the Fairfield Greenwich Group, and provides for a payment in the amount of $80,250,000, including a minimum of $50,250,000 to be distributed to the Settlement Class, and an additional $30,000,000 to be distributed if not used to resolve other claims.  Additional information on the Settlement is available in the Notice Of Proposed Partial Settlement Of Class Action and Settlement Fairness Hearing.  Settlement Class Members are required to submit a Proof of Claim and Release by April 17, 2013 to participate in the Settlement.
 
The settlement does not resolve Plaintiffs’ claims against Defendants PwC Netherlands, PwC Canada, the Citco entities, or GlobeOp, which Plaintiffs are continuing to litigate vigorously. On February 25, 2013, the District Court rendered a Decision and Order certifying the class action against the remaining defendants, but excluding from the definition of the class residents of France, Luxembourg, Israel, Kuwait, Korea, North Korea, Picairn, Tokelau, Mongolia, China, Liechtenstein, Japan, Oman, Taiwan, United Arab Emirates, Qatar, Saudi Arabia, Bosnia, Andorra, San Marino, Namibia, Monaco, Germany, and South Africa.  Residents of those countries are urged to contact class counsel with respect to their rights.

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