Frequently Asked Questions

 

The following are “Frequently Asked Questions” about the settlement.

If you do not find an answer to your question here:

  • Documents such as the Stipulation of Settlement and Preliminary Approval Order can be found by clicking here.
  • You can write Class Counsel at settlementquestions@labaton.com.
Am I being sued?

No, you are not being sued. You have been identified as a potential class member in a class action lawsuit.

For more information about the requirements for participating in this settlement, please visit the Notice.

Why did I get this notice?

You have been identified by a broker or Spectrum as potentially being a class member. Although we do not have your trading records, you may have purchased or acquired publicly traded Spectrum common stock (including through the exercise of warrants or options) and/or call options, and/or sold publicly traded Spectrum put options, during the period from August 8, 2012 through March 12, 2013, inclusive, and were allegedly damaged thereby.

How do I know if I am part of the Settlement Class?

You are a Settlement Class Member only if you individually purchased or acquired publicly traded Spectrum common stock (including through the exercise of warrants or options) and/or call options, and/or sold publicly traded Spectrum put options during the Class Period. Please check your trading records. If you do not have them, ask your broker for copies.

What does the Settlement provide?

In exchange for the Settlement and the release of the Released Claims against the Released Defendant Parties, Defendants have agreed to create a Seven Million Dollar ($7,000,000.00) cash fund, which will earn interest, to be distributed, after deduction of Court-approved attorneys’ fees and expenses, settlement administration costs, and any applicable Taxes (the “Net Settlement Fund”) among all Settlement Class Members who submit valid Claim Forms and are found by the Court to be entitled to a distribution from the Net Settlement Fund (“Authorized Claimants”).

Do I have a lawyer in this case?

The Court appointed the law firm of Labaton Sucharow LLP to represent all Settlement Class Members. These lawyers are called Lead Counsel. You will not be separately charged for these lawyers. The Court will determine the amount of Plaintiffs’ Counsel’s fees and expenses, which will be paid from the Settlement Fund. If you want to be represented by your own lawyer, you may hire one at your own expense.

Should I get my own lawyer?

You are not required to hire an attorney because Lead Counsel is working on behalf of your interests. However, if you wish to retain an attorney, you may do so at your own expense.

What if I have more questions?

If you still have unanswered questions, please contact the Claims Administrator by calling toll-free 1-844-449-3580, by emailing info@spectrumsecuritiessettlement.com, or by viewing the Case Documents, located here.