On May 2, 2014, the Honorable Pamela K. Chen in the Eastern District of New York entered a Preliminary Approval Order (the “Order”) scheduling a hearing to be held on July 24, 2014 at 10:00 a.m. in order to consider final approval of a Stipulation and Agreement of Settlement (the “Settlement”) in Plumbers’ & Pipefitters’ Local #562 Supplemental Plan & Trust et al. v. J.P. Morgan Acceptance Corp. I et al., 2:09-cv-01713 (PKC) (WDW) (the “Action”). The Settlement reached by Lead Plaintiff the Public Employees’ Retirement System of Mississippi, on behalf of the Class (as defined in the Order), will resolve the Action for a total of $280 million in cash.
Additional information about the Settlement is available in the Notice of Pendency of Class Action and Proposed Settlement, Final Approval Hearing, and Motion for Attorneys’ Fees and Reimbursement of Litigation Expenses. Those investors in the Settlement Class are required to submit a Proof of Claim and Release by September 6, 2014 in order to participate in the distribution of assets from the Settlement Fund.
More information, including information related to the Plan of Allocation, is available on the Settlement website.