January 11, 2016

Wolf Popper LLP Obtains Final Approval of $125 Million Partial Settlement With Citco Defendants

Wolf Popper LLP Obtains Final Approval of $125 Million Partial Settlement With Citco Defendants

Wolf Popper LLP, along with co-lead counsel in Anwar v. Fairfield Greenwich Limited, 09-cv-118 (VM) (FM) (the “Action”), has obtained final approval of the Stipulation of Settlement with defendants affiliated with The Citco Group Limited (collectively, the “Citco Defendants”).  The Stipulation of Settlement resolves all claims asserted in the Action against the Citco Defendants in exchange for a payment of $125,000,000 to be distributed to the Settlement Class.  The Final Order approving the Citco Settlement was entered November 20, 2015. The last day to file claims to participate in the Citco Settlement was December 28, 2015. Further information concerning the Citco Settlement is available in the Notice Of Proposed Partial Settlement Of Class Action and Settlement Fairness Hearing and on the settlement website (www.fairfieldgreenwichlitigation.com).

Separately, plaintiffs in the Anwar litigation have entered into a $55,000,000 Settlement Agreement of their claims against Defendants PwC Netherlands and PwC Canada.  On January 7, 2016, the District Court entered a Preliminary Approval Order scheduling a hearing on final approval of the PwC Settlement for May 6, 2016 at 9:30 a.m. Claim forms to participate in the PwC Settlement must be submitted to the Claims Administrator by May 23, 2016. A detailed Class Notice and Proof of Claim will be mailed to class members and posted on this website and the settlement website (www.fairfieldgreenwichlitigation.com) on January 22, 2016.

Settlements were previously entered into with defendants Fairfield Greenwich Limited and affiliated entities and individuals for $80,250,000 ($30,000,000 of which remains in escrow and may be distributed to Authorized Claimants subject to certain conditions) and GlobeOp Financial Services LLC for $5,000,000.