Scott+Scott Attorneys at Law LLP and Lowey Dannenberg, P.C. Announce a Notice of Settlement For All Persons or Entities Who Entered into GSE Bond Transactions

NEW YORK, Dec. 18, 2019 /PRNewswire/ -- 

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, HEARING ON
ADDITIONAL PROPOSED SETTLEMENT AND ATTORNEYS' FEES PETITION,
AND RIGHT TO SHARE IN NET SETTLEMENT FUND

If you entered into a GSE Bond Transaction with one or more Defendants from January 1, 2009 through and including January 1, 2019 ("Settlement Class Period"), you may be affected by a new and additional pending class action settlement.

This Summary Notice is to alert you to a new and additional proposed settlement reached with Goldman Sachs & Co. LLC ("Goldman Sachs"). Goldman Sachs denies any liability, fault, or wrongdoing of any kind in connection with the allegations in the Action. Goldman Sachs has agreed to pay a total of $20 million into a settlement fund. This is separate from the earlier settlements reached with Deutsche Bank Securities Inc ("Deutsche Bank"), and First Tennessee Bank, N.A. and FTN Financial Securities Corp. (together, "FTN"). The litigation is continuing against Barclays Capital Inc.; BNP Paribas Securities Corp.; Citigroup Global Markets Inc.; Credit Suisse Securities (USA) LLC; J. P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Inc.; TD Securities (USA) LLC; Nomura Securities International, Inc.; HSBC Securities (USA) Inc.; Cantor Fitzgerald & Co.; SG Americas Securities LLC; Morgan Stanley & Co., LLC; and UBS Securities LLC ("Non-Settling Defendants," and collectively with Deutsche Bank, FTN, and Goldman Sachs, "Defendants"). Defendants deny all allegations of wrongdoing.

The Court has appointed the lawyers listed below to represent the Settlement Class in this Action:

Who Is a Member of the Settlement Class?

Subject to certain exceptions, the proposed Settlement Class consists of all persons and entities who or which entered into a GSE Bond Transaction with one or more Defendants or a direct or indirect parent, subsidiary, affiliate, or division of a Defendant during the Settlement Class Period.

"GSE Bond Transaction" means any purchase, sale, or other transaction in the secondary market with respect to any GSE Bond. "GSE Bond" means any and each unsecured bond or debt instrument (i.e., senior debt, subordinated debt, and junior subordinated debt) regardless of currency or credit quality, issued by Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Farm Credit Banks, and Federal Home Loan Banks.

The other capitalized terms used in this Publication Notice are defined in the detailed Notice of Pendency of Class Action, Hearing on Additional Proposed Settlement and Attorneys' Fees Petition, and Right to Share in Net Settlement Fund ("Notice") and the Stipulation, which are available at www.GSEBondAntitrustSettlement.com.

If you are not sure if you are included in the Settlement Class, you can get more information, including the detailed Notice, at www.GSEBondAntitrustSettlement.com or by calling toll-free 1-877-317-7944 (if calling from outside the United States or Canada, call 1-414-961-6546).

Will I Get a Payment?

If you are a member of the Settlement Class and do not opt out, you will be eligible for a payment under the Settlement if you file a proof of claim form ("Claim Form"). The Settlement and Plan of Distribution have been preliminarily but not finally approved by the Court. You also may obtain more information at www.GSEBondAntitrustSettlement.com or by calling toll-free 1-877-317-7944 (if calling from outside the United States or Canada, call 1-414-961-6546).

Claim Forms must be submitted online at www.GSEBondAntitrustSettlement.com on or before 11:59 p.m. Eastern time on February 5, 2020.

You do not need to do anything if you submitted a timely and valid claim form in connection with the Deutsche Bank and FTN settlements. Any such submission will be treated as a valid and timely Claim Form with respect to this Settlement. If you are unsure whether you did so, please contact the Claims Administrator.

What Are My Rights?

If you are a member of the Settlement Class and do not opt out, you will release certain legal rights against Goldman Sachs and the other Released Parties, as explained in the detailed Notice and Stipulation, which are available at www.GSEBondAntitrustSettlement.com. If you do not want to take part in this Settlement, you must opt out by January 16, 2020. You may object to this Settlement, Plan of Distribution, and/or application for an award of attorneys' fees, Litigation Expenses, and any service awards for Plaintiffs. If you want to object, you must do so by January 16, 2020. Information on how to opt out or object is contained in the detailed Notice, which is available at www.GSEBondAntitrustSettlement.com.

When Is the Settlement Hearing?

The Court will hold a hearing at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., Courtroom 14B, New York, NY 10007, on February 28, 2020 at 2:00 PM to consider whether to approve this Settlement, Plan of Distribution, and application for an award of attorneys' fees, Litigation Expenses, and any service awards for Plaintiffs. You or your lawyer may ask to appear and speak at the hearing at your own expense, but you do not have to.

For more information, call toll-free 1-877-317-7944 (if calling from outside the United States or Canada, call 1-414-961-6546) or visit www.GSEBondAntitrustSettlement.com.

**** Please do not call the Court or the Clerk of the Court for
information about the Settlement. ****

SOURCE Scott+Scott Attorneys at Law LLP; Lowey Dannenberg, P.C.