If You Purchased Or Otherwise Acquired DaimlerChrysler AG (“DaimlerChrysler”) Common Stock During The Following Time Periods: (1) March 19, 1999 Through March 26, 1999, (2) April 6, 1999 Through April 12, 1999, And/Or (3) June 3, 1999 Through June 15, 1999, And Were Damaged Thereby, You May Be Eligible To Receive A Payment From A Class Action Settlement.
A class action settlement has been reached in a class action lawsuit pending against Tracinda Corporation and certain Tracinda employees (collectively “Defendants”) in the United States District Court for the Central District of California (styled Donald Johnson v. James D. Aljian, Kirk Kerkorian and Tracinda Corporation, Case No. CV 03-5986 DMG (PJWx)) alleging that defendants violated Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 promulgated thereunder, Section 20(a) of the Exchange Act, and Section 20A of the Exchange Act, according to the DaimlerChrysler AG Tracinda securities class action settlement notice.
The DaimlerChrysler AG | Tracinda class action complaint reportedly alleges that a Tracinda executive and long-time confidant of the owner of 100% of Tracinda’s voting shares, knowingly obtained material, non-public information regarding a substantial projected decline in cash flow at DaimlerChrysler and “tipped” this material, non-public information to the owner of Tracinda’s voting shares, and that thereafter this employee executed sales of over $600 million worth of Tracinda’s holdings in DaimlerChrysler common stock to members of the DaimlerChrysler class.
The DaimlerChrysler Tracinda class action settlement reportedly provides, among other things, for the establishment of an $8,100,000 Daimler Chrysler Tracinda Gross Settlement Fund that, after payment of Court-approved attorneys’ fees and expenses, Court-approved reimbursement to the Class Representatives, the costs of claims administration, including the costs of printing and mailing Notice and the cost of publishing notice, and other amounts as may be provided by the Settlement, will be divided among all Daimler Chrysler Class Members who timely submit valid Proofs of Claim.
For more information on the DaimlerChrysler Tracinda class action lawsuit settlement and potential settlement benefits, call the DaimlerChrysler Tracinda Claims Administrator at 1-888-291-8049 or read the Daimler Chrysler AG Tracinda securities class action settlement notice.
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