If You Purchased Or Acquired Tycom Ltd. (“Tycom”) Common Stock (TCM) Between July 26, 2000 And December 17, 2001, You Could Receive A Payment From A Class Action Settlement.
A class action settlement has been reached in a class action lawsuit pending against TyCom Ltd. (“TyCom”), and Tyco International Ltd. (“Tyco”) and Underwriter Defendants, consisting of Goldman, Sachs & Co. (“Goldman”), Merrill Lynch & Co. (“Merrill”) and Salomon Smith Barney Inc. (“Salomon”) (n/k/a Citigroup Global Markets (“Citigroup”)) (collectively “Defendants”) in the the United States District Court for the District of New Jersey (styled Rosemarie Stumpf et al. v. Neil R. Garvey, et al. (In re TyCom Ltd. Securities Litigation), Civil Action Case No. 03-CV- 03540), alleging that TyCom made materially false and misleading statements and omissions regarding the business operations of TyCom and the prospects of TyCom’s new global network of undersea cable (the “TGN”), in particular concerning the demand for undersea bandwidth and the oversupply of undersea bandwidth that existed for the foreseeable future, according to the TyCom class action settlement notice.
The TyCom securities class action lawsuit settlement reportedly provides that TyCom has agreed to pay $79 million in cash; the balance of this class action settlement fund after payment of Court-approved attorneys’ fees and expenses and the costs of claims administration, including the costs of printing and mailing notice and the cost of publishing newspaper notice (the “Net Settlement Fund”) will be divided among all eligible settlement class members who timely send in valid claim forms.
The TyCom settlement class reportedly includes all persons or entities who purchased or otherwise acquired shares of TyCom Ltd. during the period July 26, 2000 through December 17, 2001.
A class action settlement hearing is scheduled to be held at 1:00 p.m., on August 25, 2010, at the Clarkson S. Fisher Building & U.S. Courthouse, 402 East State Street, Room 4E, Trenton, New Jersey, for the Court to consider, among other things, whether the settlement is fair, reasonable and adequate.
For more information on the TyCom securities class action lawsuit settlement and potential settlement benefits, visit the TyCom Securities Litigation website:
tycomsecuritieslitigation.com
If You Have Thoughts On The TyCom Securities Class Action Lawsuit Settlement, Share Your Settlement Comments Below.
Claim Number : 1226162
CGM IRA CUSTODIAN
MGD ACCT SBAM DIRECT
TyCom Ltd. Common Stock
Class Period 7/26/2000 through 12/17/2001
Just got a notice of rejection of entire claim: reason being that I did not sign claim form and release. You have to get it first.
Is this a Joke or what?
You want me to remember back to the year of 2000 as to what I may have had through Smith Barney.
Either send me what I have got coming or forget it.
It appears the only people who will be getting anything from this will be the lawyers anyway.
James Sokol