If You Purchased Or Otherwise Acquired Certain Bond Class Securities Issued By Wachovia From The Date They Were First Offered To The Public For Sale Through February 27, 2009, Your Rights May Be Affected By A Proposed Class Action Settlement.
A class action settlement has been reached in a class action lawsuit against Wachovia Corporation, Wachovia Capital Trust IV, Wachovia Capital Trust IX, Wachovia Capital Trust X, Wachovia Capital Markets, LLC, Wells Fargo Securities, LLC, A.G. Edwards & Sons, Inc., Wells Fargo & Company (“Wells Fargo”) (as successor-in-interest to Wachovia) and certain individuals (the “Wachovia Defendants”), KPMG and various Underwriters (collectively “Defendants”) in the United States District Court for the Southern District of New York (styled In re: Wachovia Preferred Securities and Bond/Notes Litigation, Master File No. 09 Civ. 6351 (RJS)) alleging, among other things, violations of the Securities Act of 1933 (the “Securities Act”) by various persons, including the Wachovia Defendants, the Underwriter Defendants, and KPMG, according to the Wachovia Preferred Securities & Bond & Notes Litigation class action lawsuit settlement notice.
The Wachovia Preferred Securities & Bond & Notes Litigation settlement class consists of the following persons, unless otherwise excluded:
All Persons who purchased or otherwise acquired Bond Class Securities during the time period from the first date on which any of the Bond Class Securities were offered through and including February 27, 2009 (“Settlement Class Period”), and were damaged thereby.
Bond Class Securities include the following securities issued by Wachovia Corporation:
- 6.375% Wachovia Capital Trust IV Trust Preferred Securities (CUSIP 92978U207)
- 6.375% Wachovia Capital Trust IX Trust Preferred Securities (CUSIP 92978X201)
- 7.85% Wachovia Capital Trust X Trust Preferred Securities (CUSIP 92979K208)
- 8.00% Non-Cumulative Perpetual Class A Preferred Stock, Series J (CUSIP 929903276)
- Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series K (CUSIP 929403243, later denominated 929903EF5)
- 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L (CUSIP 929903219)
- Three-Month LIBOR Floating Rate Notes Due August 1, 2013 (CUSIP 92976WBB1)
- 5.70% Notes Due August 1, 2013 (CUSIP 92976WBA3)
- Three-Month LIBOR Floating Rate Notes Due October 15, 2011 (CUSIP 929903CG5)
- 5.30% Notes Due October 15, 2011 (CUSIP 929903CF7)
- 5.625% Subordinated Notes Due October 15, 2016 (CUSIP 929903CH3)
- Three-Month LIBOR Floating Rate Subordinated Notes Due October 15, 2016 (CUSIP 929903CJ9)
- Three-Month LIBOR Floating Rate Senior Notes Due December 1, 2009 (CUSIP 92976WBC9)
- Three-Month LIBOR Floating Rate Notes Due April 23, 2012 (CUSIP 929903DF6)
- Three-Month LIBOR Floating Rate Notes Due June 15, 2017 (CUSIP 929903DU3)
- 5.75% Notes Due June 15, 2017 (CUSIP 929903DT6)
- Three-Month LIBOR Floating Rate Notes Due July 26, 2010 (CUSIP 92976WBD7)
- Three-Month LIBOR Floating Rate Notes Due August 20, 2009 (CUSIP 929903EC2)
- Three-Month LIBOR Floating Rate Notes Due November 24, 2009 (CUSIP 92976WBG0)
- 5.75% Notes Due February 1, 2018 (CUSIP 92976WBH8)
- 5.50% Fixed Rate Notes Due May 1, 2013 (CUSIP 92976WBJ4)
- Three-Month LIBOR Floating Rate Notes Due May 1, 2013 (CUSIP 92976WBK1)
Subject to approval by the Court, the Wachovia Preferred Securities & Bond & Notes Litigation will reportedly be settled for a total of $627 million in cash.
A Settlement Hearing will be held on November 14, 2011 at 4:00 p.m., before the Hon. Richard J. Sullivan at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 21C, New York, NY 10007-1312, to determine: among other things, whether the proposed Wachovia Preferred Securities & Bond & Notes Litigation Settlements are fair, reasonable and adequate, and should be approved by the Court.
For more information on the Wachovia Preferred Securities & Bond & Notes Litigation class action lawsuit settlement, visit the In Re: Wachovia Preferred Securities & Bond & Notes Litigation class action settlement website:
www.wachoviabondlitigation.com
If You Have Thoughts About The Wachovia Preferred Securities & Bond & Notes Litigation Class Action Settlement, Share Your Settlement Thoughts Below.
It appears as though all matters in the Wachovia Preferred Stock Class Action Suit have been settled. It would be noteworthy to the parties to receive an estimate as to when the settlement checks will be dispersed. If you have an estimate, it would be appropriate to show it on the web site. If you don’t have an estimate, it would be appropriate to show that also. Your telephone contact does not provide for settlement check information.