Joint Declaration of Lynn L. Sarko and Marc I ... - Cohen Milstein

equest the Court to adopt is attached to the [Proposed] Order and Final Judgment as Exhibit 2,
and it is discussed below in Section VI. In general terms, the Net Proceeds will be allocated to
Class members on a pro rata basis such that the amount received by each Class member will
depend on his or her calculated loss, relative to the losses of other Settlement Class members,
resulting from the Plans’ investments in Merrill Lynch stock. In this way, the Plan of Allocation
will distribute the Net Proceeds equitably based upon each Class member’s estimated loss.
d. Confirmation
42. The Settlement is contingent on Co-Lead Counsel’s “written confirmation after
completion of … confirmatory discovery … that the confirmatory discovery was adequate and
that the Settlement is fair, reasonable and adequate,” Settlement Stip. 8.1.3 5
, and is contingent
on the final approval of the settlement in the Securities Action. Settlement Stip. 8.1.6.
III. THE FORMS AND METHODS OF NOTICE EMPLOYED HERE SATISFY RULE 23
AND DUE PROCESS
43. In accordance with the Preliminary Approval Order, the Settlement Class has
been provided with ample and sufficient notice of this Settlement, including an appropriate
opportunity to voice objections. The notice plan fully informed Settlement Class members of the
lawsuit and the proposed Settlement, and enabled them to make informed decisions about their
rights.
44. The Parties’ notice plan, as approved by the Court and implemented by Co-Lead
Counsel, consisted of: (a) mailing of the Class Notice on April 6, 2009 to more than 70,000
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Written confirmation that confirmatory discovery was complete and such discovery was
adequate and the Settlement is fair, reasonable and adequate was provided to Defense Counsel
on June 26, 2009.
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