Declaration of K. Rehns in Support of Plaintiffs' Motion for - Lehman ...

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Case 1:09-md-02017-LAK Document 666-1 Filed 01/13/12 Page 35 of 74 Example 2: Investor C purchased $100,000.00 Face Value of Certificate 525227AA2 (LXS 2005-GP2 1A1A) on September 25, 2006. The purchase price was 100.00. On October 13, 2009 (after the applicable Date of First Suit), Investor C sold $90,000.00 Face Value of Certificate 525227AA2. The sales price was 95.00. The value on the applicable Date of First Suit was 94.06, as reflected in Table A. Investor C’s Recognized Loss Amount is calculated as follows: $90,000 x (100.00 – 95.00)/100 Investor C’s Recognized Loss Amount is $4,500.00. Example 3: Investor B purchased $100,000.00 Face Value of Certificate 39538AAA4 (GPMF 2006-AR5 A1A) on December 5, 2006. The purchase price was 100.00. On October 30, 2008 (after the applicable Date of First Suit), Investor B sold $90,000.00 Face Value of Certificate 39538AAA4. The sales price was 86.00. The value on the applicable Date of First Suit was 87.64, as reflected in Table A. Investor B’s Recognized Loss Amount is calculated as follows: $90,000 x (100.00 – 87.64)/100 Investor B’s Recognized Loss Amount is $11,124.00. If a sale did not result in a complete disposition of an investor’s ownership in a particular Certificate (i.e., only a portion of the Certificate was sold), a Recognized Loss Amount, if any, related to the remaining portion of the Certificate will be calculated separately. 41. Certificates That Were Not Sold: For each Eligible Certificate that was not sold (i.e., the Eligible Certificate is still held by the Authorized Claimant), the Recognized Loss Amount or Gain is calculated as follows: Face Value at the applicable Date of First Suit x (purchase price-value at applicable Date of First Suit)/100) For Certificates that were not sold, the Face Value at the applicable Date of First Suit is calculated as follows: Face Value purchased x Factor on the applicable Date of First Suit /Factor on the purchase date Example 4: Investor D purchased $100,000.00 Face Value of Certificate 39538AAA4 (GPMF 2006-AR5 A1A) on December 5, 2006. Investor D did not sell its Certificates. The purchase price was 100.00. The factor on the purchase date was 1.00. As reflected in Table A, the value on 21
Case 1:09-md-02017-LAK Document 666-1 Filed 01/13/12 Page 36 of 74 the applicable Date of First Suit was 87.64, and the factor on the applicable Date of First Suit was .69436. Investor D’s Face Value at the applicable Date of First Suit is calculated as follows: Face Value at the applicable Date of First Suit = $100,000.00 x (.69436/1.00) = $69,436.00 Using the resulting Face Value at the applicable Date of First Suit (i.e., $69,436), Investor D’s Recognized Loss Amount is calculated as follows: $69,436 x (100.00 – 87.64)/100 Investor D’s Recognized Loss Amount is $8,582.29. 42. Notwithstanding the above provisions, the Recognized Gain or Loss Amount for any purchases or acquisitions that occurred after the applicable Date of First Suit (as indicated in Table A) is zero. 43. As discussed in 23, The Court previously dismissed certain of the claims that were asserted by the Intervenor Plaintiffs on behalf of certain Class Members. Those dismissed claims are currently on appeal and have been included in this settlement, subject to the Intervenors’ agreement to withdraw that appeal. The appeal will be dismissed as part of the Settlement when finally approved. Because those claims were previously dismissed, there is an additional risk that the Intervenors might not prevail on those claims. Accordingly, the Recognized Loss Amount for purchases or acquisitions of Certificates for which the claims have been dismissed will be discounted by 40% to reflect the lesser likelihood of success on the dismissed claims. The dismissed claims are for purchases or acquisitions of Certificates (identified by CUSIP in the attached Table A as Dismissed Claims) in the following eight Offerings: LXS 2005-8, LXS 2006-16N, FFMLT 2006-FFB, SARM 2006-4, SARM 2007-6, SASCO 2007-BC1, SASCO 2007-EQ1 and SASCO 2007-OSI (the “Dismissed Certificates”). 44. A “Total Recognized Loss By CUSIP” will be calculated for each Authorized Claimant on a CUSIP by CUSIP basis. Accordingly, multiple transactions by an Authorized 22
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Declaration of K. Rehns in Support of Plaintiffs' Motion for - Lehman ...

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