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 3 of 74 WHEREAS, the Court is familiar with and has reviewed the record in the Action and has reviewed the Stipulation, including the exhibits attached to the Stipulation, and found good cause for entering the following Order: NOW, THEREFORE, IT IS HEREBY ORDERED: 1. This order (the “Notice Order”) hereby incorporates by reference the definitions in the Stipulation, and all terms used herein shall have the same meanings as set forth in the Stipulation. 2. Pending further order of the Court, all litigation activity, except that contemplated herein, in the Stipulation, in the Notice of Pendency of Class Action and Proposed Settlement, Final Approval Hearing, and Motion for Attorneys’ Fees and Reimbursement of Litigation Expenses (the “Notice”) or in the Judgment, is hereby stayed and all hearings, deadlines and other proceedings in this Action, except the motion brought pursuant to Federal Rule of Civil Procedure 62.1 and the Final Approval Hearing, are hereby taken off calendar. CLASS CERTIFICATION 3. The Court hereby certifies, for settlement purposes only, pursuant to Rules 23(a) and 23(b)(3) of the Federal Rules of Civil Procedure, a Settlement Class defined as follows: All persons or entities who purchased or otherwise acquired mortgage passthrough certificates pursuant or traceable to Structured Asset Securities Corporation’s August 16, 2005 Registration Statement or May 10, 2006 Registration Statement, and the accompanying prospectuses and prospectus supplements in the following 17 offerings and who were damaged thereby: the LXS 2005-5N offering, LXS 2005-7N offering, LXS 2005-6 offering, LXS 2005-8 offering, LXS 2006-2N offering, LXS 2006-14N offering, LXS 2006- 16N offering, LXS 2006-GP2 offering, GMFT 2006-AR4 offering, GMFT 2006-AR5 offering, SARM 2006-1 offering, SARM 2006-4 offering, SARM 2007-6 offering, SASCO 2007-BC1 offering, SASCO 2007-EQ1 offering, SASCO 2007-OSI offering and FFMLT 2006-FFB offering (collectively, the “Certificates”). Excluded from the Class are Lehman Brothers Holdings, Inc. (“LBHI”), Lehman Brothers, Inc. (“LBI”), Structured Asset Securities Corporation (“SASCO”), Defendants and their respective officers, affiliates and
Case 1:09-md-02017-LAK Document 666-1 Filed 01/13/12 Page 4 of 74 directors at all relevant times, members of their immediate families and their legal representatives, heirs, successors or assigns. Also excluded from the Class are any persons or entities who exclude themselves by filing a valid request for exclusion in accordance with the requirements set forth in the Notice. 4. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, and for the purposes of the Settlement only, the following plaintiffs are appointed as the Class Representatives: Locals 302 and 612 of the International Union of Operating Engineers- Employers Construction Industry Retirement Trust, New Jersey Carpenters Health Fund and Boilermakers-Blacksmith National Pension Trust, and intervenors Public Employees’ Retirement System of Mississippi, and Iowa Public Employees’ Retirement Systems. Cohen Milstein Sellers & Toll PLLC is appointed as Class Counsel for the Settlement Class. 5. The Court approves the appointment of Rust Consulting, Inc. as the Claims Administrator to supervise and administer the notice procedure, as well as the processing of claims as more fully set forth below: a. No later than thirty days (30) after entry of the Notice Order, the Claims Administrator shall cause a copy of the Notice and Proof of Claim Form (the “Claim Form”), annexed hereto as Exhibits A-1 and A-2, respectively, to be mailed by first-class mail, postage prepaid, to those members of the Settlement Class who may be identified through reasonable effort, including through the cooperation of Defendants and/or their agents (the “Notice Date”); b. A summary notice (the “Summary Notice”), annexed hereto as Exhibit A-3, shall be published once in the national edition of The Investor’s Business Daily no later than ten (10) business days after entry of the Notice Order; and c. The Notice, the Summary Notice and the Claim Form shall also be placed on the Claims Administrator’s website, on or before the Notice Date.
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Declaration of K. Rehns in Support of Plaintiffs' Motion for - Lehman ...

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