A Settlement Hearing will be held on October 11, 2012 in order: (1) to determine whether the Court should grant certification to the Settlement Class pursuant to Fed. R. Civ. P. 23(a) and (b)(3); (2) to determine whether the Settlement consisting of $79,000,000 in cash should be approved as fair, reasonable, and adequate to the Settlement Class and the proposed Judgment entered; (3) to determine whether the proposed Plan of Allocation for the proceeds of the Settlement is fair and reasonable, and should be approved by the Court; (4) to determine whether the applications by Plaintiffs' Counsel for an award of attorneys' fees not to exceed one-third of the Settlement Amount and up to $750,000 in reimbursement of out-of-pocket expenses should be approved; and (5) to rule upon such other matters as the Court may deem appropriate.
If you purchased or otherwise acquired E*TRADE securities between April 19, 2006 and November 9, 2007 (both dates inclusive), and are not otherwise excluded from the Settlement Class, you are a Settlement Class Member. Settlement Class Members will be bound by the final judgment of the Court. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked no later than October 31, 2012, establishing that you are entitled to recovery. If you are a Settlement Class Member and need an additional Proof of Claim, or wish to be excluded from the settlement, more information is available at gcginc.com .