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Welcome to the Fairfield Greenwich Securities Litigation Class Action Settlement Website

There are two settlements to date in the consolidated class action brought on behalf of investors in the largest group of feeder funds to Bernard L. Madoff Investment Securities - consisting of Fairfield Sentry Limited, Fairfield Sigma Limited, Greenwich Sentry, L.P. and Greenwich Sentry Partners, L.P.

In a development that is separate from the class action lawsuit, the United States Attorney for the Southern District of New York and the Department of Justice have announced that victims of the fraud perpetrated through Bernard L. Madoff Investment Securities may submit claims to the Madoff Victim Fund. The Madoff Victim Fund consists of over $4 billion gathered to date through various criminal and civil forfeiture actions brought by the United States Attorney. The Madoff Victim Fund will pay recoveries directly to qualifying investors whose assets came into Madoff Securities indirectly through feeder funds, investment partnerships, bank commingled funds, family trusts or other pooled investment accounts. If you suffered a net loss of money that belonged to you following the collapse of Madoff Securities, and you can document your loss, you will generally be eligible to recover from the Madoff Victim Fund. The deadline to submit a claim to recover from the Madoff Victim Fund is April 30, 2014, and investors are encouraged to file as quickly as possible. Please note that co-lead counsel and Rust Consulting are not responsible for administering the Madoff Victim Fund. All investors are responsible for submitting their own claim forms and supporting documentation to the Madoff Victim Fund. 

Representative plaintiffs, along with co-lead counsel in the matter of Anwar, et al., v. Fairfield Greenwich Limited, et al., 09-cv-118 (VM)(FM), obtained Final Court Approval of the Stipulation of Settlement with defendants associated with the Fairfield Greenwich Group.  The Fairfield Greenwich settlement resolves all claims asserted in the Action against the Fairfield Greenwich Group and affiliated parties, and provides for a payment in the amount of $80,250,000, including a minimum of $50,250,000 to be distributed to the Settlement Class, and an additional $30,000,000 to be distributed if not used to resolve other claims.  Investors in Fairfield Lambda Limited, in addition to the funds identified above, are included in this Settlement.  Additional information on the Settlement is available in the Notice of Proposed Partial Settlement of Class Action and Settlement Fairness Hearing, and Motion for Attorneys’ Fees and Reimbursement of Expenses.   Settlement Class Members were required to submit a Proof of Claim and Release by April 17, 2013 to participate in the Settlement.  Appeals are pending with respect to the Final Court Approval, and distribution of the settlement fund is not expected until some time in 2014.  

In addition, the Representative Plaintiffs, along with co-lead counsel, have entered into a Stipulation of Settlement to resolve claims asserted against GlobeOp Financial Services LLC in the consolidated Anwar action for $5,000,000. The settlement is on behalf of investors who purchased or held interests in Greenwich Sentry, L.P. or Greenwich Sentry Partners, L.P. (the “Domestic Funds”) from October 31, 2003 through September 1, 2006 (the period in which GlobeOp served as administrator of the Domestic Funds). The District Court (Hon. Victor Marrero) has entered a Preliminary Approval Order scheduling a hearing to consider final approval of the settlement on November 22, 2013 at 2.30 P.M.   Proof of Claim Forms must be filed in the GlobeOp Settlement by December 23, 2013. 

The $5,000,000 GlobeOp partial settlement is separate from and in addition to the $80.25 million settlement with the Fairfield Greenwich defendants.  Additional information on the GlobeOp Settlement is available in the Notice of Proposed GlobeOp Partial Settlement of Class Action and Settlement Fairness Hearing, and Motion for Attorneys' Fees and Reimbursement of Expenses.  In addition, there is a separate $5,000,000 million settlement in a related action brought against GlobeOp in New York State Court by the Litigation Trustee for the Domestic Funds.  That $5,000,000 million state court settlement (net of any expenses and fees) will benefit investors in the Domestic Funds through the Domestic Funds’ U.S. bankruptcy proceedings.  

 

 

IMPORTANT DATE - GLOBEOP

 SUBMIT A CLAIM FORM

Deadline: December 23, 2013.
This is the only way to receive a payment from the GlobeOp Settlement Fund. This is the only way to receive a payment from the GlobeOP Settlement Fund. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Disclaimer

IMPORTANT:  This site is not operated by FAIRFIELD SENTRY LIMITED, FAIRFIELD SIGMA LIMITED, FAIRFIELD LAMBDA LIMITED, GREENWICH SENTRY, L.P. or GREENWICH SENTRY PARTNERS, L.P.  This site is operated and administered by a claims administration firm that handles all aspects of settlement notification.  Please direct any website errors or questions to the Claims Administrator, Rust Consulting, Inc.

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