Recognized Loss Clause Samples
Recognized Loss. To the extent there are sufficient funds in the Net Settlement Fund, each Authorized Claimant will receive an amount equal to the Authorized Claimant’s “Recognized Loss,” as described below. If, however, as expected, the amount in the Net Settlement Fund is not sufficient to permit payment of the total Recognized Loss of each Authorized Claimant, then each Authorized Claimant shall be paid the percentage of the Net Settlement Fund that each Authorized Claimant’s Recognized Loss bears to the total of the Recognized Losses of all Authorized Claimants – i.e., the Authorized Claimant’s pro rata share of the Net Settlement Fund. Payment in this manner shall be deemed conclusive against all Authorized Claimants. The proposed Plan of Allocation reflects the Plaintiffs’ allegations that, as a result of the Defendants’ misrepresentations and omissions concerning this matter, the value of Alliant was artificially inflated at the time of the merger of Alliant and Orbital Sciences, and over the course of the Class Period, the trading prices of Orbital ATK common stock were artificially inflated. Estimated damages and the Plan of Allocation were developed based on a discounted cash flow (“DCF”) analysis and an event study analysis. The DCF analysis determines how much Alliant was artificially overvalued at the time of the merger of Alliant and Orbital Sciences. The event study analysis determines how much artificial inflation was in the stock price on each day during the Class Period by measuring how much the stock price was inflated as a result of the alleged misrepresentations and omissions and declined as a result of alleged disclosures that corrected the alleged misrepresentations and omissions. The damages suffered by any particular Authorized Claimant in connection with the purchase or acquisition of Orbital ATK stock during the Class Period depends on when that Authorized Claimant purchased and sold shares, or retained shares beyond the end of the Class Period. As previously described in the Notice, the Net Settlement Fund is the remainder of the Settlement Fund after deduction of Court-awarded attorneys’ fees and expenses, settlement administration costs and any applicable taxes and tax expenses. Pursuant to this Plan of Allocation, Class Members may have a claim under Section 10(b) (“10(b) Claims”) and/or Section 14(a) (“14(a) Claims”) of the Securities Exchange Act of 1934 (“Exchange Act”). The Net Settlement Fund will be allocated to Authorized Claimants as ...
Recognized Loss. Pursuant to Section 11 of the Securities Act, 15 U.S.C. § 77k, for shares purchased between April 30, 2007 and December 31, 2008, and
(1) sold prior to December 31, 2008, a Class Member’s Recognized Loss will be the lesser of (a) the Net Asset Value (“NAV”) of the shares on the date of purchase minus the NAV on the date of sale; or (b) the NAV of the shares on the date of purchase minus $6.12 (the NAV on December 31, 2008).
(2) held as of the close of trading on December 31, 2008, a Class Member’s Recognized Loss will be the NAV on the date of purchase minus $6.12 (the NAV on December 31, 2008).
(3) disposed of after December 31, 2008, a Class Member’s Recognized Loss is calculated in the same way as for shares retained as of December 31, 2008.
Recognized Loss. To the extent there are sufficient funds in the Net Settlement Fund, each Authorized Claimant will receive an amount equal to the Authorized Claimant’s “Recognized Loss,” as described below. If, however, as expected, the amount in the Net Settlement Fund is not sufficient to permit payment of the total Recognized Loss of each Authorized Claimant, then each Authorized Claimant shall be paid the percentage of the Net Settlement Fund that each Authorized Claimant’s Recognized Loss bears to the total of the Recognized Losses of all Authorized Claimants – i.e., the Authorized Claimant’s pro rata share of the Net Settlement Fund. Payment in this manner shall be deemed conclusive against all Authorized Claimants. The proposed Plan of Allocation reflects the Plaintiffs’ allegations that over the course of the Class Period, the trading prices of Trinity Securities were artificially inflated as a result of the Defendants’ misrepresentations and omissions concerning this matter. Estimated damages and the Plan of Allocation were developed based on event study analysis, which determines how much artificial inflation was in the stock price on each day during the Class Period by measuring how much the stock price was inflated as a result of the alleged misrepresentations and omissions and declined as a result of alleged disclosures that corrected the alleged misrepresentations and omissions.
Recognized Loss. Pursuant to Section 12 of the Securities Act, 15 U.S.C. § 77l, for shares purchased between April 30, 2007 and December 31, 2008, and:
(1) sold prior to December 31, 2008, a Class Member’s Recognized Loss will be (a) the NAV on the date of purchase; (b) plus interest that could have been earned from the date of purchase through the date of sale at a rate equal to the weekly average/one year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System for the calendar week preceding the date of such purchase compounded annually (“Interest”); (c) less any dividends received from the date of purchase through the date of sale on those shares; and (d) less the NAV on the date of sale.
(2) held as of December 31, 2008, a Class Member’s Recognized Loss will be (a) the NAV on the date of purchase; (b) plus Interest that could have been earned from the date of purchase through December 31, 2008; (c) less any dividends received through December 31, 2008 on shares purchased between April 30, 2007 and December 31, 2008; and (d) less the NAV on December 31, 2008, which was $6.12.
(3) disposed of after December 31, 2008, the Recognized Loss is calculated in the same way as for shares retained as of December 31, 2008. If shares were sold prior to December 31, 2008, the Recognized Loss is calculated as the difference between: (i) the NAV on the date of purchase; and (ii) the NAV on the date of sale, plus interest through the date of sale, less any income received from the date of purchase through the date of sale. For any shares disposed of after December 31, 2008 the amounts are calculated the same way as for those shares retained as of that date.