Notice packages were sent out to the following:
|a)||people who had registered with Harrison Pensa LLP to receive updates;|
|b)||people whose brokers identified them as having acquired shares of Baja during the Class Period; and|
|c)||people who were identified by Baja’s transfer agent as having acquired shares of Baja.|
If you did not acquire shares of Baja during the Class Period OR acquired shares of Baja during the Class Period but disposed of those shares prior to April 23, 2012, you can disregard the notice package.
A class action has been commenced on behalf of all persons and entities, wherever they reside or be domiciled, who acquired Baja Mining Corp. securities between November 1, 2010 and April 23, 2012 (the “Class Period”) and who held some or all of those securities as of April 23, 2012.
Alleged Corrective Disclosure means the press release which was released at 8:16 a.m. on April 23, 2012 in which Baja identified a projected costs increase of approximately $246 million after exhausting existing contingency and overrun facilities.
You are excluded if you are any of the following: all former and current defendants and any of their subsidiaries, affiliates, officers, directors, senior employees, legal representatives, heirs, predecessors, successors and assigns.
You are also excluded if you submitted a valid opt out by June 1, 2015.
A settlement has been reached with the defendants in which $11,000,000.00 will be paid for the benefit of Class Members (the “Settlement”). In exchange, the defendants will be provided with a full and final release of claims made against them in relation to the facts and issues alleged or which could have been alleged in the Baja Mining Class Action Lawsuit. The defendants do not admit any wrongdoing or liability in relation to the Baja Mining Class Action Lawsuit. The Settlement represents a final resolution of all issues contained in the Baja Mining Class Action Lawsuit.
Under the Plan of Distribution, each Class Member who has filed a valid claim will receive a portion of the Net Settlement Amount as set out in the Plan of Distribution.
You must mail a valid Claim Form to the Claims Administrator, postmarked no later than August 4, 2016.
Read the instructions carefully, complete the form and include all the documents requested. Be sure to sign and mail the completed Claim Form to the Claims Administrator at the address found on page 1 of the Claim Form.
There is no way to say for sure when distribution will be made because it depends on a number of factors; however, generally, distribution is made within 12 months of the Claims Deadline, barring any unforeseen circumstances.
Class Members are not personally liable to pay any legal fees or disbursements to Class Counsel or to the Defendants.
The Defendants have paid money to the Class Members pursuant to the Court-approved Settlement.
Legal costs, including Class Counsel fees and all disbursements, have been deducted from the amounts recovered for the Class Members. All legal costs were approved by the Court.
Harrison Pensa LLP is Class Counsel. Inquiries may be directed to:
Harrison Pensa LLP
Attention: Jonathan J. Foreman
450 Talbot Street, London, ON N6A 4K3
Tel: 1.800.263.0489 ext. 759