No idea, but here is an example to chew on:
The process of payout in a class-action lawsuit involving securities can be complex and usually involves several steps. Here's a general overview: For the sake of discussion let's assume you had 10,000 shares.
Calculation:
Settlement Fund: After legal and administrative fees, the remaining amount of the settlement fund is distributed to the class members. If the awarded amount is $6,400,000, a portion will go towards attorney fees, administrative costs, and possibly named plaintiffs (those who initiated the suit).
Distribution Plan: The court will approve a plan for how the remaining settlement fund is to be distributed among eligible class members. This often involves a formula that takes into account the number of shares you owned, the duration for which you owned them, and other factors.
Pro Rata Share: Generally, your share of the settlement will be proportional to the number of shares you held, often adjusted for various factors such as the length of time you held the shares, the timing of your transactions, and the total claims made against the settlement fund.
Example:
Let's say the settlement fund was $6,400,000, and after $1,200,000 in legal and administrative fees, $5,200,000 is left. Assume you owned 10,000 shares.
Total Eligible Shares: Assume there were 5 million eligible shares claimed in the settlement by all class members.
Your Proportional Share: Your share would be
10,000 shares/5,200,000 shares = 0.002 or 0.2% of the total fund.
Your Payout: 0.2% of $5,200,000 would be 0.002 \times 5,200,000 = $10,400.
This is a simplified example. Real-world calculations can be far more complex and may involve various adjustments, so expect less, maybe a lot less.
Things to Note:
Minimum Payouts: Some settlements have minimum payout amounts, and if the calculated amount falls below this threshold, you may receive the minimum amount or possibly nothing.
Unclaimed Funds: If there are unclaimed funds after the initial distribution, a second distribution may occur, or the remaining funds might go to a court-approved entity or cause.
Tax Implications: Remember that there could be tax implications for any payouts received.
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