San Diego, CA: The United States District Court for the District of Montana will hold a hearing beginning on May 20, 2010, and continuing as necessary, to determine whether to approve the settlements reached in three separate cases brought on behalf of persons who purchased and/or owned Montana Power Company common stock at various times. The settlements of the three cases discussed below were reached on a global basis and, therefore, payment of funds is contingent upon approval of all three settlements.
The Securities Class Action
The proposed settlement of the securities case is for $19,000,000. If you purchased or acquired Montana Power Company common stock between January 30, 2001 and November 14, 2001, you may be eligible for a payment and your rights may be affected by the settlement of the securities case. You may request to be excluded from the securities settlement class. To do so, your exclusion request must be postmarked by April 30, 2010, and be submitted in the manner explained in the detailed securities notice. If you have not received a detailed securities notice, you may obtain a copy by writing to: Touch America Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040; by calling 877-571-8665; or by downloading it at www.gilardi.com.
In order to share in the securities settlement proceeds, you must submit a proof of claim and release form postmarked no later than June 21, 2010, establishing that you are entitled to a recovery. If you need a claim form, you may write, call, or download the form using the contact information in the previous paragraph.
The McGreevey Shareholder Action
The proposed settlement of the McGreevey shareholder case is for $39,280,000. If you owned Montana Power Company common stock at any time between December 17, 1999 and September 21, 2001, you may eligible for a payment and your rights may be affected by the settlement of the shareholder case. If you are a member of the class you do not have the right to request exclusion (opt-out) from this class settlement; however, you do have the right to make a claim and to object to the settlement. If you have not received a detailed notice about the McGreevey shareholder action, you may obtain a copy by writing to: McGreevey Shareholder Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040; by calling 877-571-8665; or by downloading it at www.gilardi.com.
In order to share in the settlement proceeds, you must submit a proof of claim and release form postmarked no later than June 21, 2010, establishing that you are entitled to a recovery. If you need a claim form, you may write, call, or download the form using the contact information in the previous paragraph.
The ERISA Action
The proposed settlement of the ERISA case is for $4,900,000. If you participated in or are a beneficiary of The Northwestern Energy 401K Plan, f/k/a The Montana Power Company 401K Retirement Savings Plan, f/k/a The Montana Power Company and Subsidiaries Employee Retirement Savings Plan, f/k/a The Montana Power Company Deferred Savings and Employee Stock Ownership Plan between September 12, 1999 and November 1, 2001, and are not excluded because you are a defendant or one of the defendant's related parties, you are eligible for a payment.
If you have not received a detailed ERISA notice at your current address you should advise the Claims Administrator at: Touch America ERISA Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 808061, Petaluma, CA 94975-8061; or by calling 877-571-8669. If you would like a copy of the detailed notice you may write or call using the above information or you may download it at www.gilardi.com. You DO NOT need to submit a claim or take any action in order to receive a payment if you received the detailed ERISA notice at your current address.
