Los Angeles, CA: Pursuant to Rule 23 of the Federal Rules of Civil Procedure and Order of the Court, that Tripp v. IndyMac Bancorp, Inc. being tried in the United States District Court for the Central District of California, Western Division, No. 2:07-CV-1635-GW (VBK) captioned action ("Action") has been certified as a securities class action and that a settlement for five million five-hundred-thousand dollars ($5,500,000) has been proposed.
A hearing will be held before the Honorable George H. Wu on January 28, 2013 to determine whether: (1) the proposed Settlement should be approved as fair, reasonable and adequate; (2) the proposed Plan of Allocation should be approved as fair and reasonable; (3) Lead Counsel's application for an award of attorneys' fees and reimbursement of litigation expenses should be approved; (4) Lead Plaintiff's application for reimbursement of reasonable costs and expenses (including lost wages) in connection with representing the Class should be approved; and (5) the claims against the Defendant should be dismissed with prejudice.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Expenses and Settlement Fairness Hearing (the "Notice") and Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator: IndyMac Class Action Settlement, c/o Rust Consulting, Inc., P.O. Box 2760, Faribault, MN 55021-9760; toll-free: 1-866-801-0469; or email: Info@IndyMacClassActionSettlement.com. Copies of the Notice and Proof of Claim can also be downloaded from the website, .IndyMacClassActionSettlement.com.
If you are a member of the Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Proof of Claim postmarked no later than December 28, 2012. If you are a member of the Class and do not submit a proper Proof of Claim, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Class and you wish to exclude yourself from the Class, you must submit a request for exclusion such that it is received no later than December 28, 2012, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Class, you will not be bound by any orders or judgments entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, proposed Plan of Allocation, application for attorneys' fees and reimbursement of expenses to Lead Counsel and/or Lead Plaintiff's request for reimbursement of costs and expenses must be filed with the Court and served on counsel for the parties such that they are received no later than December 28, 2012, in accordance with the instructions set forth in the Notice.
