*IMPORTANT UPDATE*
1/22/2020: The final approval hearing has been rescheduled to February 5, 2020 at 10 AM EST.
The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency of Class Action, Certification of Settlement Class, Proposed Settlement, Settlement Hearing, and Motion for Attorneys’ Fees and Expenses (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional details.
If approved by the Court, the Settlement will create a $15,500,000 cash fund, plus any interest earned thereon, for the benefit of eligible Settlement Class Members, less any attorneys’ fees and expenses awarded by the Court, Notice and Administration Expenses, and Taxes.
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the Settlement, unless you timely request to be excluded. The Class consists of:
All persons and entities that purchased or otherwise acquired shares of the publicly traded common stock of RESI between December 24, 2012, and December 22, 2014, inclusive (the “Class Period”), and were allegedly damaged by those purchases or acquisitions and any corrective disclosures.
Excluded from the Settlement Class are: (i) Defendants; (ii) the officers and directors of RESI; (iii) members of their immediate families; and (iv) their legal representatives, heirs, successors, or assigns and any entity in which Defendants have or had a controlling interest.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found on the menu at the left of this page.
Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, and only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
| YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT |
| SUBMIT A CLAIM FORM POSTMARKED OR RECEIVED NO LATER THAN FEBRUARY 22, 2020 | The only way to be eligible to receive a payment from the Net Settlement Fund. |
| EXCLUDE YOURSELF BY SUBMITTING A WRITTEN REQUEST SO THAT IT IS RECEIVED NO LATER THAN JANUARY 9, 2020 | This is the only option that, assuming your claim is timely brought, might allow you to ever bring or be part of any other lawsuit against Defendants and/or the other Defendants’ Releasees concerning the Released Claims. If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Net Settlement Fund. See Question 11 below for details. |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN JANUARY 9, 2020 | Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or Lead Counsel’s Fee and Expense Application. If you object, you will still be a Settlement Class Member. See Question 15 below for details. |
| GO TO A HEARING ON FEBRUARY 5, 2020 AT 10 AM EST, AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN JANUARY 23, 2020 | Ask to speak in Court about the Settlement. If you submit an objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak in Court about your objection. See Question 19 below for details. |
| DO NOTHING | You will not be eligible to receive a payment from the Net Settlement Fund, you will give up rights, and you will still be bound by the Settlement. |
Please read the Notice carefully. If you have questions, you may call the Altisource Residential Settlement Help Line at 866-797-0862 or email info@AltisourceResidentialSettlement.com.