Falk v. Amerada Hess Corporation Litigation Frequently Asked Questions
| Frequently Asked Questions The following is a list of Frequently Asked Questions. Click on the Question, or scroll down this page, to see the answer. Why did I get this Notice package? How do I know if I am part of the Settlement? What does the Settlement provide? How do I get a lawyer in this case? Can I exclude myself from the class now? Can I object to the Settlement?/a> How do I receive a copy of the Notice? Can I send questions regarding this case via e-mail? A. No, you are not being sued. back to top Q. Why did I get this Notice package? A. You or someone in your family may have participated in certain retirement plans offered by Amerada Hess Corporation ("AHC") that held AHC Stock at some time between February 9, 2001 and July 15, 2005 (the "Class Period"). back to top A. In a complaint filed in October 2003, Plaintiffs alleged that the Defendants breached their duties under the Employee Retirement Income Security Act of 1974 (commonly referred to as ERISA), by causing certain 401(k) retirement plans offered by Amerada Hess to purchase and hold shares of AHC Stock at a time when, according to the Plaintiffs, the Amerada Hess Stock was an unsuitable investment for the Plans. AHC and the other defendants deny that they breached any duties or any provision of ERISA. back to top Q. How do I know if I am part of the Settlement? A. All current or former participants of the Amerada Hess Corporation Employees' Savings and Stock Bonus Plan and the Amerada Hess Corporation Savings and Stock Bonus Plan for Retail Operations Employees at any time between February 9, 2001 and July 15, 2005 are members of the Settlement class. If you are a member, you do not need to do anything to receive your portion of the Settlement. back to top Q. What does the Settlement provide? A. Without admitting any wrongdoing, Defendants have agreed to pay $2,250,000 in cash to establish a settlement fund. The Settlement also provides for certain structural remedies explained more fully in the Notice. You can view the Notice in its entirety at www.gardencitygroup.com/cases/pdf/AHE/AHENotice.pdf.: back to top A. If you are a Class Member and a current Plan participant your Settlement proceeds will be deposited in your Plan account. If you are a Class Member and no longer participate in the Plans, a Plan account will be established for you, and you will be notified of such account along with further instructions.
back to top Q. How much will my payment be? A. The Net Settlement Fund (which is the settlement amount less attorneys' fees and expenses) will be allocated equally among all Class Members of which there are approximately 6,200. If you have questions regarding the Settlement or the Settlement amount you may receive, please contact Plaintiffs' Counsel listed on Page 5 of the Notice. Please do not contact the Company. back to top Q. How do I get a lawyer in this case? A. The law firm of Schiffrin & Barroway, LLP and its co-counsel represent you and other Class Members. These lawyers are called Class Counsel. You will not be charged for these lawyers. These lawyers will be paid directly from the Settlement Fund. If you want to be represented by your own lawyer, you may hire one at your own expense. back to top Q. Can I exclude myself from the Settlement? A. No, you do not have the right to exclude yourself from the Settlement in this case. You will be bound by any judgments or orders that are entered in this Action. back to top Q. Can I object to the Settlement? A. You do have the right to object by writing to the court. To object, you must send a letter stating you object to the Settlement in Falk v. Amerada Hess Corp., et al., Case No. 03-CV-2491, to the court's address listed on page 5 of the Notice, postmarked no later than September 30, 2005. More details about objecting to the settlement are on page 5 of the Notice. back to top Q. May I speak at the Hearing? A. You may ask the Court for permission to speak at the Fairness Hearing. To do so, you must send a letter stating this is your "Notice of Intention to Appear in Falk v. Amerada Hess Corp., Case No. 03-CV-2491." Be sure to include your name, address, telephone number and your signature. Your letter must be postmarked no later than September 30, 2005, and sent to the Clerk of the Court, Class Counsel, and Defense Counsel, at the addresses indicated on page 5 of the Notice. back to top Q. How do I receive a copy of the Notice? A. Copies of the Notice were mailed out to the last known address of all members of the Amerada Hess Corporation Employees' Savings and Stock Bonus Plan and the Amerada Hess Corporation Savings and Stock Bonus Plan for Retail Operations Employees, who participated in the Plans at any time between February 9, 2001 and July 15, 2005. If you would like to review the Notice and Settlement papers immediately, please visit www.gardencitygroup.com. back to top Q. Can I send questions regarding this case via e-mail? A. If you would like to send a question to the lawyers regarding this case, please email ahcerisasettlement@sbclasslaw.com. back to top |