C.A. No. 9808-VCL
Welcome to the Information Website for the Sterling Chemicals Settlement.
The purpose of this website is to inform you of the pendency of this class action and the proposed Settlement of the Action (the “Settlement”)1 and of the hearing to be held by the Court to consider the fairness, reasonableness, and adequacy of the Settlement as well as plaintiff’s application for reimbursement of fees, costs, and expenses as well as a special award. The Notice describes the rights you may have in connection with your participation in the Settlement, what steps you may take in relation to the Settlement and this class action, and, alternatively, what steps you must take if you wish to object to the Settlement. Although the information in this website is intended to assist you, it does not replace the information contained in the Notice of Proposed Settlement of Class Action, Settlement Hearing, and Right to Appear (“Notice”) and the Stipulation and Agreement of Compromise, Settlement and Release, both of which can be found and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully and in their entirety.
The settlement is directed to all persons or entities who held common stock of Sterling Chemicals, Inc. (“Sterling”) at any time from June 22, 2011, through and including August 9, 2011 (the “Settlement Class Period”).
In consideration of the Settlement, Defendants have agreed to cause the sum of $17,500,000 (the “Settlement Amount”) to be paid for the benefit of the Settlement Class. The Settlement Amount, less any Taxes, Tax Expenses, attorneys’ fees, expert fees, notice and administration costs and any other expenses approved by the Court (the “Net Settlement Fund”), will be divided among all eligible Settlement Class Members who send in valid Claim Forms before the January 9, 2017 deadline (“Authorized Claimants”).
|YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT:|
|SUBMIT PROOF OF CLAIM FORM||The only way for an eligible Class Member to get paid. Must be postmarked by January 9, 2017.|
|OBJECT||If you are a Class Member, you can object to the Settlement if you do not like any part of it. You must submit your objection in the manner described in FAQ 16 so it is received no later than November 17, 2016.|
|GO TO A HEARING||The Court will hold a Settlement Hearing at 10:00 a.m. on December 9, 2016. If you would like to speak at the hearing, your notice of intention to appear must be received no later than November 17, 2016, as described in FAQ 19.|
|DO NOTHING||If you do nothing, you will get no money from this Settlement, and, if the proposed Settlement is approved by the Court, you will still be barred from contesting the fairness of the Settlement or pursuing the Released Claims.|
1 All capitalized terms used on this website are defined in the Stipulation of Settlement.