NORTEL II SETTLEMENT
Notice: Update on the Distribution of Net Settlement Funds.
The Court has approved the distribution of the net settlement funds to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following dates:
If you submitted a Claim in this case and have any questions related to that Claim, please contact the Claims Administrator whose contact information is listed here below:
Nortel II Securities Litigation Inc.
P.O. Box 9082
Dublin, OH 43017-0982
A Settlement in the amount of $370,157,418 in cash, and 314,333,875 shares of Nortel common stock was reached on behalf of investors who purchased Nortel common stock or call options on Nortel common stock, or wrote (sold) put options on Nortel common stock, during the period April 24, 2003 through April 27, 2004, inclusive. This Settlement relates to actions pending in the following cases:
In Re Nortel Networks Corp. Securities Litigation, Master File No. 04 Civ. 2115 (LAP) in the United States District Court for the Southern District of New York;
Gallardi v. Nortel Networks Corporation, No. 05-CV-285606CP in the Ontario Superior Court of Justice; and
Skarstedt v. Corporation Nortel Networks, No. 500-06-000277-059 in the Superior Court of Quebec District of Montreal.
This first distribution was conducted pursuant to court orders from the various courts which can be viewed here: