Answers
| 1. |
What is the ShuffleMaster Inc. Securities Litigation Settlement?
This lawsuit alleges that the Defendants violated the federal securities laws by causing Shuffle Master's financial statements to falsely overstate its profitability and assets. Specifically, Lead Plaintiffs alleged that Defendants accrued and booked revenue and receivables that were never received and hid Shuffle Master's deteriorating financial condition from investors.
The Complaint alleges that the Defendants knew that the public documents and statements issued or disseminated in the name of Shuffle Master during the Class Period were materially false and misleading; knew that such statements or documents would be issued or disseminated to the investing public; and knowingly and substantially participated or acquiesced in the issuance or dissemination of such statements or documents as primary violations of the federal securities laws. Defendants' alleged false and misleading statements caused the price of Shuffle Master common stock to be artificially inflated, causing investors who purchased such
securities during the Class Period to suffer damages.
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| 2. |
What is the proposed Settlement?
Defendants have agreed to create a Settlement Fund of $13,000,000, plus interest, to be distributed to eligible Settlement Class Members. The Court has scheduled a hearing on the Settlement for May 4, 2010 at 9:00 a.m., before the Honorable Kent J. Dawson in the U.S. District Court for the District of Nevada, Lloyd D. George United States Courthouse, 333 Las Vegas Blvd. South, Las Vegas, NV 89101. At this hearing, the Court will consider whether the Settlement is fair, reasonable, and adequate, and will consider Class Counsel's application for attorneys' fees. If there are objections, the Court will consider them. At or after the hearing, the Court will decide whether to approve the Settlement.
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| 3. |
How do I know if I am a part of the Settlement?
The Court has certified for purposes of the Settlement a Settlement Class that consists of, subject to certain exceptions identified below, the following individuals and entities:
All persons and entities who purchased or acquired Shuffle Master, Inc. ("Shuffle Master") common stock between and including February 1, 2006 and March 12, 2007, and who were damaged thereby.
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| 4. |
How do I file a Proof of Claim form to participate in the Settlement?
To qualify for payment, you must be an eligible Securities Settlement Class Member, send in a valid Proof of Claim form, and properly document your claim as requested in the claim form. Read the instructions carefully, fill out the form, include all the documents the form asks for, sign it, and mail it in the enclosed envelope postmarked no later than June 3, 2010.
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| 5. |
How do I figure out how much I will be entitled to?
Your share of the Net Shuffle Master Securities Settlement Fund will depend on a variety of factors, including: the number of other Settlement Class Members who submit valid proof of claim forms; the number of shares of stock you purchased; the prices and dates of those purchases; and the prices and dates of any sales of your stock. Each Authorized Claimant shall be paid the percentage that each Authorized Claimant's Recognized Loss bears to the total Recognized Losses of all Authorized Claimants. A claim will be calculated using the Plan of Allocation provided on pages 4 and 5 of the notice.
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| 6. |
How do I exclude myself from the Settlement?
To exclude yourself from the Settlement, you must send a letter by mail to the Claims Administrator saying that you want to be excluded from In re Shuffle Master, Inc. Securities Litigation. Be sure to include your name, address, telephone number; your Social Security Number or Taxpayer Identification Number; a list stating the number of shares of Shuffle Master common stock purchased and sold between February 1, 2006 and March 12, 2007, and the dates of each purchase and sale; as well as your signature. Mail your exclusion request postmarked no later than April 20, 2010, to:
In re Shuffle Master, Inc. Securities Litigation
c/o Gilardi & Co. LLC
Claims Administrator
P.O. Box 8040
San Rafael, CA 94912-8040
If you request exclusion on behalf of any person or entity other than yourself (such as, for example, a trust, a minor, or a pension fund), you also must state the basis of your legal authority to make a request for exclusion on behalf of that person or entity.
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| 7. |
What if I want to object to the terms of the Settlement, the Plan of Allocation, or the Application for Fees & Expenses?
If you are a Settlement Class Member and you do not exclude yourself, you can object to the Settlement, including Class Counsel's application for attorneys' fees, and give reasons why you think the Court should not approve them. To object, you must send a letter or other filing saying that you object to the Settlement and/or the attorneys' fee application in In re Shuffle Master, Inc. Securities Litigation, No: 2:07-cv-00715-KJD-RJJ. Be sure to include your name, address, telephone number, signature, and the reasons for your objection, as well as a list of your purchases and sales of Shuffle Master common stock made during the Class Period, including the dates, the number of securities purchased or sold, the price(s) paid or received per security for each such purchase or sale, and whether you continue to hold the securities at the time your objection is submitted. Your written objection must be sent to the following counsel and must be received by them no later than April 20, 2010:
Counsel for Defendants:
| William F. Sullivan |
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Peter M. Stone |
| Paul, Hastings, Janofsky |
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Paul, Hastings, Janofsky |
| & Walker, LLP |
|
& Walker, LLP |
| 515 South Flower Street |
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1117 S. California Avenue |
| Twenty-Fifth Floor |
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Palo Alto, CA 94304-1106 |
| Los Angeles, CA 90071-2228 |
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Class Counsel:
| John C. Kairis, Esquire |
| GRANT & EISENHOFER P.A. |
| 1201 N. Market Street |
| Wilmington, DE 19801 |
You must also file your objection with the clerk of the United States District Court for the District of Nevada, so it is received no later than April 20, 2010. The address is:
Clerk of the U.S. District Court for the District of Nevada,
Lloyd D. George United States Courthouse
333 Las Vegas Blvd. South
Las Vegas, NV 89101
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| 8. |
What if I do nothing?
If you do nothing in response to this Notice, you will remain a member of the Settlement Class and will be bound by the Settlement. You will not be able to start, continue, or be part of any other lawsuit or arbitration against any of the Defendants based on the claims in the Action.
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| 9. |
Where can I get more information about the Settlement?
The details of the Settlement are available in the Notice. For further information please feel free to contact the Claims Administrator at 1-877-234-7391, or by e-mail at classact@gilardi.com.
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| 10. |
Who is representing the Class?
The Court has appointed the law firm of Grant & Eisenhofer P.A. to represent Lead Plaintiffs and all other Settlement Class Members in the Action. These lawyers are called Securities Lead Counsel. You will not be charged directly for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.
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