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Welcome to the IndyMac Class Action Settlement Website

PLEASE CLICK HERE TO VIEW AND DOWNLOAD A COPY OF THE NOTICE.
PLEASE CLICK HERE TO VIEW AND DOWNLOAD A COPY OF THE PROOF OF CLAIM AND RELEASE FORM.

This website provides a summary of information presented in more detail in the Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Expenses and Settlement Fairness Hearing (“Notice”).  Since this is just a summary, you should read the full Notice for additional details regarding the action captioned Mossberg, et al. v. IndyMac Bancorp, Inc., et al., 2:07-CV-1635-GW (VBK) ("Action") and the proposed Settlement of the Action. The content on this website incorporates, by reference, the definitions in the Stipulation and Agreement of Settlement dated June 25, 2012 (“Stipulation”), and all capitalized terms used, but not defined herein, shall have the same meanings as in the Stipulation. The Notice and Stipulation are available for download on the left hand side of this page.

Please read this information carefully. If you are a member of the Class (as defined below), your legal rights will be affected by this Settlement and you may be eligible to participate in the Settlement totaling $5.5 million. The Class consists of all persons and entities who purchased or otherwise acquired IndyMac Bancorp, Inc. common stock (“IndyMac” or the “Company”) from March 1, 2006 through March 1, 2007, inclusive, except those persons and entities that are excluded as described on page 6, Question 6 of the Notice.

IMPORTANT DATES AND DEADLINES

Submit a Proof of Claim and Release Form

Must be postmarked no later than December 28, 2012

Request Exclusion from the Class 

Must be received by December 28, 2012

File an Objection to the Settlement

Must be received by December 28, 2012

Settlement Fairness Hearing

January 28, 2013, 8:30 a.m. 


WHAT THIS LAWSUIT IS ABOUT
The Settlement resolves class action litigation over allegations as to whether materially false and misleading statements were issued concerning, inter alia, IndyMac’s growth and stability, resulting from the quality and success of the Company’s strong internal/operational controls and underwriting, causing financial injury to members of the Class. See Question 2 of the Notice for more information.

Defendant has denied and continues to deny that he has committed any act or omission giving rise to any liability and/or violation of law.

THE SETTLEMENT BENEFITS
The Settlement provides for $5,500,000 in cash plus interest. These proceeds, after payment of Court-approved attorneys’ fees and expenses, including any reimbursement of cost and expenses (including lost wages) to Lead Plaintiff, and the costs of notice and claims administration and any taxes (the “Net Settlement Fund”), will be divided among Class Members who submit timely and valid claim forms (“Authorized Claimants”) pursuant to a Court-approved plan of allocation. 

THE COURT’S SETTLEMENT FAIRNESS HEARING
The Court will hold a fairness hearing at 8:30 a.m., on January 28, 2013, at the United States District Court for the Central District of California, U.S. Courthouse, 312 N. Spring Street, Los Angeles, California 90012, Courtroom 10.  At this hearing, the Court will consider whether the Settlement and the Plan of Allocation are fair, reasonable, and adequate.  If there are objections, the Court will consider them.  The Court will listen to people who have requested in writing by December 28, 2012 to speak at the hearing.  The Court may also consider Lead Counsel’s application for attorney’s fees and reimbursement of expenses and Lead Plaintiff’s request for reimbursement of costs and expenses.

IF YOU ARE A CLASS MEMBER YOU HAVE THE FOLLOWING OPTIONS

SUBMIT A PROOF OF CLAIM AND RELEASE FORM
To be eligible to receive a payment from the Settlement Fund, you must be a Class Member and you must submit a Proof of Claim and Release Form.  A Proof of Claim and Release Form was enclosed with the Notice mailed to potential Class Members and is available for download on the left hand side of this page. Read the instructions carefully, fill out the form, include all the documents the form requests, sign it, and mail it in an envelope addressed to the Claims Administrator, postmarked no later than December 28, 2012. Please retain a copy of everything you mail, in case the materials are lost or destroyed during shipping.

EXCLUDE YOURSELF FROM THE CLASS
If you want to keep any right you may have to sue, continue to sue, or be part of any other lawsuit against the Defendant or Released Parties about the Released Claims, you must request to be excluded from the Class.

To exclude yourself from the Class, you must send a letter by mail stating that you want to be excluded from the Class in Mossberg, et al. v. IndyMac Bancorp, Inc., et al., Case No. 2:07-CV-1635-GW (VBK). You must include your name, address, telephone number, your signature, and information concerning your purchase(s) and acquisition(s) of IndyMac common stock during the Class Period and your sale(s) of such IndyMac common stock, including the date(s), price(s), and amount(s) of all purchases and/or acquisitions of IndyMac common stock you made during the Class Period and your sales of such IndyMac common stock. You must mail your exclusion request so that it is received by December 28, 2012 to: IndyMac Class Action Settlement, EXCLUSIONS, c/o Rust Consulting, Inc., P.O. Box 2760, Faribault, MN 55021-9760. Please keep a copy of everything you send by mail, in case it is lost or destroyed during shipping.

You cannot exclude yourself over the phone or by e-mail. If you ask to be excluded from the Class, you are not eligible to receive any payment from the Net Settlement Fund, and you cannot object to the Settlement. You will not be legally bound by anything that happens in this lawsuit and you will be able to pursue the claims that are being released in the Settlement.

OBJECT TO THE SETTLEMENT
If you are a Class Member, you can object to the Settlement if you do not like any part of it. To object, you must send a letter saying that you object to the Settlement in Mossberg, et al. v. IndyMac Bancorp, Inc., et al., Case No. 2:07-CV-1635-GW (VBK) and the reasons why you object to the Settlement. Be sure to include your name, address, telephone number and your signature. You must also include information (dates(s), price(s) and amounts(s)) concerning your purchase(s) and acquisition(s) of IndyMac common stock during the Class Period and your sale(s) of such IndyMac common stock.  Any objection to the Settlement must be received by each of the following by December 28, 2012:

 

 COURT

Clerk of the Court
United States District Court
Central District of California

U.S. Courthouse

312 N. Spring Street

Los Angeles, CA 90012

LEAD COUNSEL

John J. Gross, Esq.
Jennifer L. Enck, Esq.
KESSLER TOPAZ MELTZER & CHECK, LLP
280 King of Prussia Road
Radnor, PA 19087

DEFENDANT’S COUNSEL

David B. Bayless, Esq.
Tammy Albarran, Esq.
COVINGTON & BURLING, LLP
One Front Street

San Francisco, CA 94111

 

DO NOTHING
If you do nothing, you will receive no money from this Settlement. But, unless you exclude yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against the Defendant or the Released Parties about the same claims being released in this Settlement.

OBTAINING MORE INFORMATION
Additional information regarding the Settlement, the Notice and how to complete and submit your Proof of Claim and Release Form may be obtained by contacting the Claims Administrator at 1 (866) 801-0469 or info@IndyMacClassActionSettlement.com or by reading the Notice and Proof of Claim and Release Form that can be accessed on the left hand side of this page.

 

 

 

 

 

 

Disclaimer

IMPORTANT: This site is not operated by IndyMac Bancorp, Inc.  This site is operated and administered by a claims administration firm that handles all aspects of claim processing.  Please direct any website errors or questions to the Claims Administrator, Rust Consulting, Inc.

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