Ontario Teachers Pension Plan

be kind rewind download

definitely maybe movie download

all hat online

The Ontario Teachers’ Pension Plan Board (OTPP) and several other plaintiffs have reached a historic agreement in principle with Nortel Networks Corporation to settle two major securities-related class actions. The conditional settlement is for approximately $2.4 billion in cash and Nortel common stock (all figures in US dollars and at the current NYSE price). OTPP is a court-appointed Co-Lead Plaintiff in the securities class actions.
“We pursued this class action on our 250,000 members’ behalf and are pleased with the tentative settlement,” said Claude Lamoureux, Ontario Teachers’ President and CEO. “We have a fiduciary duty to the active and retired Ontario teachers for whom we invest to press the companies we invest in to deliver shareholder value. As this suit illustrates, we are prepared to
act when necessary.”
The settlement, which is subject to a number of conditions, is part of a global settlement between Nortel (and certain of its current and former directors) and the lead plaintiffs for two separate securities fraud class actions (“Nortel I” and “Nortel II”) currently pending against the company in the United States District Court in New York, New York.
In 2004, OTPP and the New Jersey Department of the Treasury were appointed by a U.S. federal judge to head the prosecution of the “Nortel II” case, the second of two major cases arising from the disclosure of significant accounting improprieties at Nortel in recent years. The “Nortel II” case is being prosecuted on behalf of persons who purchased Nortel common stock
between April 24, 2003 and April 27, 2004. (The earlier “Nortel I” class period is October 24, 2000 through February 15, 2001.)
The contingent settlement announced today settles the securities fraud claims being prosecuted against the company and certain of its directors in “Nortel II”, as well as the claims asserted in the earlier “Nortel I” case. The total consideration Nortel is paying to the two investor classes comprises $575 million in cash, plus 14.5% of the company’s current equity
(approximately 628 million shares). Based on the $3.02 closing price of Nortel common stock on February 7, 2006, the settlement equity would be worth approximately $1.9 billion.
The settlement was reached after an extensive mediation process presided over by Senior U.S. District Judge Robert W. Sweet. The mediation process culminated this week in an intensive two day session in New York involving the top management of Nortel and senior representatives from Ontario Teachers’ and other plaintiffs.
The payment by the Company will be allocated equally between the two investor classes using an allocation formula worked out between the Nortel I and Nortel II lead plaintiffs with the active assistance of Judge Sweet.
The settlement in principle has at least three significant conditions, including governance provisions, insurance issues and securities regulators’ approvals for issuing the 628 million Nortel settlement shares.
If the conditions to the settlement are satisfied, the settlement must be approved by the Honourable Loretta A. Preska, US District Court Judge for the Southern District of New York, after notice to the Nortel II class.
Ontario Teachers’ was represented in the “Nortel II” litigation and the settlement negotiations by New-York based outside counsel at Bernstein Litowitz Berger & Grossmann LLP.

zombie strippers dvdrip download

download player 5150

One Reply to “Ontario Teachers Pension Plan”

Comments are closed.