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FAQs

The Garden City Group, Inc. is committed to providing you with the information you need. Simply click on any of the following questions to get answers.

General Questions



How can I contact you?
We can be reached at the following toll free number: 1-800-327-3664. If you are calling from outside the toll free area, the telephone number for The Garden City Group, Inc. is 631-470-5000. We can be reached by certified mail or by some other method with proof of delivery. Always include your Claim Number on any correspondence.

The Garden City Group, Inc.
105 Maxess Road,
Melville, New York 11747

What is a class action suit?
A class action suit brought by one or more plaintiffs on behalf of all similarly situated individuals or entities that have been harmed in a common way. In the United States federal courts, class actions are governed by Rule 23 of the Federal Rules of Civil Procedure.

What are the benefits of a securities class action suit?
A securities class action suit provides the thousands of persons and institutions that purchased securities of a company the ability to litigate on a level playing field with large, well-funded corporations that have huge resources to spend on defending claims brought by investors seeking to hold them accountable for alleged securities law violations. A class action allows many people who would never have brought an individual action to rely on a lead plaintiff to prosecute the case for them.

In addition:
  • Class action legislation extends the limitation period before which an individual action must be filed.
  • Class actions place fewer obligations on class members than conventional lawsuits.
  • Class actions are cost effective and increase judicial efficiency because they unite several plaintiffs under one case.

What does it cost me to join a class action lawsuit?
Typically there are no costs associated with joining a class action lawsuit.

Will the information I submit be kept confidential?
In all ways feasible, we strive to maintain the confidentiality of all data and claims processing information submitted by claimants, defendants, financial institutions and other relevant parties. Usually, our Claims Administrator, Plaintiff's Counsel, and their staffs, will have access to such information in order to effectively adjudicate contested claims, and to comply with any orders entered by the Court.

I received a Notice but no Proof of Claim. When will I receive a claim form?
Sometimes only a Notice is mailed to potential claimants because no claim forms exist at the time of the mailing. When the claim form becomes available, if one is being used, we will then forward it to all who received the notice.

Why did I receive more than one Notice and claim form?
If you receive more than one Notice and claim form it is likely that your name appears on more than one of our lists in some slightly different form. However, if you have already filed a claim for the case in question, you will not need to re-submit this information.

How long will the lawsuit take before it is resolved?
Since class actions are usually brought against large corporations and involve complex legal issues, they can take years to settle. Fortunately, class members have very few responsibilities while a claim is ongoing, and they are free to move on with their lives.

How can I get confirmation that you received my claim form?
You will receive a confirmation of receipt when you submit your claim form via Certified Mail, Return Receipt Requested.

Will I be kept informed during the course of the litigation?
You will be notified either by mail or e-mail of any significant developments during the course of the litigation. Also, a dedicated team at GCG can be reached by e-mail, or by toll free telephone or letter whenever you have a question. In addition, this Web site will be regularly updated with pertinent case developments and key claims processing milestones in each case as the situation warrants.

What is the status of my claim?
You must first contact us at www.gardencitygroup.com/contact or 1-800-327-3664 before we can give you any information regarding the status of your claim. Be ready to provide your name and the last four numbers of your Social Security Number or Tax Identification Number.

When can I receive the status of my claim?
Expect to receive a status of your claim within four to six months after the deadline for filing.

What is a settlement notice?
A notice that describes the terms of the settlement and outlines the rights of the class members under that settlement.

How much money will I receive?
The amount of the fee award will depend on a number of factors, including the size of the recovery and the duration and complexity of the litigation. Forms of compensation include: cash, coupons, or other compensation.

Is my distribution taxable?
The tax responsibility for any distribution depends on the type of settlement reached, your tax status and the treatment of the claimant's investments/activities regarding that claim. Please consult your tax advisor for any specific tax consequence, if any, that may apply to you regarding the distribution you receive. The Internal Revenue Code provides regulations regarding this issue under Section 468B:

"Whether a distribution to a claimant is included in the claimant's gross income is generally determined by reference to the claim in respect of which the distribution is made and as if the distribution were made directly by the transferor."

I just received a Notice of Deficiency in the mail? What does this mean?
During the claims processing stage, a claim may be deemed "deficient" for any number of reasons, including the failure to supply the necessary documentation in support of purchases, sales and balances, as required by the Claim Form; the failure to provide adequate support for account owner name(s) and account number(s); the failure to provide your Social Security number or taxpayer identification number; the failure to provide a copy of a death certificate (if applicable); and the failure to sign the Claim Form. You should respond to the Notice of Deficiency as quickly as possible, together with any required additional documentation and the Notice of Deficiency.

What is a class period?
The class period is typically the time frame during which it is believed the alleged fraud or other securities law violations occurred. The class period is initially determined by plaintiffs' counsel after extensive research and investigation. Sometimes the class period changes during the course of the litigation based on additional information uncovered during the discovery process.

Can I participate in more than one class action at a time?
Yes, even with separate class actions against the same company.

Where do I submit my completed claim form?
Mail it, together with the supporting documentation, to:

Claims Administrator
[Name of Litigation]
c/o The Garden City Group, Inc.
105 Maxess Road
Melville, New York 11747

If you desire an acknowledgement of receipt of your claim, please send it Certified Mail, Return Receipt Requested.

What happens if I don't file my claim on time?
It is acceptable to file a claim after the filing deadline, but it will be considered a late claim. It is up to the Court and the attorneys for each case to decide if late claimants will be permitted to participate in the settlement fund.

How can I be excluded from the Class?
Your request for exclusion must be received by the Claims Administrator by the set deadline, and must include all of the following: (1) your name, address, and telephone number; and (2) your wish to be excluded from the Class. All persons who submit valid and timely requests for exclusion shall have no rights under the Stipulation, shall not share in the distribution of the Net Settlement Fund, and shall not be bound by the Judgment Release. Unless otherwise instructed, mail your exclusion request to:

Claims Administrator
[Name of Litigation]
c/o The Garden City Group, Inc.
105 Maxess Road
Melville, New York 11747

I did not receive a Notice and Proof of Claim and Release in the mail. How can I obtain one?
This material can be requested by mail, email, fax, or from this Web site as follows:

Claims Administrator
[Name of Litigation]
c/o The Garden City Group, Inc.
105 Maxess Road
Melville, New York 11747

What is the Settlement Hearing and do I have to attend?
The Court has scheduled a hearing to consider the fairness, reasonableness, and adequacy of the proposed Settlement and to consider the request of plaintiffs' counsel for the award of attorney's fees and expenses. It is not necessary for a claimant to appear at the Hearing. The Class will be represented by the plaintiffs' counsel.

Should I send the originals of the documentation?
No, send only copies. Retain the originals for your files.

What do I do if I don't have the type of documentation/proof requested by the Proof of Claim?
You can still file a claim even if you lack the requested documentation. You'll receive a letter from GCG that your claim is deficient, and you will be given time to fully complete the claim form. If your claim form remains incomplete, however, your claim may be rejected and you may be excluded from participating in the settlement fund.

I am a resident of a foreign country and do not have a United States Social Security Number or Taxpayer Identification Number. How should I complete these sections?
Simply leave those sections blank in the form, or write zeros in place, and GCG will determine that those sections do not apply to you. Be prepared to complete a W-8BEN form, which you can find on the U.S. Internal Revenue Service's Web site: www.irs.gov

How do I notify you of a wrong address or a change of address?
Please send written notification of your correct address to:
Claims Administrator
[Name of Litigation]
c/o The Garden City Group, Inc.
105 Maxess Road
Melville, New York 11747



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