Last Updated: April 24, 2012
The estimated date of Distribution for this litigation is expected to be
60 – 90 days from the date of the Order for Distribution (April 11, 2012).

The following is a summary of information presented in more detail in the Notice of Proposed Class Action Settlement, which Class Members should have received in the mail, and which you can access by clicking the link on the left. Since this is just a summary, you should read the full Notice for additional details.

PLEASE READ THIS INFORMATION CAREFULLY. IF YOU PURCHASED A JUNE 2005 TEN YEAR TREASURY NOTE FUTURES CONTRACT BETWEEN MAY 9, 2005 AND JUNE 30, 2005, INCLUSIVE, IN ORDER TO LIQUIDATE A SHORT POSITION, YOUR RIGHTS MAY BE AFFECTED BY THIS PENDING CLASS ACTION LAWSUIT AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND.

If you are a brokerage firm or trustee through whom Chicago Board of Trade (“CBOT”) June ten year U.S. Treasury futures contracts were purchased during May 9, 2005 through June 30, 2005, for customers that are members of the above Class, you should provide the name and last known address for such customers to the Settlement Administrator at the address listed on page 7 of the Notice. The Settlement Administrator will cause copies of this Notice to be forwarded to each customer identified at the address so designated.

THE COURT’S FINAL APPROVAL HEARING

The Court held a Final Approval Hearing on April 7, 2011 at 2:00 p.m. at the Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, Illinois, Courtroom 1219. The purpose of the Final Approval Hearing was to determine, among other things, whether the proposed Settlement, the Plan of Allocation and the application by Lead Counsel for Class Counsel attorneys’ fees and reimbursement of Class Counsel’s expenses are fair, reasonable, and adequate. If there were any objections, the Court considered them at this hearing. As a result, the court approved the Settlement at the Final Approval Hearing. More information will be available May 2011.

WHAT IS THIS CASE ABOUT?

Plaintiffs claim that Defendants caused an artificial increase in the prices of the June 2005 Contract by allegedly taking a large long position in such contract while at the same time acquiring a large long position in the U.S. ten year Treasury note maturing in February 2012. Plaintiffs allege that this caused them and others similarly situated to pay artificially high prices in order to purchase June Contracts to liquidate short positions in the June Contract during the Class Period.

THE SETTLEMENT BENEFITS

Defendants have agreed to pay $118,750,000 in cash to settle this case (the “Settlement Fund”). The Settlement Fund will be placed into a bank account that will earn interest. The Settlement Fund, plus interest accrued, minus taxes, costs, fees and expenses, and a attorney’s fees and costs, and incentive awards (the “Net Settlement Fund”), will be divided among all eligible Class Members who send in valid Proof of Claim forms.

THE OPTIONS AVAILABLE TO CLASS MEMBERS UNDER THIS SETTLEMENT

If you are a Class Member, you have the following options:

SUBMIT A PROOF OF CLAIM AND RELEASE FORM

To qualify to get money from the Settlement Fund, you must timely send in a completed Proof of Claim and Release form with supporting documents (DO NOT SEND ORIGINALS) to the Settlement Administrator. At the link on the left, you may get a Proof of Claim and Release form. Please read the instructions carefully, fill out the Proof of Claim and Release form, include all the documents the form asks for, sign it and have it notarized, and mail it to the Settlement Administrator by first class mail, received on or before June 7, 2011. The Settlement Administrator needs all of the information requested in the Proof of Claim and Release in order to determine what you may be entitled to. You should read the Settlement Agreement and Proof of Claim carefully before submitting your Proof of Claim or determining another course of action. To download a Proof of Claim and Release form please click the link to the left.

OBJECT TO THE SETTLEMENT

The deadline to file an Objection with the Court was March 15, 2011 and has passed.

FURTHER INFORMATION

Further information regarding the Settlement, the Notice of Proposed Class Action Settlement, April 7, 2011 Hearing thereon, and Class Member’s Rights, or how to file your claim may be obtained by contacting the Settlement Administrator or reading through the document links on the left. You may also contact Lead Counsel at the address listed on the Contact Information link on the left.

NOTICE: If you recently received notice of the settlement from your futures commission merchant (“FCM”) and were unable to file a proof of claim prior to the June 7, 2011 claims deadline, then you should file your claim as soon as possible and indicate (a) the date on which you first received notice from your FCM; (b) the name of your FCM; and (c) any additional reasons establishing good cause for filing a claim after the June 7, 2011 claims deadline.

NOTICE: IF YOU HAVE REQUESTED DATA FROM THE CHICAGO MERCANTILE EXCHANGE (“CME”) AS PART OF THE CLAIMS PROCESS AND HAVE NOT RECEIVED SUCH DATA PRIOR TO THE JUNE 7, 2011 CLAIMS DEADLINE, THEN YOU SHOULD STILL FILE A TIMELY PROOF OF CLAIM THAT IS RECEIVED ON OR BEFORE JUNE 7, 2011 WITH THE INFORMATION YOU HAVE AVAILABLE AND NOTE ON THE CLAIM FORM THAT YOU WILL BE SUPPLEMENTING YOUR CLAIM WITH DATA FROM THE CME ONCE SUCH DATA HAS BEEN RECEIVED. (UPDATED 6/1/2011)