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FREQUENTLY ASKED QUESTIONS 1. What is this case about? A. On January 28, 2003, a 330-page Consolidated Securities Class Action Complaint (the "Complaint") was filed against Tyco International Limited, certain former officers and directors of Tyco, and PricewaterhouseCoopers, alleging that these individuals and entities made false and misleading public statements and omitted material information about Tyco's finances in violation of Sections 10(b), 14, 20A and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") during the Class Period (December 13, 1999 and June 7, 2002). A copy of the Complaint may be viewed by clicking here. 2. Who was eligible to participate? A. Persons who purchased or otherwise acquired Tyco Securities between December 13, 1999 through and including June 7, 2002, were potentially eligible Claimants. 3. What was the amount of the settlement fund? A. The total settlement fund was $3.2 billion. This included $2.975 billion in cash contributed by and on behalf of Tyco, Mark Belnick and Michael Ashcroft, and $225 million in cash contributed by PricewaterhouseCoopers. The settlement funds were placed in interest-bearing escrow accounts for the benefit of the Class. The net settlement fund distributed to Class Members who submitted acceptable Proofs of Claim was reduced by costs, expenses and taxes. 4. How much money will I receive if I filed a claim form? A. Please be advised that approximately 480,000 claims were submitted representing total Recognized Claims of approximately $8.6 billion. The Net Settlement Fund available for distribution is approximately $2.778 billion. Accordingly, it is anticipated that each Authorized Claimant will be paid approximately 32% of his, her or its Recognized Claim. 5. How was my claim be calculated? A. The Settlement Notice, at Exhibit A, provides the formulae for calculating any Class Member's Recognized Claim. The net settlement fund will be allocated in proportion to each Authorized Claimant's Recognized Claim. To download a copy of the Settlement Notice, please click here. 6. Who is the Claims Administrator? A. The Garden City Group, Inc. 7. Where can I obtain additional information about the litigation? A. You may obtain additional information about the litigation by calling the toll-free hotline at (888) 326-8965. Please do not contact the Court. 8. Where can I obtain a copy of the Settlement Notice? A. You can obtain a Settlement Notice by clicking on the following link: Notice 9. If I have further questions, can I submit my questions via telephone or email? A. If you have questions which are not answered by this website, please contact us at the telephone number (888) 326-8965. This hotline contains various information about the settlement and there are operators available from 8:00am to 6:00pm Eastern. You can also reach us online at questions@tycoclasssettlement.com. 10. When were the checks mailed? On March 4, 2009, the Claims Administrator began issuing checks to those claimants who filed a valid Proof of Claim form, had a Recognized Loss pursuant to the Plan of Allocation and an award of $10.00 or more. 11. What is the total amount of the initial distribution? $2,500,519,945.52 12. Was all of the money distributed? No. Per the Court's February 3, 2009 Order, approximately 90% of the Net Settlement Fund was distributed. A reserve is being withheld pending resolution of certain contingencies. A second distribution is expected to occur in 12 to 18 months. 13. I cannot cash/negotiate my settlement check, how can I request that it be reissued? If you need to request that your check be reissued, you must submit a request in writing. Please include your full name, address, claim number (if available), and daytime telephone number with the best time of day to reach you. In addition, please include a statement explaining the need for reissue, and mail to: Tyco International Ltd. Securities Litigation Settlement 14. I received a check for a deceased family member, how can I request that it be reissued in my name? If you received a check for a deceased family member and need to request that the check be re-issued, you must submit a request in writing. Please include your full name, address, claim number (if available), and daytime telephone number with the best time of day to reach you. Please be advised you must include a copy of the death certificate and appropriate documentation to support the name in which the check should be re-issued, and mail to: Tyco International Ltd. Securities Litigation Settlement 15. How should I report this distribution on my taxes? The In re Tyco International Ltd., Securities Litigation Settlement Fund is a "Qualified Settlement Fund", as defined in Treas. Reg. Section 1.468B-1 through 5. Please note that the regulations provide in part that "whether a distribution from a Qualified Settlement Fund 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." The claims upon which the In re Tyco International Ltd., Securities Litigation were based involved allegations that members of the Settlement Class were misled into purchasing the common stock, notes or options on common stock of Tyco International Ltd. at artificially inflated prices during the Class Period in violation of the federal securities laws. The tax treatment of this distribution varies based upon the recipient's tax status and treatment of his, her or its investments. Therefore, we cannot determine the appropriate tax reporting for all recipients and we cannot provide individual tax advice. The tax treatment of distributions from the Net Settlement Fund is the responsibility of each recipient. You should consult your tax advisor to determine the tax consequences, if any, of this distribution to you. |