Bennett Funding Group Securities Litigation
|Court:||United States District Court, Southern District of New York|
|Case Number:||MDL No. 1153 (JES); 96-Civ-2583 (JES); 97-Civ-2199 (JES); 97-Civ-1246 (JES)|
Previous settlements of $125 million and $14 million with Generali Insurance and Mahoney Cohen (a Bennett auditor) respectively, have already been obtained and distributed by the Bennett bankruptcy estate.
On January 29, 2003, the District Court granted its Preliminary Approval of a settlement between the Plaintiffs and Sphere Drake Insurance plc, et al. for $27.5 million in cash plus accrued interest since October 6, 2000. In order to be eligible to share in the settlement benefits, class members must have submitted a completed and signed proof of claim form, post marked on or before April 25, 2003.