Lancer Funds Securities Class Action Settlement (PwC Settlement)
On March 16, 2009 and May 6, 2009, the Honorable Kenneth A. Marra of the United States District Court for the Southern District of Florida granted final approval to two partial settlements proposed by some of the parties in the now certified securities fraud class action, Bruhl, et al. v. PricewaterhouseCoopers, et al. (S.D. Fla. 03-23044). Claims against Goldstein Golub Kessler LLP ("GGK") and American Express Tax and Business Services ("AMEX -TB") relating to the onshore fund Lancer Partners, L.P. ("Partners") are being settled for $12.5 million. Claims against PricewaterhouseCoopers (Netherlands Antilles) ("PwC NA") relating to the offshore funds Lancer Offshore, Inc., the OmniFund, Ltd., the Orbiter Fund, Ltd. and the Viator Fund, Inc. ("Offshore Funds") are being settled for approximately $6 million, subject to certain reductions. All other claims are continuing to be litigated.
If you invested in Partners during the period from September 9, 1997 through July 8, 2003, or the Offshore Funds during the period from September 3, 1998 through July 8, 2003, you may be entitled to share in the settlements. The claims deadline was January 20, 2009.
Please see links to the right for copies of the: Notices of Pendency of the Settlements; Proof of Claim and Release form; and Letter from the Receiver.