In re Van der Moolen Holdings N.V. Securities Litigation

The action In re Van der Moolen Holdings N.V. Securities Litigation, settled for a total cash settlement of $8,000,000. The settlement was approved by Judge Robert Sweet for the Southern District of New York, and has been distributed to purchasers of Van der Moolen American Depository Receipts, or ADRs, from the period of October 18, 2001 to October 15, 2003. The action arose from the 2003 specialist scandal, in which numerous specialists on the New York Stock Exchange were accused of engaging in front-running or trading ahead of their clients, and interpositioning their trades between buyers and sellers, among other things. The action represents a recovery of over one-third of the damages suffered by the class.