|
Chicago, Illinois
February 14, 2003
The following statement is
being issued by Cohen, Milstein, Hausfeld & Toll, P.L.L.C.;
Milberg Weiss Bershad Hynes & Lerach LLP; Seeger Weiss LLP; and
Wolf Haldenstein Adler Freeman & Herz LLP regarding a proposed
class action settlement In Re StarLink Corn Products Liability
Litigation:
SUMMARY SETTLEMENT
NOTICE IN RE STARLINK CORN PRODUCTS LIABILITY LITIGATION
This Document Relates To: ALL NON-STARLINK FARMER ACTIONS
MDL Docket No. 1403
Judge James B. Moran
IF YOU GREW OR HARVESTED NON-STARLINK CORN DURING ANY YEAR SINCE
1998, YOU SHOULD READ THIS NOTICE CAREFULLY.
YOU MAY BE ENTITLED TO A RECOVERY FROM THE PROPOSED SETTLEMENT
OF THE ABOVE LISTED LAWSUIT AND YOUR RIGHTS MAY BE AFFECTED.
This notice is only a summary of the Settlement.
Call 1 (888) 833-4317, visit
http://www.non-starlinkfarmerssettlement.com or write to the
Claims Administrator to learn more about this Settlement.
A settlement has been proposed in class action lawsuits brought
on behalf of all persons and entities who operated farms in the
United States from which corn grown for grain was harvested
since 1998 (the "Settlement Class"). The suit seeks compensation
for alleged losses to United States corn farmers who did not
grow corn from StarLink(TM) seed. If you fit within the
definition of the Settlement Class, you have various rights
including, but not limited, to: (1) remaining in the Settlement
Class and potentially receiving a recovery from the Settlement;
or (2) requesting exclusion from the Settlement Class and
pursuing individually whatever claims you believe you have.
The United States District Court for the Northern District of
Illinois (located in Chicago) authorized this notice. The Court
will hold a hearing on April 7, 2003, to decide whether the
proposed Settlement should be approved and implemented.
Who Is Included?
This Settlement covers farmers and other persons (individuals,
partnerships, and corporations) with a financial interest in
non-StarLink corn harvested between 1998 and the present. You
may be covered by the Settlement if one of the following
describes you:
(1) you operated a farm from which non-StarLink corn was
harvested in 1998, 1999, 2000, 2001 or 2002, whether or not your
crops or corn stores suffered actual Cry9C contamination; or
(2) you operated a farm from which non-StarLink corn was
harvested at any time since 1998 and suffered actual Cry9C
contamination of your crops or corn stores.
The Settlement does not cover corn grown from StarLink(TM) corn
seed under a license from an affiliate of StarLink Logistics,
Inc., formerly known as Aventis CropScience USA Holding, Inc.
("SLLI"), and sold by Advanta USA, Inc., formerly known as Garst
Seed Company ("Advanta"), or any other distributor of StarLink
seed or corn seed containing Cry9C.
What Is StarLink?
StarLink was a type of genetically modified, bio-engineered corn
developed by SLLI. StarLink was genetically altered to contain
an insecticidal protein, known as Cry9C, that enables it to
resist various corn pests. StarLink corn seed was sold in the
United States between May 1998 and October 2000.
What Is The Lawsuit About?
The lawsuit alleged that SLLI and Advanta licensed, marketed or
otherwise distributed StarLink corn seed in a manner that caused
widespread contamination of U.S. corn supplies, diminishing the
market value of corn. The lawsuit also alleged that SLLI and
Advanta are responsible for StarLink contamination of the corn
crops, fields, equipment and storage facilities of non-StarLink
corn farmers.
SLLI and Advanta deny all allegations of wrongdoing and have
asserted numerous defenses. The Court has not decided in favor
of one side or the other. Instead, the parties agreed to a
Settlement.
What Does The Settlement Provide?
The Settlement provides for payment of $110,000,000.00, plus
accruing interest, which will be paid in cash, or through
distribution of prepaid cards accepted anywhere Visa(TM) or
MasterCard(TM) are accepted and redeemable for cash at their
face amount at a financial institution subject to such
institutions' normal charges for such transactions. If the
Settlement is paid in prepaid cards, in addition to the prepaid
cards being useable as, or redeemable for cash at their face
value, a wide variety of goods and equipment generally used by
the farming community will be made available at discounts off
such products' regular retail, sale, and bulk purchase prices
(the "Settlement Enhancement"). There is, however, no assurance
at this time that the Settlement Enhancement will be
accomplished. If the Settlement Enhancement is accomplished, a
further publication notice over the Internet will be issued on
or before March 12, 2003, and will be posted on the following
websites:
http://www.non-starlinkfarmerssettlement.com;
http://www.cmht.com;
http://www.milberg.com and
http://www.whafh.com.
Before any distributions, to members of the Settlement Class,
the proceeds of the Settlement will be used to pay plaintiffs'
attorneys' fees and costs, the special awards to the
named-plaintiffs, and the costs associated with notice to the
Settlement Class and administration of the Settlement. All of
the foregoing fees and expenses must be approved by the Court.
No Settlement Class member will be asked or required to pay any
fees or costs directly or otherwise suffer a net out-of-pocket
loss as a result of participating in the Settlement.
What Can You Get From The Settlement?
Two types of compensation are offered to Non-StarLink farmers
who file timely and properly completed Proofs of Claims:
(1) Property Damage: Eligible property damage claimants will be
paid for lost market value, transportation, and storage costs
resulting from actual contamination of your crops, fields,
equipment and property, less any compensation such eligible
property damage claimant received to date from Aventis
CropScience USA, LP or SLLI. Total claims under this category
are capped at $10 million; if the total property damage claims
exceed $10 million, each claimant's compensation will be reduced
proportionately.
(2) Corn Loss: All eligible non-StarLink corn farmers (including
all property damage claimants) will receive a proportionate
share of the balance of the proceeds of the Settlement as
compensation for alleged reduction in the general price of corn
due to the presence of StarLink corn in the United States corn
supply based on the numbers of acres of corn that each eligible
non-StarLink farmer harvested during the year 2000 (or 10% of
the average acres in the years 1998 through 2002, if the Corn
Loss claimant did not harvest corn in the year 2000) divided by
the total acreage covered by all Corn Loss claimants.
In exchange for these benefits, Settlement Class members will
release all claims against SLLI and Advanta relating to
StarLink.
How Do You Participate In The Settlement?
If you have NOT RECEIVED a Notice and Corn Loss Proof of Claim
in the mail, IMMEDIATELY call the toll-free number, visit the
website, or write to the Claims Administrator for a copy of the
full Notice explaining all Settlement terms and the appropriate
Proof of Claim form(s). Then, if you believe that you are a
Settlement Class member, send in the appropriate Proof of Claim
form(s), along with all documents specified in the accompanying
instructions to the applicable Proof of Claim form(s), to claim
your recovery. To obtain the necessary documentation, you should
contact:
Non-StarLink Farmer Litigation
c/o The Garden City Group, Inc.
Claims Administrator
P.O. Box 9000 #6075
Merrick, NY 11566-9000
1 (888) 833-4317
http://www.non-starlinkfarmerssettlement.com
* Corn Loss Proof of Claim forms must be postmarked NO LATER
THAN May 31, 2003.
* Property Damage Proof of Claim forms must be postmarked NO
LATER THAN July 31, 2003.
There is no charge for filing Proof of Claim forms, but you must
file in a timely manner Proof of Claim form(s) to receive
benefits.
Your Other Options
If you are a Settlement Class member, you will be legally bound
by this Settlement, whether or not you file a Proof of Claim
form, unless you request exclusion from the Settlement Class. If
you do not exclude yourself, you will not be able to sue SLLI or
Advanta over StarLink. If you do not want to be legally bound by
the Settlement, you must exclude yourself NO LATER THAN March
21, 2003. If you exclude yourself from the Settlement, you WILL
NOT receive any recovery from the Settlement. If you
stay in the Settlement Class, you have the right to object to
the terms of the Settlement, the Plan of Allocation of the
proceeds of the Settlement, plaintiffs' attorneys' request for
attorneys' fees and/or expenses and/or the request for Special
Awards for certain named-plaintiffs. You also have the right, if
you remain in the Settlement Class, to appear personally and/or
by counsel of your own choosing, but only at your own cost and
expense. If you wish to exercise any of these rights, you must
file the appropriate documentation NO LATER THAN March 21, 2003.
The website and full Notice explain how to exclude yourself,
submit objections or personally appear.
The Court will hold a hearing in this case, called In re
StarLink Corn Products Liability Litigation, MDL No. 1403, on
April 7, 2003, at 10:00 a.m. (CST), in Courtroom 1843, at the
United States Courthouse, United States District Court for the
Northern District of Illinois, Everett McKinley Dirksen Federal
Building, 219 South Dearborn Street, Chicago, IL 60604, to
consider whether to approve the Settlement, the Plan of
Allocation, the plaintiffs' attorneys' request for fees and
expenses, and the plaintiffs' request for Special Awards. The
date, time and location of this hearing may change; you may
check the date, time and location at
http://www.non-starlinkfarmerssettlement.com;
http://www.cmht.com;
http://www.milberg.com or
http://www.whafh.com. You may
ask to appear at the hearing, but you do not have to appear
personally to file your objections.
PLEASE DO NOT CONTACT THE JUDGE OR THE CLERK OF THE COURT FOR
INFORMATION.
SOURCE Cohen, Milstein, Hausfeld & Toll, P.L.L.C.; Milberg Weiss
Bershad Hynes & Lerach LLP; Seeger Weiss LLP; and Wolf
Haldenstein Adler Freeman & Herz LLP
|
