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SUPPLEMENTAL SETTLEMENT NOTICE REGARDING As directed by an Order of the United States District Court for the Northern District of Illinois (the "District Court") in In re StarLink Products Liability Litigation, MDL Docket No. 1403 (the "Non-StarLink Farmer Actions"), this supplemental notice provides information concerning a proposed program to enhance the value of the proposed settlement (the "Settlement") in the Non-StarLink Farmer Actions. Plaintiffs' Co-Lead Counsel ("Class Counsel") have, through their agent, Enhanced Settlement Solutions LLC, entered into various interlocking agreements on behalf of the Settlement Class to enhance the value of the Settlement to Settlement Class members. You should have previously received the "Notice of Pendency of Class Action, Settlement Class Certification, Proposed Settlement and Fairness Hearing" (the "Notice"). If you have not already received the Notice, you may review or download it from this website by clicking here, or you may request a copy by writing to Non-StarLink Farmer Litigation c/o The Garden City Group, Inc., P.O. Box 9000, #6075, Merrick, New York 11566-9000 or calling toll-free: 1-888-833-4137. The Notice on pages 3-4 contains a brief description of the then potential Enhancement Program which was being negotiated at that time. Class Counsel have successfully completed those negotiations. In summary, if the Enhancement Program is implemented, payment to Settlement Class members of the proceeds of the Settlement will be made in the form of VISA™ Stored Value Cards issued by BANK ONE CORPORATION which (1) can be used for the value stored on the cards as cash wherever VISA™ is accepted; (2) can be redeemed for the value stored on the Stored Valued Cards for cash for a nominal banking fee; and/or (3) can be used at TRACTOR SUPPLY COMPANY stores or through telephone mail order to TRACTOR SUPPLY COMPANY and receive ten (10%) percent discounts on purchases using the Stored Value Cards at TRACTOR SUPPLY COMPANY. ENHANCEMENT OF THE SETTLEMENT Below is a detailed description of the material aspects of the Settlement Enhancement Program. The Settlement Enhancement Program is subject to final approval of this Agreement, pursuant to Rule 23(e) of the Federal Rules of Civil Procedure, by the District Court: Please note, all capitalized terms used herein and not otherwise defined shall have the meaning ascribed to them in the Stipulation of Settlement, dated January 29, 2003 (the "Stipulation"). A copy of the Stipulation is available for review or downloading on this website by clicking here. Class Counsel have entered into an agreement with BANK ONE CORPORATION to issue a Stored Value Card to each Settlement Class member approved by the Claims Administrator and the District Court to receive a payment in the Settlement from the Net Settlement Fund for the amount allocated to each such Settlement Class member in accordance with the Stipulation. Who is Bank One Corporation? BANK ONE CORPORATION is a multibank bank holding company that provides domestic retail banking, finance and credit card services, worldwide commercial banking services, and trust and investment management services. BANK ONE CORPORATION operates banking offices in Arizona, Colorado, Florida, Illinois, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Texas, Utah, West Virginia, Wisconsin, and in certain international markets. BANK ONE CORPORATION also engages in other businesses related to banking and finance, including credit card and merchant processing, consumer and education finance, real estate-secured lending and servicing, insurance, venture capital, investment and merchant banking, trust, brokerage, investment management, leasing, community development and data processing. These activities are conducted through bank subsidiaries and non-bank subsidiaries. For full year 2002, BANK ONE CORPORATION had reported revenues of $16.831 billion and reported net income of $3.3 billion. What Is a Stored Value Card? A Stored Value Card is a type of debit card. A Stored Value Card, however, differs from a standard debit card in that it is not linked to a checking account. Rather, multiple cards are run from a database, and they are all tied to a central account. This central account is kept at the card-issuing bank, and is debited as Stored Value Card holders enter into transactions with their Stored Value Cards. The individual Stored Value Card holders do not have a direct relationship with the bank. The Stored Value Cards will be branded as VISA™. The Stored Value Cards will be accepted anywhere in the world that VISA™ credit cards are accepted. Each Stored Value Card will have its own available balance, as if it belonged to a separate account. The available balance depends on the amount of funds loaded onto the Stored Value Card. Stored Value Cards are always "prepaid"--no credit is offered. How Will The Stored Value Cards Be Funded? Class Counsel, as Court Agent, shall cause the remaining balance of Gross Settlement Fund (less the Deducted Amounts) to be transferred to the Bank within thirty (30) days from the Effective Date of the Settlement and such amount shall be held by the Bank as provided in the Stipulation in interest bearing and/or income generating accounts or instruments which interest and/or income shall accrue for the benefit of the Settlement Class. Class Counsel shall deliver or cause to be delivered to BANK ONE CORPORATION, no more than fifteen (15) days following entry by the District Court of an order approving the allocation of the Net Settlement Fund to and between Settlement Class members following completion of the processing and review of all Proofs of Claims submitted by Settlement Class members as provided in the Stipulation, immediately available funds in the amount of the Net Settlement Fund. Class Counsel shall cause the Claims Administrator to provide BANK ONE CORPORATION with a schedule listing the names and the addresses of the Settlement Class members and the amounts of the value to be stored in each Settlement Class member's Stored Value Card (the "Class List"). Within twenty (20) business days from receipt of the Class List, the BANK ONE CORPORATION shall mail Stored Value Cards to all persons and entities on the Class List to the addresses indicated with the amount of stored value available on the Stored Value Cards set forth on the Class List. THE STORED VALUE CARDS SHALL FUNCTION AS FOLLOWS Good for Purchases Wherever VISA™ is Accepted
Charges Applicable to the Stored Value Cards
Theft and Fraud Protection
Duration
Redeemable For Cash
Customer Service
ADDITIONAL BENEFITS AVAILABLE Class Counsel, through their agent, have entered into a contract with TRACTOR SUPPLY COMPANY. Who Is Tractor Supply Company? TRACTOR SUPPLY COMPANY is an operator of retail farm and ranch stores in the United States. Stores are located in the outlying towns of major metropolitan markets and in rural communities. TRACTOR SUPPLY COMPANY operates 323 stores in 28 states focusing on supplying products for the lifestyle needs of farmers and ranchers. For the fiscal year ended December 28, 2002, TRACTOR SUPPLY COMPANY had reported sales of $1.21 billion, and reported net income of $38.8 million. How Is Tractor Supply Company Involved?
What Discounts Will I Receive From Using the Stored Value Card With Tractor Supply Company?
Do I Receive Any Additional Discounts From Tractor Supply Company?
Do I Have Price Assurance With Tractor Supply Company?
Are There Any Costs For Using The Stored Value Card With Tractor Supply Company?
Can I Place Telephone Orders With Tractor Supply Company?
Can I Purchase From Tractor Supply Company On The Internet Or Through A Catalogue?
APPLICATION OF PLAINTIFFS' COUNSEL As previously disclosed in the Notice, Plaintiffs' counsel currently intend to apply to the District Court for an award of attorneys' fees and for reimbursement of their costs and expenses in the litigation of the Non-StarLink Farmer Actions in a total amount not to exceed one-third (1/3) of the Gross Settlement Fund (including all accrued interest thereon at the time of actual payment of any such fees and/or expenses awarded). In addition, Plaintiffs' counsel will apply for an award of interest on such award of attorneys' fees and expenses from the date of the Fairness Hearing through and including the date of payment of such award of attorneys' fees and expenses to Plaintiffs' counsel at the same rate as earned by the Gross Settlement Fund. Plaintiffs' counsel will apply to the District Court at a later time for payment of all fees and/or expenses incurred solely in connection with administration of the Settlement as provided in the Stipulation. YOUR RIGHTS AS A SETTLEMENT CLASS MEMBER Based upon the estimates of Class Counsel, and their consultants, the Settlement Enhancement Program will substantially increase the value of the original $110,000,000 Settlement Amount to Settlement Class members who properly utilize the benefits of the Stored Value Cards and the attendant discounts. The actual value of the Enhancement Program will, however, depend on how Settlement Class members use their Stored Value Card, whether Settlement Class members use the Stored Value Cards to obtain the available discounts from Tractor Supply Company, whether Settlement Class members use the Discount Certificates, and various other individual decisions that rest entirely with Settlement Class members. However, since the Stored Value Cards may be used as cash or redeemed for cash, the value of the Settlement will never be less than the Settlement Amount. What if the Settlement Enhancement Program Does Not Occur? The Settlement Enhancement Program is not a material term of the Settlement. If, for any reason, the Settlement Enhancement Program is not implemented, Defendants SLLI and Advanta will nevertheless pay their respective shares of the full Settlement Amount of $110,000,000.00 in cash, plus any interest that accrues thereon prior to distribution to Settlement Class members. What Are My Rights? Your rights with respect to the Settlement Enhancement Program are the same as those governing your rights with respect to the Settlement in general. As you have been previously advised in the Notice, if you favor the Settlement and the Enhancement Program, you do not need to do anything except submit a Proof of Claim for either or both Corn Loss and/or Property Damage. If you have not already received the Notice or the Corn Loss Proof of Claim form, you may obtain these documents by writing to Non-StarLink Farmer Litigation, c/o The Garden City Group, Inc., P.O. Box 9000, #6075, Merrick, New York 11556-9000, or calling toll-free: 1-(888) 833-4137; or downloading them from this website by clicking here. If you do nothing, you will be a member of the Settlement Class and, if your claim is properly and timely filed, you may receive a recovery from the Settlement. If you do not wish to be a member of the Settlement Class, you have the right to request exclusion from the Settlement Class, or to remain in the Settlement Class and object to the Settlement or any aspect thereof, including the proposed Settlement Enhancement Program described above. If you wish to be excluded from the Settlement Class, you must request exclusion from the District Court by submitting a Request for Exclusion in writing and postmarked not later than March 21, 2003. Your request must set forth (1) your name and address, or the name and address of the person or entity on whose behalf you are purportedly acting; (2) the number of acres of Non-StarLink Corn harvested in the 2000 growing year; and (3) a clear and unambiguous statement that you wish to be excluded from the Settlement Class. All Requests for Exclusion must be mailed to:
If you properly and timely request exclusion from the Settlement Class, you will not be bound by any order(s) and/or judgment(s) entered in the Non-StarLink farmer actions, and will not be entitled to share in the Settlement, including the proposed Enhanced Program. You will be free to pursue whatever legal rights you may have, if any, against any of the released parties at your own expense. If you do not notify the District Court of your desire to be excluded from the Settlement Class, whether or not you file a Proof of Claim, you automatically will be included in the Settlement Class, and you will be bound by the order(s) and/or judgment(s) entered in the Non-StarLink farmer actions or any of the Non-StarLink farmer actions whether or not you can or will obtain a recovery from the Settlement. Additionally, as discussed in the Notice you previously received, on April 7, 2003, at 10:00 a.m. (CST) the Court will hold a Fairness Hearing, which may, however, be adjourned from time to time by the District Court without further notice. If you do not properly and timely request exclusion from the Settlement Class, you may appear in person or by counsel retained by you at your own expense, and be heard at the Fairness Hearing, to the extent allowed by the District Court, in favor of, or opposition to: (a) the fairness, reasonableness and adequacy of the Settlement; (b) the fairness and equity of the Plan of Allocation; (c) the appropriateness of the application of Plaintiffs' counsel for attorneys' fees and reimbursement of expenses; and/or (d) the appropriateness of the application for special awards to the Plaintiffs. You may also appear, in favor of, or opposition to, the proposed Settlement Enhancement Program. However, no person or entity shall be heard in opposition to the Settlement, the Plan of Allocation, the proposed Enhancement Program, the request for an award of attorneys' fees and reimbursement of expenses by Plaintiffs' counsel and/or the application for special awards to the Plaintiffs, and no papers or briefs submitted by any person or entity will be accepted or considered by the District Court, unless, on or before March 21, 2003, such person or entity: (1) has filed with the Clerk of the Court a notice of such person or entity's intention to appear personally, or, if such person or entity intends to appear by counsel, such counsel files a Notice of Appearance, (2) such person or entity personally or by counsel, to any of the applications before the District Court, submits a written statement describing in full the basis for such person or entity's opposition, and attaches any supporting documentation and a list of any and all witnesses or experts whom such person or entity shall present to the District Court, and (3) has served, on or before March 21, 2003, copies of such notice(s), statement(s), documentation, and list(s) together with copies of any other papers or brief(s) that such person or entity files with the District Court or wishes the District Court to consider at the Fairness Hearing, upon:
EXAMINATION OF PAPERS AND INQUIRIES For more information concerning the Non-StarLink Farmer Actions, the Settlement, the Plan of Allocation, the Enhancement Program, Plaintiffs' counsel's request for an award of attorneys' fees and reimbursement of litigation expenses, and the request for special awards for the plaintiffs, reference is made to the Stipulation, to the orders entered by the District Court, and to other papers available for inspection at the Office of the Clerk of the United States District Court, North District of Illinois, Everett McKinley Dirkson Federal Building, 219 South Dearborn Street, Chicago, Illinois 60604, during business hours. Any inquiries by Settlement Class members concerning this Supplemental Notice, the Notice, or the Proof of Claim forms should be made to Co-Lead Class Counsel, or to the Claims Administrator at: Non-StarLink Farmer Litigation INQUIRIES SHOULD NOT BE DIRECTED TO THE CLERK OF THE COURT OR TO JUDGE MORAN. |
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