The proposed settlement with Ernst & Young LLP (“EY”), if approved, is for $99,000,000 in cash and will resolve all claims against defendant EY and certain other related parties (the “EY Settlement”). You may be a member of the Settlement Class and you may be eligible to share in this settlement if you:
(a) purchased or otherwise acquired Lehman Securities identified in Appendix A to the Notice, (b) purchased or otherwise acquired Lehman Structured Notes identified in Appendix B to the Notice, and/or (c) purchased or otherwise acquired Lehman common stock or call options and/or sold Lehman put options during the period between June 12, 2007 and September 15, 2008, through and inclusive. Excluded from the Settlement Class are (i) the named defendants in the Complaint, (ii) Lehman, (iii) the executive officers and directors of each Defendant or Lehman, (iv) any entity in which any Defendant or Lehman have or had a controlling interest, (v) members of any Defendant’s immediate families, (vi) the plaintiffs named in the actions listed on Appendix C to the Notice (the “Individual Actions”) who do not request removal from the excluded list in accordance with Question 18 of the Notice (the “Individual Action Plaintiffs”); (vii) any person or entity that has (a) litigated claims in any forum against EY arising out of the purchase of Lehman Securities during any portion of the Settlement Class Period and received a judgement, or (b) settled and released claims against EY arising out of the purchase of Lehman Securities during any portion of the Settlement Class Period (as identified on a confidential exhibit that will be produced by EY on a confidential basis to the Claims Administrator, but shall not be provided to Lead Counsel or Lead Plaintiffs or to any other person or entity); and (viii) the legal representatives, heirs, successors or assigns of any such excluded party. Also excluded from the Settlement Class are any persons or entities who exclude themselves by filing a timely request for exclusion in accordance with the requirements set forth in the Notice.