Overview Of The Settlement

On March 21, 2012, the Court granted final approval concerning claims of persons and entities who purchased or otherwise acquired Merrill Lynch Alternative Note Asset Trust Series 2007-A3, 2007-AF1, 2007-F1, Merrill Lynch First Franklin Mortgage Loan Trust Series 2007-2, 2007-3, 2007-4, 2007-A, Merrill Lynch Mortgage Investors Trust Series 2006-MLN1, 2006-FM1, 2006-FF1, 2006-RM5, MLCC 2006-2, 2006-AHL1, 2006-RM3, 2006-WMC1, 2006-WMC2, 2006-A1, or Ownit Mortgage Loan Trust Series 2006-2, and were damaged thereby (the "Settlement Class").

Lead Plaintiff, on behalf of the Settlement Class, has agreed to settle all Released Claims against Defendants and other Released Parties in exchange for a settlement payment of $315 million in cash (the “Settlement Amount”).

Defendants have denied and continue to deny each and all of the claims alleged by Lead Plaintiff in the Action. Defendants expressly have denied and continue to deny all charges of wrongdoing or liability against them arising out of any of the conduct, statements, acts or omissions alleged, or that could have been alleged, in the Action.

Based on the total initial face dollar value of the Certificates, and assuming all purchasers of the initially offered certificates elect to participate, the estimated average distribution after payment of Court-approved attorneys’ fees and expenses, is $15.57 per $1,000 in initial certificate value of the Merrill Lynch Certificates. Class Members may recover more or less than this amount depending on factors described in the Notice.

What Are My Options?

Please consult the Notice for more details on your options.

Settlement Hearing

Pursuant to the Settlement Hearing on March 21, 2012, the Honorable Jed S. Rakoff granted approval of the Class Action Settlement and Plan of Allocation.





Important Dates
DateDeadline
February 29, 2012
[Expired]
Exclusion Deadline
(received)
February 29, 2012
[Expired]
Objection Deadline
(filed and received)
March 21, 2012
[Approved]
Settlement Hearing
April 25, 2012
[Expired]
Claim Form Deadline
(postmarked)

Your Options

  • To find out details regarding the Settlement, please consult the Notice