City of Austin Police Retirement System v. Kinross Gold Corp. Settlement

Frequently Asked Questions

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General Information

1.      What is the current case status?

On October 5, 2016 the Court entered its Order Distributing The Net Settlement Fund. The initial distribution commenced on December 12, 2016.

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2.      How Can I request a replacement check?

If you require a replacement check, you need to submit a written request, stating your name, claim number, current address, and reason a new check is required. This request can be submitted in writing to:

City of Austin Police Retirement System v. Kinross Gold Corp. Settlement
c/o Garden City Group, LLC
PO Box 10165
Dublin OH 43017-3165
Or emailed to:

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3.      What is this lawsuit about?

On February 16, 2012, a putative securities class action complaint was filed in the Court against Kinross and certain of its former officers and directors. That complaint alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated under Section 10(b), resulting from Defendants’ public statements between August 10, 2011 and January 16, 2012, inclusive.

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4.      What is a class action?

A class action is a type of lawsuit in which one or several individuals or entities prosecute claims on behalf of all members of a group of similarly-situated persons and entities to obtain monetary or other relief for the benefit of the entire group. Class actions avoid the necessity of each member of a class having to file his, her, or its own separate lawsuit to obtain relief. Class actions are used to decide legal and factual issues that are common to all members of a class. The Court certified this case as a class action by order dated May 27, 2014.

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5.      Why did I receive a Notice?

A Notice was sent to you pursuant to an order of the Court because you, someone in your family, or an investment account for which you serve as a custodian may have purchased Kinross common stock on the open market in the United States (including, but not limited to, the New York Stock Exchange or any other U.S. trading platform) during the Class Period.

As a potential Class Member, you have a right to know about your options under the Court approved Settlement.

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6.      Who is considered a Class Member?

The Class is defined as all persons or entities that purchased Kinross common stock on the open market in the United States (including, but not limited to, the New York Stock Exchange or any other U.S. trading platform) between August 11, 2011 and January 16, 2012, inclusive (“Class Period”), and were purportedly damaged thereby.

Excluded from the Class are the following, and their immediate family members:

  • Defendants;
  • Kinross’s Board of Directors during the Class Period;
  • Kinross’s Senior Leadership Team during the Class Period; and
  • any firm, trust, corporation, officer, director, or other entity in which any Defendant has a controlling interest, or which is related to or affiliated with any of the Defendants, and the legal representatives, affiliates, heirs, successors-in-interest or assigns of any such excluded party.

Also excluded from the Class are any putative Class Members who excluded themselves by filing a request for exclusion in accordance with the requirements set forth in the Notice.

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7.      What will I receive from the Settlement?

The Contributing Insurers are paying $33,000,000 in cash for the benefit of the Class (the “Gross Settlement Fund”).

The Net Settlement Fund will be distributed to Authorized Claimants in accordance with the Plan of Allocation approved by the Court. The Net Settlement Fund will not be distributed until the time for any petition for rehearing, appeal, or review, whether by certiorari or otherwise, has expired.

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8.      What are the Lead Counsel’s fees and costs?

The Court awarded attorneys’ fees of 30% of the Gross Settlement Fund, plus interest thereon, and $823,067.03 in reimbursement of expenses, which were incurred in connection with the litigation of the Action.

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9.      What Is The Legal Effect Of The Settlement On My Rights?

If you are a member of the Class, the Settlement will affect you. On October 15, 2015, the Court approved the Settlement, dismissing the Action with prejudice and all Class Members fully released and discharged the Defendants from all claims for relief arising out of or based on Lead Plaintiff’s allegations. When a Person “releases” claims, that means that Person cannot sue the Defendants for any of the claims covered by the release.

If you are a Class Member and you submit a valid and timely Claim Form, you will receive a payment based upon the distribution formula described in the Notice.

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10.      How do I participate in the Settlement?

Each Person wishing to participate in the distribution must have timely submitted a valid Claim Form establishing membership in the Class, postmarked on or before September 17, 2015, and all required documentation. Any Proof of Claim submitted after September 17, 2015 will be noted as a late claim, and if otherwise eligible, will be presented to the Court as such.

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11.      How do I exclude myself from the Settlement?

The deadline for Exclusion has passed. To be excluded from the Settlement, you must have submitted a written request, postmarked on or before September 17, 2015.

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12.      What happens if I decided to be excluded from the Class?

If you timely and validly requested exclusion from the Class, (a) you will be excluded from the Class, (b) you will not share in the proceeds of the Settlement described herein, (c) you will not be bound by any judgment entered in the case, and (d) you will not be precluded, by reason of your decision to request exclusion from the Class, from otherwise prosecuting an individual claim, if timely, against the Defendants based on the matters complained of in the litigation.

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13.      Can I object to the Settlement, Plan of Allocation and/or Fee and Expense Application?

The deadline to object to the Settlement, Plan of Allocation and/or Fee and Expense Application has passed. To object, you must have submitted a written objection that was delivered and file marked no later than September 17, 2015.

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14.      What is the eligible CUSIP/Ticker symbol for the eligible stock?

CUSIP: 496902404
Ticker: KGC

Kinross common stock purchased on the open market in the United States are the only securities that are eligible in this settlement. Purchases of Kinross common stock listed on the Toronto Stock Exchange or Frankfurt Stock Exchange are not eligible.

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15.      What are acceptable forms of supporting documentation?

Your Claim Form must be accompanied by adequate supporting documentation for the transactions reported therein, in the form of broker confirmation slips, broker account statements, an authorized statement from the broker containing the transactional information found in a broker confirmation slip, or such other documentation as is deemed adequate by Lead Counsel.

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16.      How do I update my contact information?

If your address changes from the address to which the Notice was directed, you must notify the Claims Administrator of your new address as soon as possible. Failure to keep the Claims Administrator informed of your address may result in the loss of any monetary award you might be eligible to receive.

Please send a request to update your contact information, including your old address, new address, new telephone number, date of birth, and Social Security number, to the Claims Administrator at the address listed below:

City of Austin Police Retirement System v.
Kinross Gold Corp. Settlement
c/o Garden City Group, LLC
PO Box 10165
Dublin OH 43017-3165

Or you may send the request via email to the Claims Administrator at

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17.      Where can I get additional information on the Settlement?

For precise terms and conditions of the Settlement, you may review the Stipulation filed with the Court, as well as the other pleadings and records of this litigation, which may be inspected during business hours, at the office of the Clerk of the Court, United States District Court, Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, at, or from Lead Counsel’s website, You may also call 1-877-940-5048 or email the Claims Administrator at, stating that you are requesting assistance regarding the Kinross securities litigation. If you have any questions about the settlement of the Action, you may contact Lead Counsel:

U. Seth Ottensoser
Michael S. Bigin
Laurence J. Hasson
10 East 40th Street, 28th Floor
New York, New York 10016
(212) 779-1414

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