In re: TelexFree Securities Litigation,
Case No. 4:14-md-2566-TSH
If You Bought a TelexFree AdCentral or AdCentral Family Package, Class Action Settlements Totaling Over $95 Million May Affect Your Rights.
A class action lawsuit brought on behalf of victims of the TelexFree Pyramid Scheme is currently pending before Judge Timothy S. Hillman of the United States
District Court for the District of Massachusetts.
Plaintiffs allege that they were injured as a result of the Defendants’ assistance and participation in the TelexFree Pyramid Scheme. Defendants dispute
Plaintiffs’ claims.
• These are the fifth, sixth and seventh settlements reached in this litigation. Four settlements were previously reached with eleven Defendants and related
third-parties and have received final approval by the Court.
• New settlements totaling $95,525,000 have now been reached in this litigation regarding claims against: T.D. Bank, N.A. (“TD Bank”); International Payout
Systems, Inc., (“IPS”), Natalia Yenatska and Edwin Gonzalez (the “IPS Defendants”); and Ryan Mitchell and Telecom Logic (the “Mitchell” or “Mitchell/Telecom
Logic Defendants”) (collectively the “Settling Defendants”).
• The Court in charge of this case still has to decide whether to approve the settlements.
Your legal rights will be affected whether you act or do not act. Read the Notice Carefully.
Submit your objection explaining why you disagree with the settlements and/or the requested attorneys’ fees, litigation expenses, and incentive awards.
See Question 9 of the Notice for more information.
This is the only option that allows you to individually sue the Settling Defendants about the claims asserted in this case. You will no longer be a
member of the Settlement Class and you will not receive any funds from the settlements.
See Question 9 of the Notice for more information.
Ask to speak in Court about any aspect of the settlements and/or the requested attorneys’ fees, litigation expenses, and incentive awards.
See Questions 11–12 of the Notice for more information.
You will remain a member of the Settlement Class. You will give up any rights you currently have to separately sue the Settling Defendant for the
conduct that is the subject of the lawsuits.
See Questions 9–10 of the Notice for more information.