In re: TelexFree Securities Litigation,
Case No. 4:14-md-2566
If You Bought a TelexFree AdCentral or AdCentral Family Package, Class Action Settlements Totaling Over $3.45 Million May Affect Your Rights.
A class action lawsuit brought on behalf of victims of the TelexFree pyramid scheme is currently pending.
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 eight, ninth and tenth settlements reached in this litigation. Seven settlements were previously reached with 17
defendants and related third-parties and have received final approval by the Court.
• New settlements have now been reached in this litigation regarding claims against: Estate of Jeffrey A. Babener (“Babener Estate”);
Steven Labriola (“Labriola”); and Nehra Law Office, Gerald Nehra (individually), and Gerald P. Nehra, Attorney at Law, PLLC (“Nehra”)
(collectively the “Settling Defendants”). The settlements with Babener Estate and Nehra total $3,450,500. All Settling Defendants agreed
to cooperate with the ongoing litigation to the extent set forth in their individual Settlement Agreements.
• The Court in charge of this case still has to decide whether to approve the settlements.
• No payments have yet been made for this litigation. Please see Question #8 of the Notice.
Your legal rights will be affected whether you act or do not act. The Notice includes information on the new settlements and the lawsuit.
Please read the Notice carefully.
Submit your objection explaining why you disagree with the settlements and/or the requested attorneys’ fees
and litigation expenses.
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 and litigation expenses.
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
Defendants for the conduct that is the subject of the lawsuits.
See Questions 9–10 of the Notice for more information.