Update from Class Counsel: June 18, 2013
The Claims Administrator has received the $25 million tax reserve and has started the process of completing expense payments and distributions under the October 9, 2012, Order Approving Plan of Allocation. Final distribution payments are expected to be mailed within the next 30 days.
Nixon Peabody LLP, Class Counsel
Tuttle v. New Hampshire Med. Malpractice Joint Underwriting Ass'n, et al.,
Docket No. 217-2010-CV-414
What is this case about?
NHMMJUA Policyholders sued NHMMJUA and its Board of Directors (the "Defendants") to recover damages; they claim NHMMJUA breached its contracts by not returning excess premiums to Policyholders. While that case was pending, New Hampshire RSA 404-C:14 was enacted which requires that the NHMMJUA deposit excess premiums with a New Hampshire Superior Court for return to Policyholders. The Court has preliminarily certified this case as a class action and will consider final certification of the class at a hearing to be held on June 12, 2012 at 9:00 a.m. Lead Plaintiffs have submitted a Proposed Plan of Allocation for the return of monies to Policyholders as required by the new law. If you are a Class Member, your rights will be affected by this legal action.
Who is a Class Member?
The Class includes "All entities or individuals who purchased insurance from the NHMMJUA on or after January 1, 1986." Individuals insured under the policies are not Class Members unless they can provide evidence of direct payment of premiums for coverage.
What is my Share of the Plan?
If approved by the Court, Class Members will be entitled to a percentage share of the distribution equal to the Policyholder's percentage of total premiums paid since January 1, 1986. This distribution will be reduced by Court-approved awards to the Lead Plaintiffs, costs of notice and administration, attorneys' fees, costs and expenses ("Net Distribution Fund").
What Are My Options?
- If you are a Class Member, you do not need to take any action if you wish to participate in this class action and obtain a portion of the Net Distribution Fund.
- SUBMIT A CLAIM: If you are a Named Insured under a NHMMJUA who paid the premiums for coverage, an owner of a now defunct policyholder, or personal representative of a deceased policyholder and wish to be recognized as a Class Member, you must have filed a Proof of Claim no later than April 16, 2012.
- EXCLUDE YOURSELF: Requests for Exclusion must have been received no later than April 16, 2012. If you asked to be excluded, you are not eligible to receive any distribution payment, and you cannot object to the Plan. You will not be legally bound by the Plan and you will retain your right to sue about the claims in this Plan.
- OBJECT: Written objections must have been filed and served on the Court and Counsel no later than August 1, 2012. A notice of a request to speak at the Final Hearing must have been filed and served on the Court and Counsel no later than August 1, 2012.
If the Court grants final certification of the class, a Final Hearing will be held on September 4, 2012 at 9:00 a.m., in the Merrimack County Superior Court, Concord, NH, to determine whether entry of judgment for the Class is appropriate and whether the Proposed Plan of Allocation is fair, adequate and reasonable to the Class.