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Commonly Asked Questions


1. AM I BEING SUED?

Answer:

No, you are not being sued.

2. WHY DID I GET A NOTICE PACKAGE IN THE MAIL?

Answer:

You or someone in your family are or may be a member of the In re 2014 RadioShack ERISA Litig.,Master File No. 4:14-cv-00959-O Settlement Class, which is defined as:

All Persons who were participants in or beneficiaries of the RadioShack 401(k) Plan and RadioShack Puerto Rico 1165(e) Plan (together, the “Plan” or “Plans”) at any time during the period from November 30, 2011 to January 7, 2016 (the “Class Period”), and whose accounts in the Plans included investments in RadioShack Stock.

If you fall within the definition of the Settlement Class, you have a right to know about the Settlement and all the options available to you regarding the proposed Settlement currently pending before the United States District Court for the Northern District of Texas,Fort Worth Division (the “Court”).

3. WHAT IS THE ACTION ABOUT?

Answer:

In this action (“Action”), Named Plaintiffs claim that Wells Fargo Bank, N.A. and Banco Popular de Puerto Rico (the “Trustee Defendants”),breached their fiduciary duties owed to the participants in and beneficiaries of the Plans under the Employee Retirement Income Security Act of 1974(“ERISA”) arising from the Plans’ investments in RadioShack Stock during the Settlement Class Period.  The Trustee Defendants have agreed to the Settlement. The remaining defendants, the RadioShack 401(k) Plan Administrative Committee, the RadioShack Puerto Rico Plan Administrative Committee, James F.Gooch, Joseph C. Magnacca, Robert E. Abernathy, Frank J. Belatti, Julia A.Dobson, Daniel A. Feehan, H. Eugene Lockhart, Jack L. Messman, Thomas G. Plaskell,Edwina D. Woodbury, Mark Barfield, Karina Davis, Eric Hales, Justin Johnson,Michael Keyser, Kevin Krautkramer, Martin Moad, and Sri Reddy (the“Non-Settling Defendants”) have not settled any claims with the Named Plaintiffs and continue to litigate the Action.

4. WHY IS THIS ACTION A CLASS ACTION?

Answer:

In a class action, one or more plaintiffs, called “named plaintiffs” sue on behalf of people who have similar claims.  All of these people who have similar claims collectively make up the “class” and are referred to individually as “class members.”  One case resolves the issues for all class members together.  Because the wrongful conduct alleged in this Action affected a large group of people –the participants in the Plan during the Settlement Class Period – in the same way, the Named Plaintiffs filed this case as a class action.

5. HOW DO I KNOW IF I AM A SETTLEMENT CLASS MEMBER?

Answer:

You are a member of the Settlement Class if you fall within the definition of the Settlement Class preliminarily approved by Judge ReedO’Connor:

All Persons who were participants in or beneficiaries of the RadioShack 401(k) Plan and RadioShack Puerto Rico 1165(e) Plan (together, the “Plan” or “Plans”) at any time during the period from November 30, 2011 to January 7, 2016, and whose accounts in the Plans included investments in RadioShack Stock.

If you purchased or held units RadioShack Stock within your Plan(s) account(s) during the Class Period above, you are a Settlement Class Member.

6. WHAT DOES THE SETTLEMENT PROVIDE FOR ME AND OTHER MEMBERS OF THE CLASS?

Answer:

A Settlement Fund is being established in the Action.  The proposed Settlement Amount is $900,000(Nine Hundred Thousand U.S. Dollars), which comprises the Settlement Fund.  The Settlement Fund will be distributed according to a Court-approved Plan of Allocation.  In this case, the proposed Plan of Allocation provides that the amount in the Settlement Fund, including interest, and after payment of, or establishment of reserves for, any taxes and Court-approved costs, fees, and expenses, including fees and expenses of Class Counsel, and the Settlement Administrator, will be distributed to Settlement Class Members who are entitled to a recovery pursuant to the Plan of Allocation.

7. HOW MAY I OBTAIN A PAYMENT?

Answer:

The Settlement Agreement and proposed Plan of Allocation describe how the Net Settlement Fund will be distributed to Settlement Class Members.  A distribution of the Net Settlement Fund will be made by check to Settlement Class members’ last known addresses.  The distribution will be made to the extent possible such that these Settlement Class members have the option to roll their distribution amount into an individual retirement account (IRA) without being subject to income tax withholding. Should Settlement Class members have difficulty rolling their distributions into an IRA, the Trustee Defendants will assist Class Counsel in good faith to resolve the Settlement Class member’s issue(s).  The checks issued to these Settlement Class members shall be valid for 180 days.

8. HOW MUCH WILL MY PAYMENT BE?

Answer:

You are not responsible for calculating the amount you maybe entitled to receive under the Settlement.

Your share (if any) of the Settlement Fund less the fees and expenses described above, will depend on your alleged loss, compared to other Settlement Class Members’ alleged losses, related to Plan investments in RadioShack Stock at any time during the period November 30, 2011 and January 7,2016.  Each Settlement Class Member’s share will be calculated by the Settlement Administrator according to a Court-approved Plan of Allocation. Because the Settlement proceeds are less than the total losses alleged by the Settlement Class, each Settlement Class Member’s recovery will be less than his or her alleged loss.  Your Settlement payment (subject to the minimum allocation provision) will be calculated in accordance with a Court-approved Plan of Allocation, the proposed version of which is available on this website.

If you have questions regarding allocation of the Settlement, please contact Class Counsel at RSHtrusteesettlement@ktmc.com or by calling the toll-free number 877-522-0442.

9. DO I HAVE A LAWYER IN THIS CASE?

Answer:

The Court has appointed the law firms of Kessler Topaz Meltzer & Check, LLP; Stull, Stull, & Brody; and Connolly Wells & Gray LLP as Class Counsel for the Plaintiffs in this Action.  You will not be charged directly by these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.  If you hire your own lawyer at your own expense for the purposes of filing an objection to the Settlement on your behalf, please see answer to question Nos. 12 and 13 below for further information.

10. HOW WILL CLASS COUNSEL BE PAID?

Answer:

In advance of the objection deadline, Class Counsel will file a motion for the award of attorneys’ fees and reimbursement of out-of-pocket expenses.  This amount applied for will be no more than thirty-three and one-third percent (33 1/3%) of the Settlement Fund, plus reimbursement of out of pocket litigation expenses incurred in connection with the prosecution of the Action.  This motion will be considered at the Fairness Hearing described below. The Trustee Defendants will not take any position on Class Counsel’s motion for attorneys’ fees and expenses.

11. CAN I EXCLUDE MYSELF FROM THE SETTLEMENT CLASS?

Answer:

You do not have the right to exclude yourself from the Settlement.  The proposed Settlement Class in this Action is a non-opt-out class action under Federal Rule of Civil Procedure 23(b)(1).  Thus, it is not possible for any Class member to exclude himself or herself from the Settlement.  As a Settlement Class Member, you will be bound by any judgments or orders that are entered in the Action for all claims that were or could have been asserted in the Action or are otherwise released under the Settlement.

12. WHAT DOES IT MEAN TO OBJECT TO THE SETTLEMENT?

Answer:

Although you cannot opt out of the Settlement, you can object to the Settlement and ask the Court not to approve it.  Objecting is simply telling the Court that you do not like something about the Settlement or the request for attorneys’ fees and reimbursement of litigation expenses or Case Contribution Awards for the Named Plaintiffs.  Filing an objection will not have any bearing on your right to a Settlement distribution if the Court approves the Settlement and you are eligible to receive a payment pursuant to the Plan of Allocation.

13. HOW DO I TELL THECOURT THAT I OBJECT TO THE SETTLEMENT?

Answer:

If you are a Settlement Class Member, you may object to the Settlement if you do not like any part of it. You may also give reasons why you think the Court should not approve the Settlement.  To object, you must send a letter or other writing saying that you object to the Settlement in the In re 2014 RadioShack ERISA Litigation, Master File No.4:14-cv-00959-O.  Be sure to include your name, address, telephone number, signature, and a full explanation of all reasons you object to the Settlement. Your written objection must be mailed to The Clerk of the Court of the United States District Court for the Northern District of Texas, Fort Worth Division via First-Class Mail and must be received no later June 20, 2016.  The mailing address is:  Clerk of the Court, United States District Court for the Northern District of Texas, Fort Worth Division, 501 W. 10th Street, Room 310, Fort Worth, Texas, 76102-3673.

Written objections must also be sent to the following attorneys by June 20, 2016:

Class Counsel

Edward W. Ciolko

Mary K. Gyandoh

Julie Siebert-Johnson

KESSLER TOPAZ METZER & CHECK, LLP

280 King of Prussia Road

Radnor, PA 19087

Telephone: (610) 667-7706

Facsimile: (610) 667-7056

 

Gerald D. Wells, III

Robert J. Gray

CONNELLY WELLS & GRAY LLP

2200 Renaissance Blvd, Suite 308

King of Prussia, PA 19406

Telephone: (610) 822-3700

Facsimile: (610) 822-3800

Michael J. Klein            

STULL, STULL & BRODY

6 East 45th Street

New York, NY 10017

Telephone: (212) 687-7230

Facsimile: (212) 490-2022

Wells Fargo's Counsel

Russell L. Hirschhorn

PROSKAUER ROSE LLP

Eleven Times Square

New York, NY 10036

Telephone: (212) 969-3286

Facsimile: (212) 969-2900

 

Howard Shapiro

Stacey C.S. Cerrone

PROSKAUER ROSE LLP

650 Poydras Street, Suite 1800

New Orleans, LA 70130

Telephone: (504) 310-4085

Facsimile: (504) 522-5771

Banco Popular's Counsel

Nancy J. Sennett

Aaron R. Wegrzyn

FOLEY & LARDNER LLP

777 East Wisconsin Avenue

Milwaukee, WI 53202-5306

Telephone: (414) 297-5522

 You must also file your objection with the Clerk of the Court of the United States District Court for the Northern District of Texas, Fort Worth Division, no later than June 20, 2016.  The Clerk of the Court’s address is:

Clerk of the Court

United States District Court for the Northern District of Texas

Fort Worth Division

501 W. 10th Street, Room 310

Fort Worth, TX  76102-3673

14. MAY I SPEAK AT THE FAIRNESS HEARING REGARDING THE SETTLEMENT?

Answer:

The Court will hold the Fairness Hearing at 10:00 a.m. on July 18, 2016, at the United States District Court for the Northern District of Texas, Forth Worth Division, Potter Stewart United States Courthouse, 501 W.10th Street, Fort Worth, Texas, 76102-3673, Room 310, or the Courtroom then occupied by Judge O’Connor.  The Court may adjourn the Fairness Hearing without further notice to the Settlement Class, so, if you wish to attend, you should confirm the date and time of the Fairness Hearing with Class Counsel before doing so.  At the Fairness Hearing, the Court will consider whether the Settlement is fair, reasonable,and adequate.  If there are objections,the Court will consider them.  The Court will also rule on the application for attorneys’ fees and reimbursement of expenses and for Case Contribution Awards to the Named Plaintiffs.  We do not know how long these decisions will take or whether appeals will be taken.

If you are a Settlement Class member, you may ask the Court for permission to speak at the Fairness Hearing.  To do so, you must send a letter or other paper called a “Notice of Intention to Appear at Fairness Hearing in “In re 2014 RadioShack ERISA Litigation,Master File No. 4:14-cv-009590O, Fairness Hearing.”  Be sure to include your name, address,telephone number, and your signature. Your Notice of Intention to Appear must be filed with the Clerk of the Court no later than June 20, 2016 at the address listed in the answer to Question No. 13, and must be served on the attorneys listed on page 8 of the Class Notice.  Additionally, any attorney hired for purposes of representing a Settlement Class Member making an objection to the Settlement must file a Notice of Appearance with the Court no later than 5:00 p.m. on June 20, 2016, and also serve the Notice of Appearance on the attorneys listed in the answer to Question No. 13 above so that it is actually received by them no later than June 20, 2016 as well.

15. HOW DO I RECEIVE A COPY OF THE SETTLEMENT NOTICE?

Answer:

Copies of the Notice of Class Action Settlement were mailed to the last known address of all members of the Settlement Class who were participants in the Plan(s)during the Settlement Class Period.  If you would like to review the Notice, please click on the link for the Notice on this website.  To request that a Notice be mailed to you, call toll-free, 877-522-0442.

16. WHAT IF I HAVE ADDITIONAL QUESTIONS?

Answer:

If you have additional questions regarding this case, please send an email to:  RSHtrusteesettlement.com@ktmc.com. The email will go to Class Counsel and will be directed to the individuals handling the Settlement. Class Counsel has also set up a toll free number, 877-522-0442, if you prefer to call with your questions.

17. WHEN CAN I EXPECT TO RECEIVE MY PAYMENT?

Answer:

Payment is conditioned on several things, including the Court’s approval of the Settlement and that approval becoming a “Final” Order and no longer subject to any appeals. Depending on the Court’s process, distribution could take many months or more than a year; please be patient.

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