Notices and claim forms are being sent to about 200,000 former Elan investors, but just because you receive a notice does not mean you have a valid claim, as brokerage firms provide names and addresses for anyone who traded Elan during the two year period covered by our case. To have a qualified claim, you must have traded in the opposite direction of SAC on or within five trading days of SAC's trades, which were BUYS in the mid-2006 to mid-2008 period (so claimants needed to have SOLD), or SAC's SALES during the seven trading days prior to ICAD 2008 (so you had to have BOUGHT during those days). For those who did not trade on specific days tied to SAC's trading, U.S. securities laws do not provide any remedy.
If you have questions about your specific trading after carefully reading all of the paperwork (go to
http://sac-elan.com/), call or email the claims administrator. You can file online, so the number of pages of trades is not a limitation. If you want to file by mail, the claim form can be printed out, and has instructions for attaching additional pages. I cannot provide guidance for every potential claimant; that is what we are paying the claims administrator to do, so please contact them. I can respond to general questions that will be useful for those who are reading IV.