When a U.S. class action over securities fraud is settled, the parties are required to issue a class notice that describes the members of the class and explains how to file claims to recover money from the settlement. There is a deadline for filing claims but such deadlines may be extended by the court. To participate in a settlement, a stockholder’s overall investment in the stock during the class period must have resulted in a loss. Even if an investor sold the stock at issue, she might still participate in the recovery if her overall investment resulted in a loss.