Finkelstein Thompson LLP Announces Pendency of Class Action Against UTStarcom, et al. and Proposed Settlement
NEW YORK, July 17 /PRNewswire/ -- Plaintiff's Lead Counsel has announced, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of California, that a hearing will be held at 9:00 a.m. on September 18, 2009 at the United States District Court for the Northern District of California, 450 Golden Gate Avenue, San Francisco, CA 94102, for the purpose of determining (1) whether the proposed Settlement of the claims in the Litigation for the sum of $9,500,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) whether, thereafter, this Litigation should be dismissed with prejudice as against the Defendants and a judgment entered releasing all Released Claims against Defendants and each of their respective Related Parties as set forth in the Stipulation of Settlement dated as of May 14, 2009; (3) whether the Plan of Allocation is fair, reasonable and adequate and therefore should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and reimbursement of expenses incurred in connection with prosecuting this Litigation against the Defendants should be approved.
IF YOU ARE A PERSON WHO PURCHASED UTSTARCOM, INC. ('UTSI') COMMON STOCK DURING THE PERIOD
If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain a copy by contacting the Claims Administrator by mail at UTStarcom Securities Litigation, c/o Berdon Claims Administration LLC, P.O. Box 9014,
If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release postmarked no later than
Any objection to the Settlement must be mailed or delivered such that it is received by each of the following no later than
Clerk of the Court United States District Court Northern District of California 450 Golden Gate Avenue San Francisco, CA 94102 Donald J. Enright, Esq. Terry T. Johnson, Esq. FINKELSTEIN THOMPSON LLP WILSON SONSINI GOODRICH & ROSATI 10530 30th Street, N.W. 650 Page Mill Road Washington, DC 20007 Palo Alto, CA 94304-1050 Plaintiff's Lead Counsel Defense Counsel
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.
SOURCE Finkelstein Thompson LLP