Gardy & Notis, LLP And Milberg LLP Announce The Proposed Settlement Of A Securities Class Action Lawsuit Involving Opnext, Inc. Common Stock Purchased Or Otherwise Acquired Between February 14, 2007 And February 13, 2008, Inclusive

Gardy & Notis, LLP And Milberg LLP Announce The Proposed Settlement Of A Securities Class Action Lawsuit Involving Opnext, Inc. Common Stock Purchased Or Otherwise Acquired Between February 14, 2007 And February 13, 2008, Inclusive - 10/30/2009

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Gardy & Notis, LLP And Milberg LLP Announce The Proposed Settlement Of A Securities Class Action Lawsuit Involving Opnext, Inc. Common Stock Purchased Or Otherwise Acquired Between February 14, 2007 And February 13, 2008, Inclusive
Staff Writer

Business Wire. October 30, 2009
_________________________________________________________________________

EXCERPT: In the United States District Court for the District of New Jersey, in In re Opnext, Inc. Securities Litigation, Case No. 08-CV-920-JAP-LHG, a summary notice has been issued as follows: Summary Notice of Pendency of Class Action, Proposed Settlement and Settlement Hearing [ ; ] To: all persons who purchased or otherwise acquired the common stock of Opnext, Inc. (“Opnext”) pursuant or traceable to Opnext’s February 14, 2007 Initial Public Offering during the time period between February 14, 2007 and February 13, 2008, inclusive (the “Class”). You Are Hereby Notified, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the above-captioned action has been certified as a class action and that a settlement for $2,000,000 has been proposed. A hearing will be held before the Honorable Joel A. Pisano at the United States District Court for the District of New Jersey, Clarkson S. Fisher Building & U.S. Courthouse and Post Office Building, 402 East State Street, Trenton, New Jersey 08608, at 10:00 a.m., on January 6, 2010 to determine whether the proposed settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the application of Plaintiffs’ Counsel for attorneys’ fees and reimbursement of expenses. […] To be eligible to participate in the Settlement, you must submit a Proof of Claim no later than February 5, 2010. If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Order and Final Judgment of the Court. To exclude yourself from the Class, you must submit a request for exclusion postmarked no later than December 22, 2009. Any objections to the Settlement must be filed by December 22, 2009.

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