|  | | 2010 News and Press Releases | | |
SETTLEMENT (LAW FIRM PR) NEWS:
Notice of Proposed Settlement in TyCom Ltd. Securities
Staff Writer
PR Newswire. June 10, 2010
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EXCERPT: […] You Are Hereby Notified, pursuant to an Order of the United States District Court for the District of New Jersey, that a hearing will be held on August 25, 2010, at 1:00 p.m., before The Honorable Garrett E. Brown, Jr., at the Clarkson S. Fisher Building & U.S. Courthouse, 402 East State Street, Courtroom 4E, Trenton, New Jersey, for the purpose of determining (1) whether the proposed settlement of the claims in the Action for the sum of $79,000,000 in cash should be approved by the Court as fair, reasonable and adequate to Members of the Class; (2) whether, thereafter, this Action should be dismissed with prejudice as to the Settling Defendants (who are all Defendants other than L. Dennis Kozlowski and Mark H. Swartz) pursuant to the terms and conditions set forth in the Settlement Agreement dated as of March 26, 2010; (3) whether the proposed plan to distribute the settlement proceeds (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 expenses incurred in connection with this Action and reimbursement of Lead Plaintiff's reasonable costs and expenses (including lost wages) directly related to his representation of the Class should be approved. If you purchased or acquired TyCom common stock between July 26, 2000 and December 17, 2001, your rights may be affected by this Settlement. […] All purchasers of TyCom common stock were given notice of the pendency of this class action pursuant to Court Order dated May 19, 2009, and are Members of the Class certified in this Class Action, other than those purchasers who timely filed requests for exclusion from the Class by October 1, 2009. |
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