SAN FRANCISCO--(BUSINESS WIRE)--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Oclaro, Inc. Derivative Litigation:
| CURTIS AND CHARLOTTE WESTLEY, | No. C11-02448-EMC | ||
| Individually and on Behalf of All Others Similarly | and related consolidated action | ||
| Situated, | (Lead Case No. C11-3176-EMC) | ||
| Plaintiffs, | (Derivative Action) | ||
| vs. | |||
| OCLARO, INC., et al., | |||
| Defendants. | |||
| Lead Case No. C11-3176-EMC | |||
| In re OCLARO, INC. DERIVATIVE LITIGATION | (Derivative Action) | ||
| This Document Relates To: | |||
| Westley v. Oclaro, Inc., et al., | |||
| C11-02448-EMC. | SUMMARY NOTICE |
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR ACQUIRED OCLARO, INC. (“OCLARO”) COMMON STOCK BETWEEN MAY 6, 2010 AND OCTOBER 28, 2010, INCLUSIVE
YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Northern District of California, a hearing will be held on July 31, 2014, at 1:30 p.m., before the Honorable Edward M. Chen, United States District Judge, 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 Litigation for the sum of $3,700,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, thereafter, this Litigation should be dismissed with prejudice against the Defendants as set forth in the Amended Stipulation of Settlement dated as of April 30, 2014 (“Stipulation”)*; (3) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (4) the reasonableness of the application of Lead Counsel for an award of attorneys’ fees and expenses incurred in connection with this Litigation, together with interest thereon.
If you purchased or acquired Oclaro common stock between May 6, 2010 and October 28, 2010, inclusive, your rights may be affected by this Litigation and the settlement thereof. If you have not received a detailed Notice of Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Oclaro Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040, by calling the Claims Administrator at 1-877-291-5532, or by downloading this information at www.oclarosettlement.com. 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 form postmarked no later than August 13, 2014, establishing that you are entitled to a recovery. You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, to the above address, postmarked by July 7, 2014.
Any objection to any aspect of the settlement must be filed with the Clerk of the Court no later than July 7, 2014, at the following address:
| Clerk of the Court | ||
| United States District Court | ||
| Northern District of California | ||
| 450 Golden Gate Avenue | ||
| San Francisco, CA 94102 | ||
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
DATED: May 5, 2014
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN
DISTRICT OF CALIFORNIA
* All capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Stipulation. The Stipulation can be downloaded at www.oclarosettlement.com.