NEW YORK, April 1, 2016 /PRNewswire/ -- The following statement is being issued by Labaton Sucharow LLP regarding the In re Vocera Communications, Inc., Securities Litigation.
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
IN RE VOCERA COMMUNICATIONS, INC., SECURITIES LITIGATION
This Document Relates to: All Actions.
MASTER FILE NO. 3:13-cv-03567 EMC
TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR ACQUIRED THE PUBLICLY TRADED SECURITIES OF VOCERA COMMUNICATIONS, INC. BETWEEN MARCH 28, 2012 AND MAY 2, 2013, INCLUSIVE, (THE "CLASS PERIOD"), AND WERE ALLEGEDLY DAMAGED THEREBY.
You may be entitled to receive money from a class action settlement. The average recovery in the settlement per allegedly damaged share is estimated to be approximately $0.64 per share, before the deduction of any Court-approved fees and expenses, and approximately $0.44 per allegedly damaged share, after the deduction of the attorneys' fees and litigation expenses.
YOU ARE HEREBY NOTIFIED, 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 Arkansas Teacher Retirement System and Baltimore County Employees' Retirement System (collectively, "Lead Plaintiffs"), on behalf of themselves and the Settlement Class, and Vocera Communications, Inc. ("Vocera"), Robert J. Zollars, Brent D. Lang, and William R. Zerella (collectively, the "Individual Defendants" and, with Vocera, the "Defendants") have reached a proposed settlement in the above-captioned action (the "Action") in the amount of $9,000,000 in cash (the "Settlement Amount") that, if approved, will resolve all claims in the Action (the "Settlement").
A hearing will be held before the Honorable Edward M. Chen of the United States District Court for the Northern District of California in Courtroom 5, 17th Floor of the San Francisco Courthouse, 450 Golden Gate Avenue, San Francisco, CA 94102 at 1:30 p.m. on June 23, 2016 to, among other things, determine whether: (1) the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (2) this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated January 14, 2016; (3) the proposed Plan of Allocation for distribution of the Settlement Amount, and any interest thereon, less Court-awarded attorneys' fees, Notice and Administration Expenses, Taxes, and any other costs, fees, or expenses approved by the Court (the "Net Settlement Fund") should be approved as fair and reasonable; and (4) the application of Lead Counsel for an award of attorneys' fees and payment of litigation expenses should be approved. The Court may change the date of the Settlement Hearing without providing another notice. You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND. If you have not yet received the full Notice of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys' Fees and Expenses (the "Notice") and a Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator or visiting its website:
Inquiries may also be made to Lead Counsel:
If you are a Settlement Class Member, and wish to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked or received on or before July 18, 2016, establishing that you are entitled to participate in any recovery. If you are a Settlement Class Member and do not timely submit a valid Proof of Claim, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
To exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received on or before June 2, 2016. If you are a Settlement Class Member and do not exclude yourself from the Settlement Class, you will be bound by any judgments or orders entered by the Court in the Action.
Any objections to the proposed Settlement, Plan of Allocation, and/or application for attorneys' fees and payment of expenses must be filed with the Court in accordance with the instructions set forth in the Notice on or before June 2, 2016. If you object, but also want to be eligible for a payment from the Settlement, you must still submit a Proof of Claim or you will not receive a payment from the Settlement.
PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE. ALL QUESTIONS ABOUT THIS NOTICE, THE PROPOSED SETTLEMENT, OR YOUR ELIGIBILITY TO PARTICIPATE IN THE SETTLEMENT SHOULD BE DIRECTED TO LEAD COUNSEL AT THE ADDRESS LISTED ABOVE.
Dated: April 1, 2016
BY ORDER OF THE UNITED STATES DISTRICT COURT
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SOURCE Labaton Sucharow LLP