Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of the Force Protection, Inc. Securities Litigation

31 Mar, 2015, 11:00 ET from Robbins Gellar Rudman & Dowd LLP

LAS VEGAS, March 31, 2015 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Force Protection, Inc. Securities Litigation:

In re FORCE PROTECTION, INC.
SHAREHOLDER LITIGATION

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Case No. A-11-651336-C

Dept No. XXVII

(Electronic Filing Case)

This Document Relates To:

         ALL ACTIONS.

SUMMARY NOTICE

IF YOU HELD SHARES OF COMMON STOCK IN FORCE PROTECTION, INC. ("FORCE PROTECTION") AT ANY TIME FROM AND INCLUDING NOVEMBER 6, 2011 THROUGH AND INCLUDING DECEMBER 19, 2011 (THE "CLASS PERIOD"), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF A CLASS ACTION.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Eighth Judicial District Court for Clark County, Nevada, that a hearing will be held on June 10, 2015, at 9:00 a.m., in Courtroom 3A of the District Court for Clark County, Nevada, 200 Lewis Avenue, Las Vegas, Nevada, for the purpose of determining: (1) whether the proposed Settlement of the claims in the Action for the sum of $11,000,000.00 in cash plus accrued interest should be approved by the Court as fair, reasonable, and adequate; (2) whether the Court should enter a final judgment in the Action on the merits against the named Plaintiffs and the Class as set forth in the Stipulation of Settlement dated January 6, 2015 ("Stipulation"); (3) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (4) whether the application of Plaintiffs' Counsel for an award of attorneys' fees and expenses incurred in connection with this litigation and awards to the Plaintiffs for their service to the Class should be approved.

If you held Force Protection common stock at any time from and including November 6, 2011 through and including December 19, 2011, your rights may be affected by the settlement of this Action.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Force Protection Shareholder Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 990, Corte Madera, CA 94976-0990, or you can download a copy at www.forceprotectionsecuritieslitigation.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Amount, you must submit a Proof of Claim and Release form by mail or online no later than June 29, 2015, establishing that you are entitled to recovery.  You will be bound by any judgment rendered in the Action whether or not you make a claim.

If you held Force Protection common stock at any time from and including November 6, 2011 through and including December 19, 2011, and you desire to be excluded from the Class, you must submit a request for exclusion so that it is received no later than May 20, 2015, in the manner and form explained in the detailed Notice referred to above.  All members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Action pursuant to the Stipulation.

Any objection to the Settlement, the Plan of Allocation, or Lead Counsel's request for an award of attorneys' fees and expenses must be filed with the Court at the address below and served by hand or first class mail on counsel listed below such that it is received no later than May 27, 2015.

The Court:

Clerk of the Court
        DISTRICT COURT FOR
                CLARK COUNTY, NEVADA
   200 Lewis Avenue
         Las Vegas, NV  89155

Plaintiffs' Counsel:

ROBBINS GELLER RUDMAN

   & DOWD LLP

Ellen Gusikoff Stewart

655 West Broadway, Suite 1900

San Diego, CA  92101

LEVI & KORSINSKY LLP

Shannon Hopkins

30 Broad Street, 24th Floor

New York, NY  10004

FARUQI & FARUQI LLP

Juan E. Monteverde

369 Lexington Avenue, 10th Floor

New York, NY  10017

Defendant's Counsel:

               KING & SPALDING LLP
         M. Robert Thornton
Benjamin Lee
                     1180 Peachtree Street N.E.
         Atlanta, GA  30309

KAEMPFER CROWELL
Peter C. Bernhard
8345 West Sunset Road, Suite 250
Las Vegas, NV  89113





If you held Force Protection common stock at any time from and including November 6, 2011 through and including December 19, 2011 and you do not take the required steps to appear in this Action, object to the proposed Settlement, or exclude yourself from the Class, and the Settlement is approved, you will be barred from raising an objection to the Settlement in this or any other action or proceeding, bound by the Settlement and the Court's judgment, and certain claims that you might have released.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

DATED: March 17, 2015

BY ORDER OF THE COURT
CLARK COUNTY DISTRICT COURT
STATE OF NEVADA

 

SOURCE Robbins Gellar Rudman & Dowd LLP