Stone Bonner & Rocco Announces Winstar Communications Securities Litigation
NEW YORK, Aug. 22, 2013 /PRNewswire/ --
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
IN RE WINSTAR COMMUNICATIONS SECURITIES LITIGATION
Master File No.01 Civ. 3014 (GBD)
This Document Relates To: All Actions
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT, SETTLEMENT HEARING, AND MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: ALL PERSONS AND ENTITIES THAT DURING THE PERIOD FROM MARCH 10, 2000 THROUGH AND INCLUDING APRIL 2, 2001 (THE "CLASS PERIOD") PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK, BONDS, OR OTHER SECURITIES PUBLICLY ISSUED BY WINSTAR COMMUNICATIONS, INC. ("WINSTAR" AND THE "CLASS").
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 Southern District of New York (the "Court"), that the above-captioned action (the "Action") has been certified as a class action and that a settlement for $10,000,000.00 in cash or other immediately available funds has been proposed. A hearing will be held at 9:30 a.m., on November 13, 2013, before the Honorable George B. Daniels, at the United States District Court for the Southern District of New York, Courtroom 11A, 500 Pearl Street, New York, New York 10007, to determine whether: the proposed settlement of the Action and the proposed plan for distributing the proceeds of the settlement should be approved by the Court as fair, reasonable, and adequate; the Action should be dismissed with prejudice against Grant Thornton LLP; and the application of the plaintiffs' counsel for awards of attorneys' fees, costs, and expenses should be approved.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED. CLASS MEMBERS MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement, Settlement Hearing, and Motion for Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice") and a Proof of Claim and Release form, you may obtain copies of these documents by identifying yourself as a member of the Class and requesting those documents from: Claims Administrator, In re Winstar Communications Securities Litigation, P.O. Box 5100, Larkspur, CA 94977-5100 (www.gilardi.com). Inquiries regarding the Action, other than requests for the Notice and Proof of Claim and Release form, may be made to Lead Counsel for the Class: Patrick L. Rocco, Esq., Stone Bonner & Rocco LLP, 447 Springfield Ave., 2nd Floor, Summit, NJ 07901.
To participate in this settlement, Class members must file a Proof of Claim and Release no later than December 12, 2013. To exclude yourself from the Class, you must submit a request for exclusion that is received no later than October 23, 2013. IF YOU ARE A MEMBER OF THE CLASS AND DO NOT EXCLUDE YOURSELF AND DO NOT FILE A PROPER PROOF OF CLAIM, YOU WILL NOT SHARE IN THE SETTLEMENT, BUT YOU WILL BE BOUND BY THE FINAL ORDER AND JUDGMENT OF THE COURT.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE FOR INFORMATION REGARDING THE SETTLEMENT.
Dated: July 24, 2013 |
By Order of the United States District Court |
for the Southern District of New York |
SOURCE Stone Bonner & Rocco LLP
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