Summary Notice of Pendency and Proposed Settlement of Class Action

Mar 06, 2007, 00:00 ET from Schiffrin Barroway Topaz & Kessler, LLP

    WILMINGTON, Del., March 6 /PRNewswire/ -- The following statement is
 being issued by the parties listed below regarding the Astropower, Inc.
 Securities Litigation.
                          UNITED STATES DISTRICT COURT
                              DISTRICT OF DELAWARE
 
     IN RE ASTROPOWER, INC.
     SECURITIES LITIGATION                        Civil Action No. 03-CV-260
 
 
                         SUMMARY NOTICE OF PENDENCY AND
                      PROPOSED SETTLEMENT OF CLASS ACTION
 
     TO:  ALL PERSONS WHO PURCHASED THE COMMON STOCK OF ASTROPOWER BETWEEN MAY
          7, 2001 AND APRIL 1, 2003, INCLUSIVE AND WHO WERE DAMAGED THEREBY
          (THE "CLASS").
     YOU ARE HEREBY NOTIFIED that the above-captioned action has been
 certified as a class action for certain purposes and that a settlement for
 One Million Dollars ($1,000,000) has been proposed. A hearing will be held
 before the Honorable Joseph Farnan in the United States District Court for
 the District of Delaware, J. Caleb Boggs Fed. Bldg., 844 N. King Street,
 Wilmington, DE 19801, at 10:00 a.m., on May 9, 2007 to determine whether:
 (1) the proposed settlement should be approved by the Court as fair,
 reasonable and adequate; (2) Lead Counsel's application for an award of
 attorneys' fees and reimbursement of expenses should be approved; and (3)
 the claims against Defendants and Astropower should be dismissed with
 prejudice.
     IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE
 AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you
 have not yet received the full printed Notice Proposed Settlement of Class
 Action, Motion for Attorneys' Fees and Reimbursement of Expenses and
 Settlement Fairness Hearing (the "Notice") Proof of Claim and Release form
 ("Proof of Claim") you may obtain copies of these documents by contacting:
                     Astropower, Inc. Securities Litigation
                        c/o The Garden City Group, Inc.
                              Claims Administrator
                                 P.O. Box #9111
                             Dublin, OH  43017-4111
     Inquiries, other than requests for the forms of Notice and Proof of
 Claim, may be made to Lead Counsel:
     Michael K. Yarnoff
     Kay E. Sickles
     Schiffrin Barroway Topaz & Kessler, LLP
     280 King of Prussia Road
     Radnor, PA 19087
     To participate in the Settlement, you must submit a Proof of Claim no
 later than June 26, 2007. As more fully described in the Notice, the
 deadline for submitting objections and requests for exclusions is April 17,
 2007.
     Further information may also be obtained by directing your inquiry in
 writing to the Claims Administrator, The Garden City Group, Inc. at the
 address listed above.
                                               By Order of The Court
 
 

SOURCE Schiffrin Barroway Topaz & Kessler, LLP