Abraham, Fruchter & Twersky, LLP Announce Proposed Settlement Hearing in Internap Network Services, Corp. Securities Litigation

NEW YORK, Sept. 10, 2013 /PRNewswire/ -- The following statement is being issued by Abraham, Fruchter & Twersky, LLP regarding the Internap Network Services, Corp. Securities Litigation.

IN THE UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF GEORGIA
ATLANTA DIVISION

CATHERINE ANASTASIO, STEPHEN ANASTASIO, CURTIS WHITAKER, PATRICIA ESPADA and FRED MATISE, Individually and On Behalf of All Others Similarly Situated, Plaintiffs, vs. INTERNAP NETWORK SERVICES CORP., JAMES P. DEBLASIO and DAVID A. BUCKEL, Defendants.  CIVIL ACTION NO. 1:08-CV-3462-JOF

SUMMARY NOTICE

TO:  ALL PERSONS OR ENTITIES WHO PURCHASED INTERNAP NETWORK SERVICES, CORP. COMMON STOCK BETWEEN MAY 3, 2007 AND AUGUST 5, 2008, INCLUSIVE

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 Georgia: (1) that the above-captioned litigation (the "Litigation") has been certified as a class action on behalf of all persons or entities who purchased common stock in Internap Network Services, Corp. ("Internap"), from May 3, 2007 through August 5, 2008, inclusive (the "Class"), except for certain persons and entities who are excluded from the Class by definition as set forth in the Stipulation of Settlement of the Litigation; and (2) that Lead Plaintiffs in the Litigation have reached a proposed settlement with the Defendants for $9.5 million in cash, plus interest thereon if the Settlement is approved by the Court (the "Settlement").

YOU ARE FURTHER HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Georgia, that a hearing will be held on December 4, 2013, at 10:30 a.m., before the Honorable J. Owen Forrester at the Richard B. Russell Federal Building and Courthouse, 75 Spring Street, SW, Atlanta, Georgia, for the purpose of determining: (1) whether the proposed Settlement of the claims in the Litigation for the principal sum of $9,500,000 in cash, plus accrued interest, should be approved by the Court as fair, reasonable, and adequate; (2) whether, thereafter, the Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement, dated August 5, 2013 ("Stipulation"); (3) whether the Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; and (4) whether the application of Plaintiffs' counsel for the payment of attorneys' fees and expenses incurred in connection with the Litigation, and reimbursement awards to Class Representatives, should be approved.

If you purchased Internap common stock from May 3, 2007 through August 5, 2008, inclusive, and were damaged thereby, your rights may be affected by the Settlement of the Litigation.  If you have not received a detailed Notice of Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form ("Proof of Claim"), you may obtain copies by writing to Internap Securities Litigation, Claims Administrator, c/o Heffler Claims Group, P.O. Box 58548, Philadelphia, PA 19102-8548, or on the internet by going to www.InternapSettlement.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 postmarked no later than December 4, 2013, establishing that you are entitled to recovery.

If you desire to be excluded from the Class, you must submit a request for exclusion postmarked by November 9, 2013, 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 Litigation pursuant to the terms and conditions of the Stipulation.

Any objection to the Settlement must be mailed or delivered, in the manner and form explained in the detailed Notice referred to above, such that it is received by each of the following no later than November 9, 2013:

Court:
Clerk of the Court
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF GEORGIA
Richard B. Russell Federal Building and Courthouse
75 Spring Street, SW
Atlanta, GA 30303

Lead Counsel for Plaintiffs:
Jeffrey S. Abraham
Lawrence D. Levit
ABRAHAM, FRUCHTER & TWERSKY, LLP
One Penn Plaza, Suite 2805
New York, NY 10119

Counsel for Defendants:
John L. Latham
ALSTON & BIRD LLP
One Atlantic Center
1201 West Peachtree Street
Atlanta, GA 30309

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact counsel for the Plaintiffs at the address listed above or go to the following website: www.InternapSettlement.com.

DATED: September 10, 2013

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF GEORGIA

SOURCE Abraham, Fruchter & Twersky, LLP