Announcing Summary Notice of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys' Fees and Expenses in the In re Celestica Inc. Securities Litigation

NEW YORK, June 1, 2015 /PRNewswire/ -- The following statement is being issued by Lead Counsel Labaton Sucharow LLP regarding the In re Celestica Inc. Securities Litigation.

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

IN RE CELESTICA INC. SEC. LITIG.

Civil Action No.:  07-CV-00312-GBD

TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR ACQUIRED THE COMMON STOCK OF CELESTICA INC. ("CELESTICA") ON A UNITED STATES STOCK EXCHANGE DURING THE PERIOD BETWEEN JANUARY 27, 2005 AND JANUARY 30, 2007, INCLUSIVE (THE "CLASS PERIOD"), AND WERE DAMAGED THEREBY (THE "CLASS")

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that New Orleans Employees' Retirement System and Drywall Acoustic Lathing and Insulation Local 675 Pension Fund (collectively, "Class Representatives"), on behalf of themselves, Lead Plaintiffs, and the Class, on the one hand, and Celestica, Stephen W. Delaney, and Anthony P. Puppi (collectively, "Defendants"), on the other hand, have reached a proposed Settlement in the above-captioned action (the "Action") in the amount of $30,000,000 in cash (the "Settlement Amount") that, if approved, will resolve all claims in the Action.

A hearing will be held before the Honorable George B. Daniels of the United States District Court for the Southern District of New York in the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007-1312 at 10:00 a.m. on July 28, 2015 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 April 17, 2015; (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 Class Counsel for an award of attorneys' fees and payment of litigation expenses should be approved.  The Court may change the date of the 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 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:

In re Celestica Inc. Securities Litigation
c/o GCG
P.O. Box 10180
Dublin, OH 43017-3180
(888) 345-0866
www.celesticasecuritieslitigation.com 
[email protected]

Inquiries, other than requests for the aforementioned documents or for information about the status of a claim, may also be made to Class Counsel:

LABATON SUCHAROW LLP
Thomas A. Dubbs, Esq.
James W. Johnson, Esq.
140 Broadway
New York, NY 10005
(888) 219-6877
www.labaton.com 
[email protected]

If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked or received no later than September 17, 2015.  If you are a 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 Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than July 7, 2015.  If you are a Class Member and do not exclude yourself from the 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 mailed to counsel for the Parties in accordance with the instructions set forth in the Notice, such that they are received no later than July 7, 2015 and filed with the Court no later than July 7, 2015. 

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 CLASS COUNSEL AT THE ADDRESS LISTED ABOVE. 

DATED: June 1, 2015

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SOURCE Labaton Sucharow LLP