Block & Leviton LLP Announces a Proposed Class Action Settlement in the GlobalSCAPE Securities Litigation

BOSTON, Oct. 29, 2018 /PRNewswire/ --

UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF TEXAS

You are hereby notified that parties to the above-captioned consolidated class action (the "Action") pending in the United States District Court for the Western District of Texas (the "Court") have entered into a Stipulation of Agreement and Settlement (the "Stipulation") to resolve the issues raised in the above-captioned consolidated class action (the "Class Action"). The proposed settlement contemplated therein (the "Settlement") includes a settlement payment of $1,400,000 (the "Settlement Amount").

You are hereby further notified, that the Class Action has been preliminarily certified as a class action, and that pursuant to an Order of the Court dated October 2, 2018, a hearing will be held on December 18, 2018 at 10:00 a.m. (the "Settlement Hearing") before Judge Xavier Rodriguez at the United States District Court for the Western District of Texas, 655 E. Cesar E. Chavez Blvd., San Antonio, TX 78206, to, among other things, (1) determine whether the Class as defined above should be certified pursuant to Federal Rule of Civil Procedure 23(b)(3); (2) determine whether the proposed Settlement should be approved as fair, reasonable, adequate, and in the best interests of the class; (3) determine whether all of Irfan Rahman ("Lead Plaintiff")'s claims should be approved as fair, reasonable, adequate, and in the best interests of the class; (4) determine whether the proposed Order and Final Judgment approving the Settlement should be entered; (5) determine whether, and in what amount, an award of attorneys' fees and expenses should be paid to Plaintiffs' counsel (the "Fee Application"); (6) consider any objections to the proposed Settlement or Fee Application; and (7) rule on such other matters as the Court may deem necessary and appropriate.

If you are a member of the class described above and are not otherwise excluded, your rights will be affected and you may be entitled to share in the Settlement Amount if you submit a Proof of Claim and Release Form ("Proof of Claim") no later than February 16, 2019, and if the information and documentation you provide in that Proof of Claim establishes that you are entitled to a recovery. You may obtain copies of this notice by visiting www.GlobalSCAPESecuritiesLitigation.com or by contacting:

GlobalSCAPE Securities Litigation Settlement Administration
c/o A.B. Data, Ltd.
P.O. Box 173023
Milwaukee, WI 53217
1-866-963-9979
[email protected]

Inquiries, other than requests for the Notice and Proof of Claim form, may be made to Lead Counsel for Lead Plaintiff and the class:

Jeffrey C. Block
Block & Leviton LLP
155 Federal Street, Suite 400
Boston, MA 02110
(617) 398-5600
[email protected]

This Summary Notice provides only a summary of matters regarding the Action and Settlement. The Notice describing the Action, the proposed Settlement, and the rights of the Class Members to appear in Court at the Settlement Hearing, to request to be excluded from the Class, and/or to object to the Settlement, the plan of allocation and/or the request by Lead Counsel for an award of attorney's fees and expenses, is available through the website or contact information above.

As more fully described in the Notice, to participate in the Settlement Amount, you must submit a valid Proof of Claim by no later than February 16, 2019. As also more fully described in the Notice, the deadline for submitting any objections to the Settlement or the Fee Application, and requests for exclusion from the proposed Settlement is November 27, 2018.

Please do not contact the Court directly.

By Order of The Court

SOURCE Block & Leviton LLP