Brodsky & Smith, LLC Announces Proposed Settlement in the AFOP Shareholder Litigation

SANTA CLARA, Calif., Feb. 25, 2019 /PRNewswire/ -- The following statement is being issued by Brodsky & Smith, LLC regarding the AFOP Shareholder Litigation:

SUPERIOR COURT OF THE STATE OF CALIFORNIA
COUNTY OF SANTA CLARA 

PLEASE READ THIS NOTICE CAREFULLY.  YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED THAT Plaintiffs in the above-captioned stockholder actions (the "Actions") have reached a proposed settlement of that litigation with the Defendants (the "Settlement") that, if approved by the Court, will resolve all claims asserted in the Actions as well as certain other claims (defined in the full printed Notice of Settlement of Class Action (the "Notice")).

YOU ARE ALSO HEREBY NOTIFIED THAT a hearing will be held on April 26, 2019, at 9:00 a.m. at the Superior Court of the State of California, County of Santa Clara, 191 N 1st St., San Jose, CA 95113, to determine inter alia: (a) whether the Settlement should be approved as fair, reasonable, and adequate; (b) Plaintiffs' petition for an Attorneys' Fee Award; and (c) whether the Judgment should be entered.

Be advised that on January 29, 2019, the Superior Court of the State of California, County of Santa Clara ("Santa Clara Court") certified the Settlement Class for purposes of the Settlement, pursuant to section 382 of the California Code of Civil Procedure, as an opt-out class action on behalf of the Settlement Class, except for the Defendants who are excluded from the Settlement Class by definition, as set forth in the Notice.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING ACTIONS AND THE SETTLEMENT.  If you have not yet received the Notice, you may obtain a copy by contacting the Notice Administrator at the address listed below.  Copies of the Notice and other Settlement-related documents can be accessed at the following websites: (i) www.AFOPShareholderLitigation.com, (ii) www.weisslawllp.com, and http://www.brodskysmith.com.

Any Settlement Class Member who does not wish to participate in the Settlement and wishes to be excluded from the Settlement Class must submit a request to be excluded from the Settlement Class ("Opt-Out") to the Notice Administrator listed below in such a manner that they are received by the Notice Administrator postmarked on or before April 12, 2019, in accordance with the instructions set forth in Section X of the Notice.  All Opt-Out requests must be mailed to the Notice Administrator:

AFOP Shareholder Litigation Notice Administrator
c/o KCC Class Action Services
P.O. Box 404002
Louisville, KY 40233-4002

Any Settlement Class Member who duly objects to any aspect of the Settlement, including Plaintiffs' petition for an Attorneys' Fee Award may: (i) submit a written objection, (ii) appear and make an oral objection at the Settlement Hearing, or (iii) both submit a written objection and appear and make an oral objection at the Settlement Hearing.  Any written objection to the proposed Settlement and/or Plaintiffs' petition for an Attorneys' Fee Award must be filed with the Santa Clara Court and served upon Plaintiff's Counsel and counsel for Defendants, such that they are received no later than April 12, 2019, in accordance with the instructions set forth in Section IX of the Notice.

Members of the Settlement Class may attend the Settlement Hearing and make an oral objection without first submitting a written objection or entering an appearance in the Actions; written objections are not a pre-requisite to being heard at the Settlement Hearing.

PLEASE DO NOT CALL OR WRITE THE COURT OR THE OFFICE OF THE CLERK REGARDING THIS NOTICE.  For further information regarding this Settlement, you may contact: Brodsky & Smith, LLC, c/o Evan J. Smith, 9595 Wilshire Blvd., Suite 900, Beverly Hills, CA 90212; Telephone: 1-877-534-2590.

SOURCE Brodsky & Smith, LLC