Kessler Topaz Meltzer & Check, LLP Announces Proposed Settlement of HP Securities Litigation
RADNOR, Pa., Aug. 27, 2015 /PRNewswire/ -- The following statement is being issued by Kessler Topaz Meltzer & Check, LLP regarding the settlement reached in the In Re HP Securities Litigation, No. 3:12-CV-05980-CRB.
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
SAN FRANCISCO DIVISION
IN RE HP SECURITIES LITIGATION, MASTER FILE NO. 3:12-CV-05980-CRB, CLASS ACTION
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT, SETTLEMENT FAIRNESS HEARING AND MOTION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED COMMON STOCK OF HEWLETT-PACKARD COMPANY ("HP") BETWEEN AUGUST 19, 2011 AND NOVEMBER 20, 2012, INCLUSIVE (THE "SETTLEMENT CLASS"). CERTAIN PERSONS ARE EXCLUDED FROM THE DEFINITION OF THE SETTLEMENT CLASS, AS SET FORTH IN DETAIL IN THE STIPULATION OF SETTLEMENT AND RELEASE.
PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and Order of the United States District Court for the Northern District of California, that the litigation captioned In re HP Securities Litigation, No. 3:12-cv-05980-CRB ("Action") has been preliminarily certified as a class action for the purposes of settlement only and that a settlement has been proposed for $100,000,000 in cash. A hearing will be held in Courtroom 6 – 17th Floor before the Honorable Charles R. Breyer, at the United States District Court for the Northern District of California, San Francisco Courthouse, 450 Golden Gate Avenue, San Francisco, CA 94102 at 10:00 a.m. on November 13, 2015 to, among other things: determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; determine whether the proposed Plan of Allocation for distribution of the settlement proceeds should be approved as fair and reasonable; and consider the application of Lead Counsel for an award of attorneys' fees and reimbursement of expenses.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING ACTION AND THE SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received a copy of the full printed Notice of Pendency of Class Action and Proposed Settlement, Settlement Fairness Hearing and Motion for Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice"), with the enclosed Claim Form, you may obtain a copy of these documents by contacting the Claims Administrator: In re HP Securities Litigation Settlement, c/o GCG, P.O. Box 10224, Dublin, Ohio 43017-5724, (888) 985-9382. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.HPSecuritiesLitigationSettlement.com, or from Lead Counsel's website, www.ktmc.com.
If you are a Settlement Class Member, in order to be eligible to share in the distribution of the net proceeds of the Settlement, you must submit a Claim Form postmarked on or before October 31, 2015. If you are a Settlement Class Member and do not submit a valid Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgment entered by the Court in this Action.
To exclude yourself from the Settlement Class, you must submit a written request for exclusion such that it is received no later than October 14, 2015, in accordance with the instructions set forth in the Notice. If you are a Settlement Class Member and do not exclude yourself from the Settlement Class, you will be bound by the judgment entered by the Court in this Action, including the releases provided for in the judgment, whether or not you submit a Claim Form. If you submit a request for exclusion, you will have no right to recover money pursuant to the Settlement and will have to pursue any claims against the defendants independently. Lead Counsel offers no advice and no opinion on whether you will be able to maintain such claims.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys' fees and reimbursement of expenses, must be submitted to the Class Action Clerk or filed with the Court on or before October 14, 2015, in accordance with the instructions set forth in the Notice.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the Notice or Claim Form, may be made to Lead Counsel:
Eli R. Greenstein, Esq.
KESSLER TOPAZ MELTZER & CHECK, LLP
One Sansome Street, Suite 1850
San Francisco, CA 94104
(415) 400-3000
www.ktmc.com
Andrew L. Zivitz, Esq.
Stacey M. Kaplan, Esq.
KESSLER TOPAZ MELTZER & CHECK, LLP
280 King of Prussia Road
Radnor, PA 19087
(610) 667-7706
www.ktmc.com
By Order of the Court
SOURCE Kessler Topaz Meltzer & Check, LLP
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