Labaton Sucharow Announces Summary Notice of Proposed Settlement of Class Action, Extended Class Period, and Motion For Attorneys' Fees and Expenses

NEW YORK, June 19, 2013 /PRNewswire/ -- The following statement is being issued by Labaton Sucharow LLP regarding the In re Computer Sciences Corporation Litigation.

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF VIRGINIA
Alexandria Division

IN RE COMPUTER SCIENCES CORPORATION
SECURITIES LITIGATION
Civ. A. No. 1:11-cv-610-TSE-IDD

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION, EXTENDED CLASS PERIOD, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

TO: ALL PERSONS OR ENTITIES THAT PURCHASED OR ACQUIRED COMPUTER SCIENCES CORPORATION COMMON STOCK BETWEEN AUGUST 5, 2008 AND DECEMBER 27, 2011, INCLUSIVE (THE "SETTLEMENT CLASS PERIOD"), AND WERE ALLEGEDLY DAMAGED THEREBY ("SETTLEMENT CLASS").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an order of the Court, that the Settlement Class in the above-captioned litigation ("Action") has been preliminarily certified for the purposes of settlement only and that a settlement between the Ontario Teachers' Pension Plan Board ("Class Representative"), on behalf of itself and all members of the proposed Settlement Class, and Computer Sciences Corporation ("CSC"), Michael W. Laphen, and Donald G. DeBuck (together with CSC, the "Defendants"), in the amount of $97,500,000 in cash, has been proposed by the Parties.

A hearing will be held before the Honorable T.S. Ellis, III of the United States District Court for the Eastern District of Virginia in the Albert V. Bryan U.S. Courthouse, 401 Courthouse Square, Courtroom 900, Alexandria, VA 22314 at 2:00 p.m., on September 19, 2013 to, among other things: determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; determine whether, thereafter, this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated as of May 14, 2013; determine whether the proposed Plan of Allocation for distribution of the Net Settlement Fund should be approved as fair and reasonable; and consider the application of Class Counsel for an award of attorneys' fees and payment of expenses.  The Court may change the date of the hearing without providing another notice. 

IF YOU ARE A MEMBER OF THE SETTLEMENT 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 printed Notice of Proposed Settlement of Class Action, Extended Class Period, and Motion for Attorneys' Fees and Expenses (the "Settlement Notice") and a Proof of Claim and Release Form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator:

In re Computer Sciences Corporation Securities Litigation
Claims Administrator
C/O GCG
P.O. Box 9971
Dublin, OH 43017-5971
Phone:  (866) 297-7119
www.cscsecuritieslitigation.com

You may also review the documents filed in the case during business hours at the Office of the Clerk of the United States District Court for the Eastern District of Virginia, at the address listed above.  Inquiries, other than requests for information about the status of a claim, may also be made to Class Counsel:

LABATON SUCHAROW LLP
Joseph A. Fonti, Esq.
140 Broadway
New York, NY 10005
Tel: (888) 219-6877
www.labaton.com 
[email protected]

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked no later than October 8, 2013. 

If you previously submitted a request for exclusion from the Certified Class in connection with the Notice of Pendency of Class Action ("Class Notice") and you wish to remain excluded, no further action is required.  You will not be bound by any judgments or orders entered by the Court and you will not be eligible to share in the Net Settlement Fund.  However, if you previously submitted a request for exclusion from the Certified Class and you want to opt-back into the Settlement Class for the purpose of being eligible to receive a payment from the Settlement, you may do so.  To do so, you must submit a written request to opt-back into the Settlement Class in accordance with the instructions set forth in the Settlement Notice such that it is received no later than August 29, 2013.

Any objections to the proposed Settlement, Plan of Allocation, and/or application for attorneys' fees and payment of expenses must be filed with the Court and served on counsel for the Parties in accordance with the instructions set forth in the Settlement Notice, such that they are received no later than August 29, 2013. 

If you only purchased or acquired CSC common stock during the Class Period (the period between August 5, 2008 and August 9, 2011, inclusive) and you did not previously request exclusion from the Certified Class, you may not exclude yourself from the Settlement Class in connection with the Settlement proceedings.  If you only purchased or acquired CSC common stock during the Extended Class Period (the period between August 10, 2011 and December 27, 2011, inclusive), you may exclude yourself from the Settlement Class.  If you purchased or acquired CSC common stock during both the Class Period and the Extended Class Period, you may seek exclusion of the shares purchased during the Extended Class Period only.

To exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Settlement Notice such that it is received no later than August 29, 2013.  If you are a putative Settlement Class Member and do not exclude yourself from the Settlement Class, you will be bound by the Final Order and Judgment. 

If you are a Settlement Class Member and do not timely submit a valid Proof of Claim, you will not be eligible to share in the Net Settlement Fund, but you nevertheless will be bound by the Final Order and Judgment.

PLEASE DO NOT CONTACT THE COURT OR CSC REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Class Counsel at the address listed above.

SOURCE Labaton Sucharow LLP