Labaton Sucharow LLP Issues Summary Notice of Pendency and Proposed Settlement and Motion for Attorneys' Fees and Expenses in the Coinstar, Inc. Securities Litigation

NEW YORK, May 4, 2012 /PRNewswire/ -- The following statement is being issued by Labaton Sucharow LLP regarding the In re Coinstar, Inc. Securities Litigation.

UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON AT SEATTLE

IN RE COINSTAR INC. SECURITIES LITIGATION             Case No. C11-133 MJP
This Document Relates To:
The Securities Class Action

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

TO: ALL PERSONS OR ENTITIES WHO PURCHASED THE COMMON STOCK OF COINSTAR, INC. DURING THE PERIOD FROM OCTOBER 29, 2010 TO FEBRUARY 3, 2011, INCLUSIVE, AND WHO WERE ALLEGEDLY 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 the above-captioned action has been preliminarily certified as a class action and that a settlement for Six Million Dollars ($6,000,000) has been proposed with Coinstar, Inc., Paul Davis and J. Scott Di Valerio (collectively, "Defendants").  A hearing will be held before the Honorable Marsha J. Pechman of the United States District Court for the Western District of Washington in the U.S. Courthouse, 700 Stewart Street, Seattle, WA 98101, at 9:00 a.m., on August 10, 2012, in Courtroom 14206 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 net settlement proceeds should be approved as fair and reasonable, and to consider the application of Lead Counsel for attorneys' fees and reimbursement of expenses.  The Court may change the date of the hearing without providing another notice. 

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT PROCEEDS.  If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys' Fees and Expenses ("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 Coinstar, Inc. Securities Litigation
c/o The Garden City Group, Inc.
Claims Administrator
PO Box 9869
Dublin, OH  43017-5769
1-855-733-8309
www.gcginc.com

The Claims Administrator can also help you if you have questions about these documents. Inquiries, other than requests for the forms of Notice and Proof of Claim or the status of a claim, may be made to Lead Counsel:

Labaton Sucharow LLP
Jonathan Gardner
140 Broadway
New York, New York 10005
1-888-219-6877
www.labaton.com or [email protected]

If you are a Class Member, to be eligible to share in the distribution of the settlement proceeds you must submit a Proof of Claim postmarked or received no later than August 21, 2012.  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 20, 2012.  If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Final Order and Judgment of the Court.  Any objections to the Settlement, Plan of Allocation or Lead Counsel's application for attorneys' fees and reimbursement of expenses must be filed with the Court and served on counsel for the Parties in accordance with the instructions set forth in the Notice, such that they are received no later than July 20, 2012.  If you are a Class Member and do not submit an acceptable Proof of Claim, you will not share in the Settlement but you nevertheless will be bound by the Final Order and Judgment of the Court.

Further information may be obtained by contacting the Claims Administrator.

Dated: May 4, 2012

By Order of The Court
United States District Court
Western District of Washington

SOURCE Labaton Sucharow LLP