Law Offices Bernard M. Gross, P.C. Announces Class Action Settlement on Behalf of Purchasers of Common Stock of NextWave Wireless Inc.

SAN DIEGO, Aug. 16, 2012 /PRNewswire/ -- Law Offices Bernard M. Gross, P.C. announces that the United States District Court Southern District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of NextWave Wireless, Inc. (PINK: WAVE):

SANDRA LIFSCHITZ, on behalf of herself and all others similarly situated, Plaintiff, v. NEXTWAVE WIRELESS INC., ALLEN SALMASI, GEORGE C. ALEX and FRANK A. CASSOU, Defendants.

ALEX BENJAMIN, Individually and on behalf of all others similarly situated, Plaintiff, v. NEXTWAVE WIRELESS INC., ALLEN SALMASI, GEORGE C. ALEX and FRANK A. CASSOU, Defendants.

CASE NO. 08cv1697-AJB(WMc) (consol. w/ 3:08-CV-01934 AJB (WMc))

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT AND SETTLEMENT HEARING

TO:  ALL PURCHASERS OF NEXTWAVE WIRELESS, INC. ("NEXTWAVE") COMMON STOCK BETWEEN NOVEMBER 14, 2006 AND AUGUST 7, 2008, INCLUSIVE (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 (the "Action") has been conditionally certified as a class action and that a settlement for $1,400,000 has been proposed.  A hearing will be held before the Honorable Anthony J. Battaglia, United States District Judge on November 9, 2012 at 1:30 p.m. in Courtroom 12 of the United States Courthouse, 940 Front Street, San Diego, California 92101, to determine whether:

1. The Class should be finally certified for settlement purposes;
2. The proposed settlement of the Action for $1,400,000, plus interest, is fair, reasonable and adequate and should be approved by the Court;
3. An Order and Final Judgment should be entered dismissing all claims in the Action against the Defendants and dismissing the Action with prejudice, and without costs;
4. The Plan of Distribution of the Net Settlement Fund should be approved; and
5. To award attorneys' fees and expenses requested by Lead Counsel on behalf of Plaintiffs' Counsel.

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 FUND.  You may obtain copies of the Notice of Pendency and Proposed Settlement of Class Action, Settlement Hearing and Application For Attorneys' Fees (the "Notice") and a Proof of Claim form, by either contacting the Claims Administrator at 1-866-274-4004, or by accessing the website at www.nextwavelitigationsettlement.com on the Internet.

To participate in the settlement, you must submit a Proof of Claim no later than December 10, 2012 to the Claims Administrator at NextWave Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 3, Media, PA 19063.  If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Order and Final Judgment of the Court.  To exclude yourself from the Class, you must submit a Request for Exclusion in the manner detailed in the Notice postmarked no later than October 19, 2012.  If you are a Class Member and do not submit a proper Proof of Claim, you will not share in the settlement but you nevertheless will be bound by the Order and Final Judgment of the Court.  To object to the proposed Settlement, Plan of Distribution, or award of attorneys' fees and reimbursement of expenses, you must submit a written objection in the manner detailed in the Notice to the Court, Lead Counsel, and Defendants' Counsel no later than October 19, 2012.

Further information about the settlement may be obtained by contacting Strategic Claims Services, the Claims Administrator, toll-free at 1-866-274-4004, via e-mail at [email protected], or by visiting the website at www.nextwavelitigationsettlement.com. 

Inquiries, other than requests for the Notice and Proof of Claim form, may be made to Plaintiffs' Lead Counsel: Deborah R. Gross, Esquire, Law Offices Bernard M. Gross, P.C., 100 Penn Square East, Suite 450, Philadelphia, Pennsylvania 19107, Telephone (215) 561-3600 or E-mail [email protected].

DATED: JULY 25, 2012

By Order of the Court

SOURCE Strategic Claims Services