Monteverde & Associates PC Announces Proposed Class Action Settlement on Behalf of Holders of Oclaro, Inc. Common Stock

NEW YORK, Aug. 30, 2023 /PRNewswire/ -- 

TO: ALL RECORD AND BENEFICIAL HOLDERS OF COMMON STOCK OF OCLARO, INC. ("OCLARO" OR THE "COMPANY") WHO HELD SUCH STOCK DURING THE PERIOD FROM AND INCLUDING MAY 15, 2018, THE RECORD DATE FOR VOTING ON THE MERGER OF OCLARO AND LUMENTUM HOLDINGS INC. ("LUMENTUM"), THROUGH AND INCLUDING DECEMBER 10, 2018, THE DATE THE MERGER CLOSED, INCLUDING ANY AND ALL OF THEIR RESPECTIVE PREDECESSORS, SUCCESSORS, TRUSTEES, EXECUTORS, ADMINISTRATORS, ESTATES, LEGAL REPRESENTATIVES, HEIRS, ASSIGNS AND TRANSFEREES (THE "SETTLEMENT CLASS").

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on February 22, 2024, at 10:00 a.m., before the Honorable James Donato. Settlement Class Members should check the Settlement Class website in advance of the Final Approval Hearing to determine whether that hearing will occur in person at the United States District Court for the Northern District of California, 450 Golden Gate Avenue, San Francisco, CA 94102 or via a remote link. The hearing will be held for the purpose of determining: (1) whether the proposed Settlement of the Litigation for $15.25 million should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice and releasing the Released Claims against Defendants and Defendants' Released Persons; (3) whether final certification of the Settlement Class should be granted; (4) whether the Plan of Allocation for the Net Settlement Fund is fair, reasonable, and adequate and should be approved; and (5) whether the application of Lead Counsel for the payment of attorneys' fees and expenses, and any service award to Lead Plaintiff pursuant to 15 U.S.C. §78u-4(a)(4) should be approved.

IF YOU HELD OCLARO COMMON STOCK DURING THE PERIOD FROM AND INCLUDING MAY 15, 2018, THROUGH AND INCLUDING DECEMBER 10, 2018 (THE "SETTLEMENT CLASS PERIOD"), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR HOLDING(S) OF OCLARO COMMON STOCK DURING THE SETTLEMENT CLASS PERIOD.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Oclaro, Inc. Securities Litigation, RG/2 Claims Administration LLC, P.O. Box 59479, Philadelphia, PA 19102-9479, or [email protected], by telephone at 1-866-742-4955, or on the Internet at www.oclarosecuritieslitigation.com. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail, postmarked no later than December 21, 2023, or online at www.oclarosecuritieslitigation.com no later than December 21, 2023, establishing that you are entitled to recovery.

If you held Oclaro common stock during the Settlement Class Period and you desire to be excluded from the Settlement Class, you must submit a request for exclusion so that it is postmarked no later than December 21, 2023, in the manner and form explained in the detailed Notice referred to above. All Members of the Settlement Class who do not timely and validly request exclusion from the Settlement Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation of Settlement.

Objections to the Settlement, the Plan of Allocation, Lead Counsel's request for the payment of attorneys' fees and expenses, and any award to Lead Plaintiff must be submitted to the Court either by filing them electronically or in person at any location of the United States District Court for the Northern District of California on or before December 21, 2023 or by mailing them to the Court, postmarked no later than December 21, 2023 to the following address:

Class Action Clerk
United States District Court
Northern District of California
450 Golden Gate Avenue
San Francisco, CA 94102

PLEASE DO NOT CONTACT THE COURT OR THE COURT'S CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed below:

Monteverde & Associates PC
Juan E. Monteverde
The Empire State Building
350 Fifth Avenue, Suite 4740
New York, New York 10118
jmonteverde@monteverdelaw.com
(212) 971-1341

Dated: August 30, 2023                                              BY ORDER OF THE COURT
                                                                                        UNITED STATES DISTRICT COURT
                                                                                        NORTHERN DISTRICT OF CALIFORNIA

SOURCE Monteverde & Associates PC