Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of the ECOtality, Inc. Securities Litigation

SAN FRANCISCO, March 26, 2015 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the ECOtality, Inc. Securities Litigation:

SUMMARY NOTICE

TO:     ALL PERSONS WHO PURCHASED ECOTALITY, INC. ("ECOTALITY") COMMON STOCK BEGINNING ON APRIL 16, 2013 AND THROUGH AND INCLUDING AUGUST 12, 2013, AND WERE DAMAGED THEREBY

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Northern District of California, a hearing will be held on August 14, 2015, at 10:00 a.m., before the Honorable Samuel Conti, United States Senior District Judge, at the United States District Court for the Northern District of California, 450 Golden Gate Avenue, Courtroom 1, San Francisco, CA 94102, for the purpose of determining: (1) whether the proposed Settlement of the Litigation for the sum of $1,100,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether the Plan of Allocation of Settlement proceeds is fair, reasonable, and adequate and therefore should be approved; (3) whether Lead Counsel's application for the payment of attorneys' fees of up to 25% of the Settlement proceeds and expenses incurred in connection with this Litigation, together with interest thereon, should be approved; (4) whether and in what amount Lead Plaintiff should be paid for his time and expenses in representing the Class; and (5) whether the Court should enter the Order Approving the Settlement and Order of Dismissal and the Judgment and dismiss the Litigation with prejudice.

If you purchased ECOtality common stock beginning on April 16, 2013 and through and including August 12, 2013, and were damaged thereby, your rights may be affected by this Litigation and the Settlement thereof.  If you have not received a detailed Notice of Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to ECOtality Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 990, Corte Madera, CA 94976-0990, or by downloading this information at www.ecotalitysecuritieslitigation.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form by mail or online no later than June 18, 2015, establishing that you are entitled to a recovery.  You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, to the above address of the Claims Administrator, postmarked by May 19, 2015.

Any objection to any aspect of the Settlement must be mailed or filed with the Class Action Clerk at the United States District Court for the Northern District of California, 450 Golden Gate Avenue, San Francisco, CA 94102 or filed in person at any location for the Northern District of California, such that it is filed on or before May 19, 2015.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

DATED: March 6, 2015

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA

SOURCE Robbins Gellar Rudman & Dowd LLP