The Weiser Law Firm, P.C. and Spector Roseman Kodroff & Willis, P.C. Announce Proposed Settlement of Consolidated Action

PHILADELPHIA, Nov. 22, 2010 /PRNewswire/ -- The following statement is being issued by The Weiser Law Firm P.C. and Spector Roseman Kodroff & Willis, P.C. pursuant to an order of the Superior Court of the State of California, County of Santa Clara:

YOU ARE HEREBY NOTIFIED, pursuant to California Code of Civil Procedure section 382 and an Order of the Court, that a settlement ("Settlement") has been reached in the action captioned In re CyberSource Corporation Shareholder Litigation, Lead Case. No. 1-10 CV 170563, pending in the Superior Court for the State of California, County of Santa Clara (the "Consolidated Action").  A hearing will be held on January 14, 2011, at 9:00 a.m., in the Superior Court of the State of California, for the County of Santa Clara, 191 N. First Street, San Jose, California ("Settlement Hearing") to: (i) determine whether the Court should certify the Consolidated Action as a class action, without opt-out rights, pursuant to California Code of Civil Procedure section 382 and California Rules of Court 3.760, 3.764, and 3.765, on behalf of the Settlement Class consisting of all persons or entities who held, either of record or beneficially, shares of the common stock of CyberSource at any time from April 21, 2010, through and including July 21, 2010, and their successors-in-interest and transferees, other than defendants in this Consolidated Action and their affiliates; (ii) determine whether the proposed Settlement should be approved by the Court as fair, reasonable, adequate, and in the best interests of the plaintiffs and the Settlement Class; (iii) determine whether plaintiffs and plaintiffs' counsel have adequately represented the Settlement Class; (iv) consider the application of The Weiser Law Firm, P.C. and the law firm of Spector Roseman Kodroff & Willis, P.C., which have been appointed co-lead counsel ("Co-Lead Counsel") for the Settlement Class, for an award of attorneys' fees and expenses; (v) to hear and rule upon any objections to the Settlement or to Co-Lead Counsel's application for an award of attorneys' fees and expenses to be paid by CyberSource or its successor(s) in interest or their insurers; and (vi) to hear such other matters as may properly come before the Court.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THE CONSOLIDATED ACTION.  This is a Summary Notice only.  You should also have received a full-length printed Notice of Pendency of Class Action, Proposed Class Action Determination, Proposed Settlement of Class Action, Settlement Hearing and Right to Appear (the "Notice") in the mail.  If you have not already received the Notice, you may obtain a copy by contacting:

If you wish to obtain additional information about the claims asserted in the Consolidated Action and the terms of the proposed Settlement, you may also contact Co-Lead Counsel for Plaintiffs:

If you are a member of the Settlement Class (i.e., a Settlement Class Member), you will be bound by the order and final judgment of the Court approving the Settlement.  Any Settlement Class Member who wishes to object to the Settlement may do so at any time prior to, or during, the Settlement Hearing, by either appearing at the Settlement Hearing or by submitting a written objection to the Settlement in accordance with the procedures set forth in the Notice.

SOURCE The Weiser Law Firm, P.C.