Gardy & Notis, LLP and Milberg LLP announce the proposed settlement of a securities class action lawsuit involving Opnext, Inc. common stock purchased or otherwise acquired between February 14, 20

October 30, 2009 6:30 AM EDT

NEW YORK--(BUSINESS WIRE)-- In the United States District Court for the District of New Jersey, in In re Opnext, Inc. Securities Litigation, Case No. 08-CV-920-JAP-LHG, a summary notice has been issued as follows:

Summary Notice of Pendency of Class Action, Proposed Settlement and Settlement Hearing

To: all persons who purchased or otherwise acquired the common stock of Opnext, Inc. ("Opnext") pursuant or traceable to Opnext's February 14, 2007 Initial Public Offering during the time period between February 14, 2007 and February 13, 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 has been certified as a class action and that a settlement for $2,000,000 has been proposed. A hearing will be held before the Honorable Joel A. Pisano at the United States District Court for the District of New Jersey, Clarkson S. Fisher Building & U.S. Courthouse and Post Office Building, 402 East State Street, Trenton, New Jersey 08608, at 10:00 a.m., on January 6, 2010 to determine whether the proposed settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the application of Plaintiffs' Counsel for attorneys' fees and reimbursement of expenses.

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. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Settlement Fairness Hearing and a Proof of Claim form, you may obtain copies of these documents by contacting the Claims Administrator:

In re Opnext Securities Litigation Settlement

c/o Rust Consulting, Inc., Claims Administrator

P.O. Box 2212

Faribault, MN 55021-1612

Telephone: (800) 804-6915

www.OpnextSecuritiesLitigation.com

Inquiries, other than requests for the forms of Notice and Proof of Claim, may be made to Plaintiff's Co-Lead Counsel: James S. Notis, Esq., Gardy & Notis, LLP, 560 Sylvan Avenue, Englewood Cliffs, NJ 07632, Telephone: (201) 567-7377 and Leigh Smith, Esq., Milberg LLP, One Penn Plaza, New York, NY 10119-0165, Telephone: (212) 594-5300.

To be eligible to participate in the Settlement, you must submit a Proof of Claim no later than February 5, 2010. 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 postmarked no later than December 22, 2009. Any objections to the Settlement must be filed by December 22, 2009. 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.

Further information may be obtained by contacting the Claims Administrator.

By Order of the United States District Court for the District of New Jersey

    Source: Milberg LLP

Related Categories

Press Releases

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?