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Robbins Geller Rudman & Dowd LLP Announces Novatel Wireless Securities LitigationSAN DIEGO --(Business Wire)-- The following statement is being issued by Robbins Geller Rudman & Dowd LLP pursuant to an Order of the United States District Court, Southern District of California:
TO: ALL PERSONS WHO PURCHASED THE COMMON STOCK OF NOVATEL WIRELESS, INC. ("NWI") BETWEEN FEBRUARY 27, 2007 AND SEPTEMBER 15, 2008, INCLUSIVE (THE "CLASS PERIOD") YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Southern District of California, a hearing will be held on June 20, 2014, at 3:00 p.m., before the Honorable Anthony J. Battaglia, United States District Judge, at the Edward J. Schwartz U.S. Courthouse, 221 West Broadway, San Diego, California 92101, for the purpose of determining: (1) whether the proposed settlement of the Action for the amount of Sixteen Million Dollars ($16,000,000.00) should be approved by the Court as fair, reasonable, and adequate; (2) whether, thereafter, this Action should be dismissed with prejudice against Defendants as set forth in the Stipulation of Settlement dated January 31, 2014; (3) whether the Plan of Distribution of settlement proceeds is fair, reasonable and adequate, and therefore should be approved; (4) the reasonableness of the application of Lead Counsel for the payment of attorneys' fees and expenses, together with interest thereon; and (5) the amount that Lead Plaintiffs should be paid for their expenses in representing the Class. If you purchased NWI common stock during the period February 27, 2007 through September 15, 2008, inclusive, your rights may be affected by this Action 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 Novatel Wireless Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 990, Corte Madera, CA (News - Alert) 94976-0990, or by downloading this information at www.novatelwirelesssettlement.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 postmarked no later than June 30, 2014, establishing that you are entitled to a recovery. You will be bound by any judgment rendered in the Action unless you request to be excluded (or have already requested to be excluded from the Class pursuant to the Notice of Pendency of Class Action that was provided to the Class pursuant to the Court's Order dated January 18, 2011 certifying the Class), in writing, to the above address, postmarked by May 30, 2014. Any objection to any aspect of the Settlement must be filed no later than May 30, 2014, with the Court:
CLERK OF THE COURT and served on each of the following so that it is received no later than May 30, 2014:
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
BY ORDER OF THE COURT Dated March 10, 2014
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