Federman & Sherwood And Sidley Austin LLP Announce Class Action Litigation Settlement Hearing In re Brasher v. Broadwind Energy, Inc.

OKLAHOMA CITY, April 3, 2013 /PRNewswire/ -- ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED BROADWIND ENERGY, INC. ("BROADWIND") COMMON STOCK DURING THE PERIOD MARCH 16, 2009 THROUGH AUGUST 9, 2010, INCLUSIVE, ARE ASKED TO READ THIS NOTICE CAREFULLY AS THEIR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS, EASTERN DIVISION.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Illinois, Eastern Division, that a hearing will be held on June 27, 2013, at 10:00 a.m., before the Honorable James Zagel at the Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, Illinois, for the purpose of determining: (1) whether the proposed settlement of the claims in the Litigation for the sum of $3,915,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, thereafter, the Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement, dated March 6, 2013 ("Stipulation"); (3) whether the Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; and (4) whether the application of Plaintiffs' counsel for the payment of attorneys' fees and expenses, including expenses of Lead Plaintiff, incurred in connection with the Litigation should be approved.

If you purchased Broadwind common stock during the period March 16, 2009 through August 9, 2010, inclusive, and were damaged thereby, your rights may be affected by the settlement of the Litigation.  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 ("Proof of Claim"), you may obtain copies by writing to Broadwind Securities Litigation, c/o Heffler Claims Administration, P.O. Box 58938, Philadelphia, PA 19102 or going to www.BroadwindSettlement.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 postmarked no later than July 27, 2013, establishing that you are entitled to recovery.

If you desire to be excluded from the Class, you must submit a request for exclusion postmarked by June 3, 2013, in the manner and form explained in the detailed Notice referred to above.  All Members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the terms and conditions of the Stipulation.

Any objection to the Settlement must be mailed or delivered, in the manner and form explained in the detailed Notice referred to above, such that it is received by each of the following no later than June 7, 2013:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
Everett McKinley Dirksen United States Courthouse
219 South Dearborn Street
Chicago, IL 60604

Counsel for Plaintiffs:
William B. Federman
FEDERMAN & SHERWOOD
10205 N. Pennsylvania Avenue
Oklahoma City, OK 73120

Counsel for Defendants:
Meredith Jenkins Laval
SIDLEY AUSTIN LLP
One South Dearborn Street
Chicago, IL 60603

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact counsel for the Plaintiffs at the address listed above or go to the following website: www.BroadwindSettlement.com.

SOURCE Federman & Sherwood