Labaton Sucharow LLP Announces Summary Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys' Fees and Expenses in the K12, Inc. Securities Litigation

ALEXANDRIA, Va., April 18, 2013 /PRNewswire/ -- The following statement is being issued by Labaton Sucharow LLP regarding the K12, Inc. Securities Litigation

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF VIRGINIA
ALEXANDRIA DIVISION

DAVID HOPPAUGH, Individually and On Behalf of All Others Similarly Situated, Plaintiff, vs.
K12 INC., RONALD J. PACKARD, and HARRY T. HAWKS, Defendants.

Civ. A. No. 1:12-cv-00103-CMH-IDD

TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED COMMON STOCK OF K12 INC. ("K12") FROM SEPTEMBER 9, 2009 THROUGH DECEMBER 12, 2011, INCLUSIVE, AND WHO WERE DAMAGED THEREBY (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 litigation ("Litigation") has been certified as a class action and that a settlement with K12, and Ronald J. Packard and Harry T. Hawks (the "Individual Defendants," and together with K12, the "Defendants"), in the amount of $6,750,000 in cash, has been proposed by the Parties.  The Parties have also stipulated to the voluntary dismissal with prejudice of certain claims (the "Dismissal").

A hearing will be held before the Honorable Claude M. Hilton of the United States District Court for the Eastern District of Virginia in the Albert V. Bryan U.S. Courthouse, 401 Courthouse Square, Alexandria, VA 22314 at 10:00 a.m., on July 19, 2013 to, among other things: determine whether the proposed Settlement and Dismissal should be approved by the Court as fair, reasonable, and adequate; determine whether the proposed Plan of Allocation for distribution of the settlement proceeds should be approved as fair and reasonable; and consider the application of Lead Counsel for an award of attorneys' fees and reimbursement of litigation expenses.  The Court may change the date of the hearing without providing another notice. 

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE PENDING LITIGATION AND THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND.  If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys' Fees and Expenses ("Notice") and a Proof of Claim and Release Form ("Proof of Claim"), you may obtain copies of these documents by contacting the Claims Administrator:

K12, Inc. Securities Litigation
c/o The Garden City Group, Inc.
Claims Administrator
P.O. Box 9974
Dublin, OH 43017-5974
Phone: 1-866-282-3028
[email protected]
www.gcginc.com/cases/K12

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:

LABATON SUCHAROW LLP
Jonathan Gardner
140 Broadway
New York, NY 10005
Phone: 1-888-219-6877
www.labaton.com
[email protected]

If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked no later than August 3, 2013.  To exclude yourself from the Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice so that it is received no later than June 10, 2013.  If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Final Order and Judgment of the Court.  Any objections to the proposed Settlement, the voluntary dismissal, the Plan of Allocation, and/or application for attorneys' fees and reimbursement of expenses must be filed with the Court and served on counsel for the Parties in accordance with the instructions set forth in the Notice so that they are received no later than June 10, 2013.  If you are a Class Member and do not timely submit a valid Proof of Claim, you will not be eligible to share in the Net Settlement Fund, but you nevertheless will be bound by the Final Order and Judgment of the Court.

SOURCE Labaton Sucharow LLP

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