Robbins Geller Rudman & Dowd LLP and Scott+Scott LLP Announce Notice of Hearing to Determine Approval of Proposed Settlement of Class Action
SAN DIEGO, May 10, 2011 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP and Scott+Scott LLP pursuant to an order of the United States District Court, Southern District of New York:
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK |
|||
x |
|||
KEVIN CORNWELL, Individually and |
: |
Civil Action No. 08-cv-03758(VM) |
|
On Behalf of All Others Similarly |
: |
(Consolidated) |
|
Situated, |
: |
||
: |
CLASS ACTION |
||
Plaintiff, |
: |
||
vs. |
: |
SUMMARY NOTICE |
|
: |
|||
CREDIT SUISSE GROUP, et al., |
: |
||
Defendants. |
: |
||
x |
|||
TO: |
ALL PERSONS WHO PURCHASED CREDIT SUISSE GROUP AMERICAN DEPOSITORY SHARES ON THE NEW YORK STOCK EXCHANGE DURING THE TIME PERIOD BETWEEN FEBRUARY 15, 2007 AND APRIL 14, 2008, INCLUSIVE (THE “CLASS PERIOD”) AND ALL U.S. RESIDENTS WHO PURCHASED CREDIT SUISSE GROUP SECURITIES ON THE SWISS STOCK EXCHANGE DURING THE CLASS PERIOD |
|
YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Southern District of New York, a hearing will be held on July 18, 2011, at 3:00 p.m., before the Honorable Victor Marrero, in Courtroom 20B of the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, New York 10007, for the purpose of determining (1) whether the proposed settlement of the Action for the sum of $70,000,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, thereafter, this Action should be dismissed with prejudice against the Defendants as set forth in the Settlement Agreement dated March 7, 2011; (3) whether the Plan of Distribution of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (4) the reasonableness of the application of Co-Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with this Action, together with interest thereon.
If you purchased the above Credit Suisse Group securities during the Class Period, your rights may be affected by this Action and the settlement thereof. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Credit Suisse Group Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 808003, Petaluma, CA 94975-8003, or by downloading this information at www.gilardi.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 August 1, 2011, 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, in writing, to the above address, postmarked by July 1, 2011.
Any objection to any aspect of the settlement must be filed with the Clerk of the Court no later than July 1, 2011, and received by each of the following no later than July 1, 2011:
Counsel for Lead Plaintiffs |
|
ROBBINS GELLER RUDMAN & DOWD LLP |
|
ELLEN GUSIKOFF STEWART |
|
655 West Broadway, Suite 1900 |
|
San Diego, CA 92101 |
|
SCOTT+SCOTT LLP |
|
BETH A. KASWAN |
|
500 Fifth Avenue, 40th Floor |
|
New York, NY 10110 |
|
Counsel for Defendants |
|
CRAVATH, SWAINE & MOORE LLP |
|
RICHARD W. CLARY |
|
DARIN P. MCATEE |
|
Worldwide Plaza |
|
825 Eighth Avenue |
|
New York, NY 10019 |
|
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. |
|
DATED: March 24, 2011 |
|
BY ORDER OF THE COURT UNITED STATES DISTRICT COURT |
|
SOUTHERN DISTRICT OF NEW YORK |
|
SOURCE Robbins Geller Rudman & Dowd LLP
Share this article