Robbins Geller Rudman & Dowd LLP Announces Notice of Hearing to Determine Approval of Proposed Settlement of Class Action

SAN DIEGO, Jan. 21, 2011 /PRNewswire/ -- 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 New York:

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 April 14, 2011, at 10:00 a.m., before the Honorable Richard J. Sullivan, at the Daniel Patrick Moynihan United States Courthouse, Southern District of New York, 500 Pearl Street, New York, NY 10007, for the purpose of determining (1) whether the proposed settlement of the Litigation for the sum of $3,250,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, thereafter, this Litigation should be dismissed with prejudice against the Defendants as set forth in the Settlement Agreement dated September 16, 2010; (3) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (4) the reasonableness of the application of Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with this Litigation, together with interest thereon.

If you purchased Orion common stock pursuant and/or traceable to Orion's initial public offering on or about December 18, 2007, through February 7, 2008, inclusive, your rights may be affected by this Litigation 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, you may obtain copies by writing to Orion Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 990, Corte Madera, CA 94976-0990, 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 postmarked no later than April 18, 2011, establishing that you are entitled to a recovery.  You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, to the above address, postmarked by March 31, 2011.

Any objection to any aspect of the settlement must be filed with the Clerk of the Court no later than March 31, 2011, and received by the following no later than March 31, 2011:

SOURCE Robbins Geller Rudman & Dowd LLP