Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Rubicon Technology, Inc. Stockholders Litigation

CHICAGO, Feb. 24, 2016 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Rubicon Technology, Inc. Stockholders Litigation:

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION

SUMMARY NOTICE

TO: ALL PERSONS WHO PURCHASED THE COMMON STOCK OF RUBICON TECHNOLOGY, INC. ("RUBICON" OR THE "COMPANY") PURSUANT TO THE COMPANY'S PUBLIC OFFERING ON OR ABOUT MARCH 19, 2014 ("MARCH 2014 OFFERING")

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Northern District of Illinois, a hearing will be held on May 20, 2016, at 10:30 a.m., before the Honorable Manish S. Shah, United States District Judge, at the Everett McKinley Dirksen United States Courthouse, Courtroom 1719, 219 South Dearborn Street, Chicago, IL 60604, for the purpose of determining: (1) whether the proposed settlement of the Action for the sum of Two Million Five Hundred Thousand Dollars ($2,500,000) in cash should be approved by the Court as fair, reasonable, and adequate, which would result in this Action being dismissed against the Released Persons as set forth in the Settlement Agreement dated as of January 15, 2016; (2) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (3) the reasonableness of Lead Counsel's request for an award of attorneys' fees and expenses in connection with this Action, together with interest thereon.

If you purchased Rubicon common stock pursuant to the March 2014 Offering, 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 Rubicon Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040, or by downloading this information at www.rubiconsecuritieslitigation.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 by mail postmarked no later than May 17, 2016, or submitted electronically no later than May 17, 2016, 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 April 18, 2016.

Any objection to any aspect of the settlement must be filed with the Clerk of the Court no later than April 18, 2016 and received by the following no later than April 18, 2016:

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

SOURCE Robbins Geller Rudman & Dowd LLP

Related Links

http://www.rubiconsecuritieslitigation.com