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Coughlin Stoia Geller Rudman & Robbins LLP, Milberg LLP and Faruqi & Faruqi, LLP Announce Proposed Settlement of Class Action in Aeroflex, Inc. Shareholder Litigation.

Article Excerpt
Coughlin Stoia Geller Rudman & Robbins LLP, Milberg LLP and Faruqi & Faruqi, LLP announce the proposed settlement of the In re Aeroflex, Inc. Shareholder Litigation, No. 07-003943 (Sup. Ct. Nassau County, New York). Pursuant to order of the Court, the notice of proposed settlement is reproduced in full below: SUPREME COURT OF THE STATE OF NEW YORKCOUNTY OF NASSAU: COMMERCIAL DIVISION  

In re AEROFLEX, INC. SHAREHOLDER LITIGATION

 

 

 

 

 

 

 

 

 

 

 

 

 

  Index No. 07-003943  

Hon. Ira B. Warshawsky

IAS Part 12 NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION,FAIRNESS HEARING AND RIGHT TO APPEAR, AND APPLICATIONOF PLAINTIFFS' COUNSEL FOR AN AWARD OF FEES AND EXPENSES TO:  

 

  ALL INDIVIDUALS AND ENTITIES WHO BOUGHT, SOLD OR HELD SHARES OF COMMON STOCK OF AEROFLEX, INC. AT ANY TIME DURING THE PERIOD BETWEEN MARCH 2, 2007 THROUGH AND INCLUDING AUGUST 15, 2007 (THE "SETTLEMENT CLASS PERIOD") PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. THIS NOTICE RELATES TO A PROPOSED SETTLEMENT OF LITIGATION AND CONTAINS IMPORTANT INFORMATION REGARDING YOUR RIGHTS. YOUR RIGHTS WILL BE AFFECTED BY LEGAL PROCEEDINGS IN THIS LITIGATION. IF THE COURT APPROVES THE PROPOSED SETTLEMENT, THE SETTLEMENT CLASS WILL BE FOREVER BARRED FROM CONTESTING THE FAIRNESS, REASONABLENESS OR ADEQUACY OF THE PROPOSED SETTLEMENT, OR FROM PURSUING ANY OF THE SETTLED CLAIMS.

THE COURT HAS MADE NO FINDINGS OR DETERMINATIONS RESPECTING THE MERITS OF THIS CASE. THE RECITATION OF THE BACKGROUND AND CIRCUMSTANCES OF THE SETTLEMENT CONTAINED HEREIN DOES NOT CONSTITUTE THE FINDINGS OF THE COURT. IT IS BASED ON REPRESENTATIONS MADE TO THE COURT BY COUNSEL FOR THE PARTIES. IF YOU WERE THE RECORD, BUT NOT THE BENEFICIAL, OWNER OF AEROFLEX, INC. COMMON STOCK DURING THE SETTLEMENT CLASS PERIOD, PLEASE TRANSMIT THIS DOCUMENT TO THE BENEFICIAL OWNER(S) FOR WHOM YOU HELD SUCH COMMON STOCK. THIS NOTICE IS GIVEN pursuant to an Order of the Court (the "Preliminary Approval Order") entered in the "Litigation" (as defined below) brought on behalf of persons and entities who bought, sold or held shares of common stock of Aeroflex, Inc. ("Aeroflex" or the "Company") at any time during the period between March 2, 2007 through and including August 15, 2007. The purpose of this Notice is to inform you of the proposed settlement of the Litigation (the "Settlement"), and of a hearing (the "Fairness Hearing") to be held before the Honorable Justice Ira B. Warshawsky in the Supreme Court of the State of New York, County of Nassau, IAS Part 12, 100 Supreme Court Drive, Mineola, New York 11501, at 11:00 a.m. on June 30, 2009. The purpose of the Fairness Hearing is (i) to determine whether the proposed Settlement, as set forth in the Stipulation and Agreement of Settlement entered into by the parties to the Litigation and dated as of March 2, 2009 (the "Stipulation"), is fair, reasonable, adequate, in the best interests of the Settlement Class (defined below) and should be approved by the Court; (ii) to determine whether a judgment should be entered in the Litigation pursuant to the proposed Settlement that will, among other things, dismiss the Litigation with prejudice and release the Released Claims (as defined below); (iii) to consider Plaintiffs' counsel's attorneys' fees and expenses; and (iv) to consider such other matters as the Court may deem appropriate. DESCRIPTION OF THE LITIGATION 1. On or about March 2, 2007, Aeroflex announced its entry into an Agreement and Plan of Merger pursuant to which two private equity firms, General Atlantic LLC and Francisco Partners II, L.P. (collectively, the "GA/FP...

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