NEW ORLEANS--(BUSINESS WIRE)--The following statement is being issued by Kahn Swick & Foti, LLC regarding the Allot Communications, Ltd. Securities Litigation.
|TO:||ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY-TRADED COMMON STOCK OF ALLOT COMMUNICATIONS, LTD. (“ALLOT”) (TRADING SYMBOL NASDAQ: ALLT) BETWEEN NOVEMBER 15, 2006, AND APRIL 2, 2007, INCLUSIVE:|
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on April 29, 2011, at 10:00 a.m., before the Honorable Richard J. Holwell at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., Courtroom 17B, New York, NY 10007-1312, for the purpose of determining: (1) whether the proposed settlement for the sum of $1,300,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, after the hearing, this Action should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated as of August 5, 2010; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Co-Lead Counsel for the payment of attorneys’ fees and reimbursement of expenses incurred in this Action should be approved.
If you purchased or otherwise acquired the common stock of Allot between November 15, 2006, and April 2, 2007, inclusive, your rights may be affected by the settlement of this Action. If you have not received a detailed Notice of Pendency of Class Action and Proposed Settlement With All Defendants, Motion for Attorneys’ Fees, and Settlement Hearing (“Notice”) and a copy of the Proof of Claim and Release, you should obtain copies by writing to Allot Communications, Ltd. Securities Litigation, c/o The Garden City Group, Inc., PO Box 9349, Dublin, OH 43017-4249 or by visiting the website of the Claims Administrator at http://www.gcginc.com. The Notice contains details about this Action and Settlement, including what you must do to exclude yourself from the Settlement. The Notice also contains details about procedures for objecting to the terms of the Settlement and for filing a Proof of Claim.
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 March 28, 2011, establishing that you are entitled to recovery.
If you desire to be excluded from the Class, you must submit a Request for Exclusion postmarked by April 1, 2011, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who have not timely and validly requested exclusion from the Class will be bound by any judgment entered in the Action pursuant to the terms and conditions of the Stipulation of Settlement.
If you desire to object to the Settlement, your objection(s) must be mailed on or before April 1, 2011, to: the Court; Kahn Swick & Foti, LLC on behalf of the Lead Plaintiffs; and Counsel for the Defendants, at the following addresses:
Clerk of the Court
United States District Court for the Southern District of New York
Daniel Patrick Moynihan U.S. Courthouse
500 Pearl Street
New York, NY 10007
FOR LEAD PLAINTIFFS:
Lewis S. Kahn
KAHN SWICK & FOTI, LLC
206 Covington Street
Madisonville, Louisiana 70447
Co-Lead Counsel for Lead Plaintiffs and the Class
Nina F. Locker
WILSON SONSINI GOODRICH & ROSATI, P.C.
650 Page Mill Road
Palo Alto, CA 94304-1050
Attorneys for Defendants Allot Communications Network, Ltd., Yigal Jacoby, Rami Hadar, and Adi Sapir
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Co-Lead Counsel for Lead Plaintiffs and the Class at the address listed above.
DATED: JANUARY 3, 2011
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK