Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Vestas Wind Systems A/S Securities Litigation
PORTLAND, Ore.--(BUSINESS WIRE)--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the VESTAS WIND SYSTEMS A/S SECURITIES LITIGATION:
In re VESTAS WIND SYSTEMS
|)||Case No. 3:11-cv-00585-MO|
ALL PERSONS WHO, DURING THE PERIOD FROM FEBRUARY 11, 2009, THROUGH FEBRUARY 9, 2012, INCLUSIVE (THE “CLASS PERIOD”), PURCHASED OR OTHERWISE ACQUIRED AMERICAN DEPOSITARY RECEIPTS (“ADRs”) OR COMMON STOCK OF VESTAS WIND SYSTEMS A/S (“VESTAS”) IN U.S. DOMESTIC TRANSACTIONS, INCLUDING ON THE OVER-THE-COUNTER MARKET.
YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified as a class action and that the Lead Plaintiff has reached a proposed settlement with Vestas to resolve all claims in the case for $5,000,000 in cash.
For settlement purposes, the Court has certified a Class consisting of all persons and entities who purchased or otherwise acquired ADRs for Vestas ordinary shares and Vestas common stock (ordinary shares) in U.S. domestic transactions during the Class Period. The proposed settlement does not apply to purchases or acquisitions of Vestas securities in non-U.S. transactions.
A hearing will be held on December 9, 2014, at 11:00 a.m., before United States District Judge Michael W. Mosman, in the United States District Court for the District of Oregon, Portland Division, located at Mark O. Hatfield U.S. Courthouse, 1000 S.W. Third Avenue, Portland, Oregon 97204, to determine whether the Court should approve the proposed settlement as fair, reasonable, and adequate and whether the Court should grant Lead Counsel’s application for attorneys’ fees and expenses.
IF YOU ARE A CLASS MEMBER, YOUR RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT MONEY.
If you have not yet received the Notice of: (1) Pendency and Proposed Settlement of Class Action and (2) Hearing on Proposed Settlement (the “Notice”), you may obtain it by contacting In re Vestas Wind Systems A/S Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040, United States of America, telephone (877) 430-6692 or (317) 324-0701. You may also download the Notice from: www.vestassecuritieslitigation.com.
To participate in the settlement, you must submit a Claim Form. You may download the Claim Form from www.vestassecuritieslitigation.com, or you may contact the Claims Administrator to request a Claim Form and to be added to the mailing list. Completed Claim Forms must be postmarked or received by December 29, 2014, at the Claims Administrator’s address (printed above).
If you purchased or otherwise acquired ADRs or Vestas common stock in U.S. domestic transactions during the Class Period, you will be deemed a Class Member unless you ask to be excluded from the Class. Any requests for exclusion must be received by November 19, 2014, at the Claims Administrator’s address (printed above). Each request for exclusion must (i) state the name, address, telephone number, and e-mail address (if available) of the person or entity requesting exclusion, (ii) state that such person or entity requests exclusion from the Vestas settlement, (iii) be signed by the person or entity requesting exclusion, and (iv) provide the date(s), price(s), and number(s) of shares of all purchases and sales of ADRs and Vestas common stock in U.S. domestic transactions during the Class Period. You will be bound by any judgment rendered in the class action unless you timely request exclusion from the Class as explained in the Notice, even if you have pending or later file another lawsuit, arbitration, or other proceeding relating to the claims covered by this settlement. If you submit a valid and timely request for exclusion, you cannot share in the settlement money, cannot object to the settlement, and will not be bound by the settlement or the Court’s rulings.
The Notice also describes how you may object to the settlement. All objections must be received by the Court (at the address printed above) and by the lawyers listed below no later than November 19, 2014:
|Lead Counsel for the Class||Vestas’ Counsel|
|Henry Rosen, Esq.||Ralph C. Ferrara, Esq.|
|Patrick Daniels, Esq.||Jonathan E. Richman, Esq.|
|Trig Smith, Esq.||Proskauer Rose LLP|
|Keith Park, Esq.||1001 Pennsylvania Avenue, N.W.|
|Robbins Geller Rudman & Dowd LLP||Suite 400 South|
|655 West Broadway, Suite 1900||Washington, DC 20004|
|San Diego, CA 92101|
Inquiries, other than requests for copies of the Notice or for inclusion in the mailing list for future notices, may be directed to Lead Counsel for the Class.
DATED: July 30, 2014
BY ORDER OF THE COURT