Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of McAfee Shareholder Litigation

SAN JOSE, Calif.--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the McAfee Shareholder Litigation:

 
SUPERIOR COURT OF THE STATE OF CALIFORNIA
COUNTY OF SANTA CLARA
 
In re McAFEE, INC. SHAREHOLDER LITIGATION )   Lead Case No. 1:10-cv-180413
Consolidated action, including: )

CLASS ACTION

Greenberg v. McAfee, Inc., Santa Clara County

) Judge: Hon. Thomas E. Kuhnle
Superior Court, Case No. 1:10-cv-180413 ) Dept: 5

Colwell v. McAfee, Inc., Santa Clara County Superior

)
Court, Case No. 1:10-cv-180420 )

Faulkner v. McAfee, Inc., Santa Clara County Superior

)
Court, Case No. 1:10-cv-180597 )

Korsinsky v. Bass, Santa Clara County Superior Court,

)
Case No. 1:10-cv-180928 )
  )
This Document Relates To: )
ALL ACTIONS. )
)
  )
 

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

IF YOU HELD SHARES OF COMMON STOCK IN MCAFEE, INC. (“MCAFEE”) AND EXCHANGED YOUR SHARES FOR CONSIDERATION IN THE ACQUISITION OF MCAFEE BY INTEL CORPORATION (“INTEL”) AT THE PRICE OF $48.00 PER SHARE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF A CLASS ACTION.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Superior Court of the State of California, County of Santa Clara, that a hearing will be held on October 4, 2019, at 9:00 a.m. (the “Settlement Hearing”), in Department 5, 191 North First Street, San Jose, California 95113, for the purpose of determining: (1) whether the proposed settlement of the claims in the Action for the sum of $11,700,000.00 in cash on the terms set forth in the Stipulation of Settlement dated March 13, 2019 (“Stipulation” or “Settlement”) should be approved by the Court as fair, reasonable, and adequate1; (2) whether the plan of distribution is fair, reasonable, and adequate and therefore should be approved; and (3) whether the application of Class Counsel for an award of attorneys’ fees and expenses and a service award to Plaintiff, the Central Laborers’ Pension Fund, should be approved.

If you received consideration for your McAfee common stock shares in the acquisition of McAfee by Intel at the price of $48.00 per share, your rights may be affected by the Settlement of this Action. If you have not received a more detailed Notice of Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim, you may obtain copies by writing to McAfee Shareholder Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 404129, Louisville, KY 40233-4129, or you can download a copy at www.McAfeeShareholderSettlement.com. If you are a Class Member, in order to share in the Settlement proceeds, you must submit a Proof of Claim by mail postmarked no later than September 9, 2019, or submitted electronically no later than September 9, 2019, establishing that you are entitled to recovery. You will be bound by any judgment rendered in the Action whether or not you make a claim. If you requested exclusion from the Class in connection with the Notice of Pendency, no further action is required to be excluded from the Class for purposes of the Settlement or any judgment that may be entered in this Action.

Although you may appear and be heard at the Settlement Hearing without filing a written submission in advance, should you wish to file a written objection to the Settlement, the plan of distribution, or Class Counsel’s request for an award of attorneys’ fees and expenses and/or the service award to Plaintiff, you may do so by filing it with the Court at the address below and sending it to Class Counsel listed below such that it is received no later than August 12, 2019:

                                 

The Court:

Class Counsel:

Clerk of the Court Maxwell Huffman
SUPERIOR COURT OF CALIFORNIA ROBBINS GELLER RUDMAN & DOWD
COUNTY OF SANTA CLARA LLP
191 North First Street 655 West Broadway, Suite 1900
San Jose, CA 95113 San Diego, CA 92101
 

Inquiries regarding the Settlement or the Action may be made to a representative of Class Counsel or the Claims Administrator:

                                             
ROBBINS GELLER RUDMAN

McAfee Shareholder Litigation

& DOWD LLP Claims Administrator
Shareholder Relations c/o Gilardi & Co. LLC
655 West Broadway, Suite 1900 P.O. Box 404129
San Diego, CA 92101 Louisville, KY 40233-4129
1-800-449-4900 1-866-610-7721

www.McAfeeShareholderSettlement.com

 

PLEASE DO NOT CONTACT DEFENDANTS, THE COURT, OR THE CLERK OF THE COURT ABOUT THE SETTLEMENT.

                         
DATED: May 28, 2019 BY ORDER OF THE SUPERIOR COURT
STATE OF CALIFORNIA
COUNTY OF SANTA CLARA
 

1 All capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Stipulation. The Stipulation can be viewed and/or downloaded at www.McAfeeShareholderSettlement.com.

Contacts

Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
1-619-231-1058

Contacts

Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
1-619-231-1058