Robbins Geller Rudman & Dowd LLP and Kessler Topaz Meltzer & Check, LLP Announce Proposed Settlement of the Camelot Information Systems Inc. Securities Litigation

NEW YORK--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP and Kessler Topaz Meltzer & Check, LLP regarding the Camelot Information Systems Inc. Securities Litigation:

         

In re CAMELOT INFORMATION SYSTEMS INC.

SECURITIES LITIGATION

 

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Civil Action No. 1:12-cv-00086-PGG

 

CLASS ACTION

 

SUMMARY NOTICE

This Document Relates To:


ALL ACTIONS.

   
   

TO:

ALL PERSONS THAT PURCHASED OR OTHERWISE ACQUIRED THE AMERICAN DEPOSITARY SHARES (“ADSs”) OF CAMELOT INFORMATION SYSTEMS INC. (“CAMELOT”): (I) ISSUED PURSUANT OR TRACEABLE TO CAMELOT’S JULY 21, 2010 INITIAL PUBLIC OFFERING OF ITS ADSs; (II) ISSUED PURSUANT OR TRACEABLE TO CAMELOT’S DECEMBER 10, 2010 SECONDARY PUBLIC OFFERING OF ITS ADSs; AND/OR (III) ON THE OPEN MARKET DURING THE PERIOD FROM JULY 21, 2010 THROUGH SEPTEMBER 28, 2011, INCLUSIVE, AND WHO WERE ALLEGEDLY DAMAGED THEREBY (THE “CLASS”)

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that the above-captioned action has been certified as a class action for purposes of settlement only and that a settlement for $2,750,000 has been proposed. A hearing will be held on May 12, 2015, at 10:00 a.m., before the Honorable Paul G. Gardephe at the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, Courtroom 705, New York, NY 10007 for the purpose of determining: (1) whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (2) whether the Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice, and the releases specified and described in the Settlement Agreement dated March 19, 2014 should be granted; (3) whether the proposed Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Co-Lead Counsel for an award of attorneys’ fees and expenses in connection with this Litigation should be approved.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not received a detailed Notice of Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim form, you may obtain copies by writing to Camelot Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 990, Corte Madera, CA 94976-0990, or find them on the Internet at www.camelotsecuritiessettlement.com. If you are a Class Member, in order to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim form by mail or online no later than March 31, 2015, establishing that you are entitled to a recovery. If you are a Class Member and do not submit a proper Proof of Claim form, you will not be eligible to share in the distribution of the Net Settlement Fund but you will nevertheless be bound by any judgments entered by the Court in this Litigation.

If you are a Class Member and you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked no later than April 21, 2015, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the Settlement Agreement.

If you are a Class Member, you have the right to object to the proposed Settlement, the proposed Plan of Allocation and/or the request by Co-Lead Counsel for an award of attorneys’ fees and expenses. Any objections must be filed with the Court and delivered to each of the following recipients such that they are received no later than April 21, 2015:

 

To Co-Lead Counsel:

ROBBINS GELLER RUDMAN

  & DOWD LLP

SAMUEL H. RUDMAN

DAVID A. ROSENFELD

58 South Service Road, Suite 200

Melville, NY 11747

KESSLER TOPAZ MELTZER

  & CHECK, LLP

JOHNSTON de F. WHITMAN, JR.

JENNIFER L. ENCK

280 King of Prussia Road

Radnor, PA 19087

To Counsel for Defendants Camelot Information Systems Inc., Yiming Ma, Heidi Chou, Ajit Bhushan, Ching-Hua Ho, Shang-Wen Hsiao, and Claude Leglise:

SKADDEN, ARPS, SLATE, MEAGHER

  & FLOM LLP

SCOTT D. MUSOFF

Four Times Square

New York, NY 10036

 

To Counsel for Defendant Goldman Sachs (Asia) L.L.C., Goldman Sachs & Co., Barclays Capital Inc., William Blair & Company, L.L.C., Cowen & Company, LLC, and Oppenheimer & Co. Inc.:

FRIED, FRANK, HARRIS, SHRIVER

  & JACOBSON LLP

WILLIAM G. McGUINNESS

One New York Plaza

New York, NY 10004

 
 

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, Rick Nelson, c/o Shareholder Relations, Robbins Geller Rudman & Dowd LLP, 655 West Broadway, Suite 1900, San Diego, CA 92101, 1-800-449-4900. Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, Gilardi & Co. LLC, at the address listed above.

             
DATED: December 11, 2014           BY ORDER OF THE COURT

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

Contacts

Robbins Geller Rudman & Dowd LLP
David A. Rosenfeld, 1-631-755-6213

Website

Release Summary

Robbins Geller Rudman & Dowd LLP and Kessler Topaz Meltzer & Check, LLP Announce Proposed Settlement of the Camelot Information Systems Inc. Securities Litigation

Robbins Geller Rudman & Dowd LLP