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

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

   

SUPERIOR COURT OF THE STATE OF CALIFORNIA

COUNTY OF ORANGE

 

In re CERADYNE, INC. SHAREHOLDER

) Lead Case No. 30-2012-00604001-CU-BT-CXC

LITIGATION

) (Consolidated with

 

) Case No. 30-2012-00604931-CU-SL-CXC)

This Document Relates To:

)

CLASS ACTION

ALL ACTIONS.

) Assigned to: Judge Thierry P. Colaw
) DEPT: CX105
  ) DATE ACTION FILED: 10/09/12
 

SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

IF YOU HELD SHARES OF COMMON STOCK IN CERADYNE, INC. (“CERADYNE”) AND RECEIVED CONSIDERATION FOR YOUR SHARES IN THE SALE OF CERADYNE TO 3M COMPANY AT THE PRICE OF $35.00 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 Orange, that a hearing will be held on May 4, 2018, at 10:30 a.m., in Department CX105 of the Complex Civil Division, 751 West Santa Ana Blvd., Santa Ana, California 92701, for the purpose of determining: (1) whether the proposed settlement of the claims in the Action for the sum of $11,300,000.00 in cash plus interest on the terms set forth in the Stipulation of Settlement dated June 14, 2017 and the Notice of Amendments to the Stipulation of Settlement dated June 14, 2017 (together, “Stipulation” or “Settlement”) should be approved by the Court as fair, reasonable, and adequate;1 (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 service awards to Plaintiffs should be approved.

If you received consideration for your Ceradyne common stock shares in the sale of Ceradyne to the 3M Company at the price of $35.00 per share, your rights may be affected by the Settlement of this Action. If you have not received a more detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim, you may obtain copies by writing to Ceradyne Shareholder Litigation, Claims Administrator, c/o Gilardi & Co. LLC, PO Box 404041, Louisville, KY 40233-4041, or you can download a copy at www.ceradyneshareholdersettlement.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 March 1, 2018, or submitted electronically no later than March 1, 2018, 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.

Any 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 awards to Plaintiffs must be filed with the Court at the address below and sent to Class Counsel listed below such that it is received no later than March 1, 2018:

                               

The Court:

Class Counsel:

 
Clerk of the Court Jeffrey D. Light
SUPERIOR COURT OF CALIFORNIA ROBBINS GELLER RUDMAN & DOWD LLP
COUNTY OF ORANGE 655 West Broadway, Suite 1900
Civil Complex Center San Diego, CA 92101
751 West Santa Ana Blvd.
Santa Ana, CA 92701
 

A Class Member may also appear at the Settlement Hearing to object.

If you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked no later than March 1, 2018, in the manner and form explained in the Notice. Pursuant to a Supplemental Agreement entered into between the parties, Defendants have the option, that they do not have to exercise, to terminate the Settlement set forth in the Stipulation in the event that the number of shares of Ceradyne common stock held by persons or entities who would otherwise be eligible to participate as Class Members but who timely and validly request exclusion from the Class or Settlement exceeds a certain number of shares of Ceradyne common stock agreed to by the parties. All members of the Class who have not requested exclusion from the Class will be bound by the Settlement of the Action even if they do not file a timely Proof of Claim.

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

                           
ROBBINS GELLER RUDMAN & DOWD LLP

Ceradyne Shareholder Litigation

Shareholder Relations Claims Administrator
Rick Nelson c/o Gilardi & Co. LLC
655 West Broadway, Suite 1900 PO Box 404041
San Diego, CA 92101 Louisville, KY 40233-4041
1-800-449-4900 1-844-510-5941

www.ceradyneshareholdersettlement.com

 

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

                   
DATED: November 17, 2017 BY ORDER OF THE SUPERIOR COURT
STATE OF CALIFORNIA
COUNTY OF ORANGE
 

________________

1   All capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Stipulation.
 

Contacts

Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
1-800-449-4900

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