Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Leapfrog Enterprises, Inc. Securities Litigation

SAN FRANCISCO--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Leapfrog Enterprises, Inc. Securities Litigation:

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

 
In re LEAPFROG ENTERPRISES, INC. ) Master File No. 3:15-cv-00347-EMC
SECURITIES LITIGATION )

CLASS ACTION

  ) SUMMARY NOTICE
This Document Relates To: )
ALL ACTIONS. )
)
)
  )    
TO:     ALL PERSONS THAT PURCHASED OR ACQUIRED LEAPFROG ENTERPRISES, INC. (“LEAPFROG”) COMMON STOCK DURING THE PERIOD FROM MAY 5, 2014 THROUGH JUNE 11, 2015, INCLUSIVE (THE “CLASS PERIOD”)

You may be entitled to receive money from a class action settlement. The average recovery in the Settlement per allegedly damaged share is estimated to be approximately $0.125 per share, before the deduction of any Court-approved fees and expenses, and approximately $0.083 per allegedly damaged share, after the deduction of attorneys’ fees and expenses and the costs of notice and administration of the Settlement.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on October 18, 2018, at 1:30 p.m., before the Honorable Edward M. Chen, United States District Judge, at the United States District Court for the Northern District of California, 450 Golden Gate Avenue, San Francisco, California, for the purpose of determining: (1) whether the proposed Settlement as set forth in the Stipulation of Settlement, dated February 22, 2018 (the “Stipulation”), of the above-captioned litigation (“Action”) for $5,500,000.00 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether a Judgment should be entered by the Court dismissing the Action with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys’ fees (not to exceed 25% or $1,375,000) and expenses (not to exceed $275,000) and the application by Lead Plaintiff for reimbursement of its time and expenses of $5,600 should be approved.

IF YOU PURCHASED OR ACQUIRED LEAPFROG COMMON STOCK BETWEEN MAY 5, 2014 AND JUNE 11, 2015, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION. If you have not received a detailed Notice of Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release form (“Proof of Claim”), you may obtain copies by writing to LeapFrog Enterprises Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. BOX 404056, Louisville, KY 40233-4056, or on the internet at www.LeapFrogSecuritiesClassAction.com.

If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim by mail postmarked no later than August 8, 2018, or submitted electronically no later than August 8, 2018, establishing that you are entitled to recovery. Your failure to submit your Proof of Claim by August 8, 2018, will subject your claim to possible rejection and may preclude you from receiving any of the recovery in connection with the Settlement of this Action. If you are a member of the Settlement Class and do not request exclusion, you will be bound by the Settlement and any judgment and release entered in the Action, including, but not limited to, the Judgment, whether or not you submit a Proof of Claim.

To exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than August 8, 2018. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by the Settlement entered in the Action even if they do not submit a timely Proof of Claim.

Any objection to the Settlement, the Plan of Allocation, or the fee and expense application must be submitted to the Court in accordance with the instructions set forth in the Notice no later than August 8, 2018. If you object, but also want to be eligible for a payment from the Settlement, you must still submit a Proof of Claim or you will not receive a payment from the Settlement.

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 Lead Counsel at the following addresses:

        ROBBINS GELLER RUDMAN       MOTLEY RICE LLC
& DOWD LLP CHRISTOPHER F. MORIARTY
ELLEN GUSIKOFF STEWART 28 Bridgeside Blvd.
655 West Broadway, Suite 1900 Mount Pleasant, SC 29464
San Diego, CA 92101
DATED: March 20, 2018                       BY ORDER OF THE COURT

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

Contacts

Robbins Geller Rudman & Dowd LLP
Ellen Gusikoff Stewart, 619-231-1058

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