Robbins Geller Rudman & Dowd LLP Announces Notice of Hearing to Determine Approval of Proposed Settlement of Class Action

  Robbins Geller Rudman & Dowd LLP Announces Notice of Hearing to Determine
  Approval of Proposed Settlement of Class Action

Business Wire

SAN DIEGO -- April 11, 2013

The following is being issued by Robbins Geller Rudman & Dowd LLP pursuant to
an order of the United States District Court for the Southern District of New
York:

                                         
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
                                  
PANTHER PARTNERS INC., On Behalf       x       Civil Action No.
of                                             06-cv-12967(PAC)
Itself and All Others Similarly        :       (Consolidated)
Situated,
Plaintiff,                             :
vs.                                    :       CLASS ACTION
IKANOS COMMUNICATIONS, INC., et        :
al.,
Defendants.                           x       SUMMARY NOTICE
                                               

TO: ALL PERSONS WHO PURCHASED THE COMMON STOCK OF IKANOS COMMUNICATIONS, INC.
(“IKANOS” OR THE “COMPANY”) IN THE COMPANY’S SECONDARY OFFERING OF COMMON
STOCK ON OR ABOUT MARCH 17, 2006 (THE “OFFERING”)

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States
District Court for the Southern District of New York, a hearing will be held
on July 8, 2013, at 4:00 p.m., before the Honorable Paul A. Crotty, at the
Daniel Patrick Moynihan United States Courthouse, Courtroom 11D, 500 Pearl
Street, New York, NY 10007, for the purpose of determining (1) whether the
proposed settlement of the Action for the sum of Five Million Dollars
($5,000,000.00) in cash should be approved by the Court as fair, reasonable,
and adequate; (2) whether, thereafter, this Action should be dismissed with
prejudice against Defendants as set forth in the Settlement Agreement dated
February 27, 2013; (3) whether the Plan of Distribution of settlement proceeds
is fair, reasonable, and adequate and therefore should be approved; and (4)
the reasonableness of the application of Lead Counsel for the payment of
attorneys’ fees and expenses incurred in connection with this Action, together
with interest thereon.

If you purchased Ikanos common stock in the Offering, your rights may be
affected by this Action and the settlement thereof. If you have not received a
detailed Notice of Pendency and Proposed Settlement of Class Action and a copy
of the Proof of Claim and Release form, you may obtain copies by writing to
Ikanos Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC,
P.O. Box 990, Corte Madera, CA 94976-0990, or by downloading this information
at www.gilardi.com. If you are a Class Member, in order to share in the
distribution of the Net Settlement Fund, you must submit a Proof of Claim and
Release postmarked no later than July 8, 2013, establishing that you are
entitled to a recovery. You will be bound by any judgment rendered in the
Action unless you request to be excluded, in writing, to the above address,
postmarked by June 3, 2013.

Any objection to any aspect of the settlement must be filed with the Clerk of
the Court no later than June 3, 2013, and received by the following no later
than June 3, 2013:

                            ROBBINS GELLER RUDMAN
                                  & DOWD LLP
                               SAMUEL H. RUDMAN
                              DAVID A. ROSENFELD
                       58 South Service Road, Suite 200
                              Melville, NY 11747

                            ROBBINS GELLER RUDMAN
                                  & DOWD LLP
                               HELEN J. HODGES
                        655 West Broadway, Suite 1900
                             San Diego, CA 92101

                          Counsel for Lead Plaintiff

                                     and

                              ORRICK, HERRINGTON
                               & SUTCLIFFE LLP
                               JAMES N. KRAMER
                              405 Howard Street
                           San Francisco, CA 94105

                        PAUL, WEISS, RIFKIND, WHARTON
                                & GARRISON LLP
                                DANIEL J. TOAL
                         1285 Avenue of the Americas
                              New York, NY 10019

                            Counsel for Defendants

                       PLEASE DO NOT CONTACT THE COURT
                 OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

DATED: March 25, 2013

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

Contact:

Robbins Geller Rudman & Dowd LLP
David Rosenfeld, 800-449-4900
 
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