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