PHILADELPHIA, Sept. 9 /PRNewswire/ -- The following was released today by Berger & Montague, P.C. (http://www.bergermontague.com)/ UNITED STATES DISTRICT COURT FOR THE MIDDLE DISTRICT OF FLORIDA TAMPA DIVISION
IN RE AEROSONIC CORPORATION SECURITIES LITIGATION C.A. NO. 8:03-CV-2373-T-24 TBM
SUMMARY NOTICE OF PENDENCY AND SETTLEMENT OF CLASS ACTION TO: ALL PERSONS AND ENTITIES WHO PURCHASED AEROSONIC CORP. (AMEX:AIM) COMMON STOCK ON THE OPEN MARKET BETWEEN THE PERIOD NOVEMBER 13, 1998 THROUGH SEPTEMBER 24, 2003, INCLUSIVE, AND WERE DAMAGED THEREBY (THE "CLASS").
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the above Court dated August 9, 2005, that a hearing will be held on November 18, 2005 at 1:30 p.m. in Courtroom 14A, Sam M. Gibbons U.S. Courthouse, 801 North Florida Avenue, Tampa, FL 33602 to determine: (1) whether to certify the above-captioned action ("Action") as a class action and appoint Class Representatives and their counsel to represent Class Members; (2) whether the proposed settlement (the "Settlement") of the above-captioned action ("Action") for $5,350,000 in cash plus accrued interest (the "Settlement Fund") should be approved by the Court as fair, reasonable, and adequate; (3) whether to approve a plan to allocate the available Settlement Fund among Class Members who submit timely and valid claims; (4) whether the motion of Lead Plaintiffs' Counsel for an award of attorneys' fees and reimbursement of costs and expenses and for an award to Lead Plaintiffs for costs and expenses should be approved; and (5) whether the Action should be dismissed with prejudice and claims, including claims asserted in this Action, derivative claims, and other claims, should be released and barred, as to and between all of the defendants and related persons and entities.
If You Purchased Aerosonic Common Stock on the Open Market During the Period Described Above, or Are a Shareholder of Aerosonic as of August 16, 2005, Your Rights May Be Affected by the Settlement of this Action. To share in the distribution of the Settlement Fund, you must establish your rights as a Class Member by filing a Proof of Claim and Release form on or before December 31, 2005. If you are a Class Member and do not submit a proper Proof of Claim, you will not share in the settlement but you nevertheless will be bound by the Order and Final Judgment of the Court.
If you have not yet received the Notice of Pendency and Settlement of Class Action, which more completely describes the Settlement and your rights thereunder, and a Proof of Claim and Release form, you may obtain copies of these documents by identifying yourself as a Member of the Class or as a shareholder of Aerosonic as of August 16, 2005 and by writing to Claims Administrator, Aerosonic Corp. Securities Litigation, Heffler, Radetich & Saitta L.L.P., P.O. Box 58249, Philadelphia, PA 19102-8249 or by calling 800- 768-8450 toll free or by downloading a copy from http://www.hrsclaimsadministration.com/. Inquiries should NOT be directed to the Court, or the Clerk of the Court.
If you have any questions regarding this Action, you may contact Plaintiffs' Counsel: Merrill G. Davidoff/Lane L. Vines, Berger & Montague, P.C., 1622 Locust Street, Philadelphia, PA 19103, (800) 424-6690 or (215) 875-3000.
If you are a Member of the Class and desire to be excluded from the Class, you must submit a request for exclusion by November 4, 2005, in the manner and form explained in the Notice. All Members of the Class who have not requested exclusion from the Class will be bound by the Settlement and any judgment and release entered in the Action, even if they do not file a timely Proof of Claim and Release form.
Dated: September 9, 2005 BY ORDER OF THE UNITED STATES DISTRICT COURT
FOR THE MIDDLE DISTRICT OF FLORIDA
DATASOURCE: Berger & Montague, P.C.
CONTACT: Merrill G. Davidoff, Esq. or Lane L. Vines, Esq., of Berger & Montague, P.C., +1-215-875-3000 Web site: http://www.bergermontague.com/
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