NEW YORK, Aug. 12, 2020 /PRNewswire/ --
SUPERIOR COURT OF THE STATE OF CALIFORNIA
COUNTY OF LOS
ANGELES
IN RE MRV
COMMUNICATIONS, INC.
STOCKHOLDER
LITIGATION
____________________________________
|
Lead Case No.
BC669601
Assigned For All
Purposes To The
Honorable Yvette M.
Palazuelos
Date Action Filed:
July 21, 2017
Department
9
|
This Document Relates
to:
|
ALL
ACTIONS
|
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS
ACTION
TO: ALL HOLDERS OF MRV COMMUNICATIONS, INC. COMMON STOCK WHO
RECEIVED CONSIDERATION FOR THEIR SHARES IN THE SALE OF MRV
COMMUNICATIONS, INC. ("MRV") TO ADVA NA HOLDINGS, INC. ("ADVA") AT
THE PRICE OF $10.00 PER SHARE ("THE
MERGER"), AS FIRST ANNOUNCED ON JULY 2,
2017 (THE "CLASS"). A SHAREHOLDER CLASS ACTION
COMPLAINT CONCERNING THE MERGER SETTLED. YOU MAY BE ENTITLED
TO COMPENSATION AS A RESULT OF THE SETTLEMENT IN THE ACTION
CAPTIONED:
IN RE MRV COMMUNICATIONS, INC. STOCKHOLDER LITIGATION,
Lead Case No. BC669601
YOU ARE HEREBY NOTIFIED, pursuant to California Code of Civil
Procedure Section 382 and an Order of the Court, that a Settlement
for $1,900,000 has been proposed in
the above-captioned action. Under the proposed Settlement,
the Settlement amount, minus any Court-approved attorneys' fees,
service awards, expenses, and administrative costs, will be
distributed on a per share basis to Class Members (as certified by
the Court on March 7, 2019 and
defined in the Third Amended Stipulation of Settlement dated
March 16, 2020 ("Stipulation"))[1]
who owned shares of MRV common stock immediately prior to the time
the Merger became effective (or who tendered their shares in the
tender offer that expired on August 11,
2017) and who received consideration for their shares in the
sale of MRV to ADVA at the price of $10.00 per share. A hearing will be held
before the Honorable Yvette M. Palazuelos at the Superior Court of
California, County of Los Angeles,
Spring Street Courthouse, 312 North Spring Street, Dept. 9,
Los Angeles, CA 90012, at
10:00 a.m. on November 20, 2020 to determine whether the
proposed Settlement should be approved by the Court as fair,
reasonable, and adequate, and to consider the application of
Plaintiff's Counsel for attorneys' fees and reimbursement of
expenses and a service award for the Lead Plaintiff.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS
WILL BE AFFECTED. IF THE COURT APPROVES THE PROPOSED
SETTLEMENT, YOU WILL BE FOREVER BARRED FROM PURSUING THE RELEASED
CLAIMS. You may obtain copies of the Stipulation, a detailed
Notice of Proposed Settlement (the "Notice"), and instructions
concerning your right to seek payment from the Settlement Fund, to
appear and object to the proposed settlement or award of attorneys'
fees or to exclude yourself from the Class by visiting the website
www.rg2claims.com/mrv.html or contacting Plaintiff's
Counsel:
WeissLaw LLP
Attn: Richard A.
Acocelli
1500 Broadway, 16th Floor,
New York, NY 10036
(212) 682-3025
Monteverde & Associates PC
Attn: Juan E.
Monteverde
The Empire State Building
350 Fifth Avenue, Suite 4405
New York, NY 10118
(212) 971-1341
As described more fully in the Notice, you need not file a
written objection in order to object and may appear personally or
remotely to make an oral objection. In the event there is a
written objection it shall be filed with the Court and served upon
Plaintiff's Counsel above such that they are received no later than
ninety (90) calendar days from when Notice is first mailed out, or
no later than November 10,
2020. To appear remotely you must sign up using the following
link: https://www.lacourt.org/lacc/
If you want to seek a payment from the Settlement Fund, you must
complete and submit a timely Proof of Claim, which may be
downloaded at www.rg2claims.com/mrv.html. Read the
instructions carefully, fill out the Proof of Claim, include all
the documents the form asks for, sign it, and mail or submit it
online so that it is postmarked (if mailed) or
received (if filed electronically) no later than
November 10, 2020.
If you want to seek exclusion from the Class, you do need to
make request in writing no later than ninety (90) calendar days
from when Notice is first mailed out, or no later than November 10, 2020. If you do not submit a
valid and timely request for exclusion, any claims you may have
over the Merger will be released if the Settlement is approved, and
you will not be permitted to sue Defendants or any of the other
Released Parties in connection with the Merger.
Further information may be obtained by contacting the
Plaintiff's Counsel listed above. If you wish to see the
court fillings in Court, you must make an appointment to view
documents at the Office of the Clerk at (213) 745-3200.
PLEASE DO NOT CALL THE
COURT.
By Order of The Court
[1] The Stipulation and all of its Exhibits, along with other
documents relevant to the prosecution and resolution of this
Litigation, can be viewed at www.rg2claims.com/mrv.html. All
capitalized terms used herein have the same meanings as the terms
defined in the Stipulation.
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SOURCE WeissLaw LLP