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Robbins Geller Rudman & Dowd LLP and Bernstein Litowitz Berger & Grossmann LLP Announce a Proposed Settlement of In re Quality Systems, Inc. Securities Litigation

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Robbins Geller Rudman & Dowd LLP and Bernstein Litowitz Berger & Grossmann LLP Announce a Proposed Settlement of In re Quality Systems, Inc. Securities Litigation

PR Newswire

SANTA ANA, Calif., Aug. 14, 2018 /PRNewswire/ --

UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
SOUTHERN DIVISION

 

In re QUALITY SYSTEMS, INC.
SECURITIES LITIGATION

No. 8:13-cv-01818-CJC-JPR


SUMMARY NOTICE OF (I) PENDENCY
OF CLASS ACTION AND PROPOSED
SETTLEMENT; (II) SETTLEMENT
HEARING; AND (III) MOTION FOR
ATTORNEYS' FEES AND EXPENSES


This Document Relates To:


ALL ACTIONS.


IF YOU PURCHASED OR ACQUIRED QUALITY SYSTEMS, INC. ("QSI") COMMON STOCK FROM MAY 26, 2011, THROUGH AND INCLUDING JULY 25, 2012, AND WERE DAMAGED THEREBY (THE "CLASS"), YOU COULD RECEIVE A PAYMENT FROM A CLASS ACTION SETTLEMENT. CERTAIN PERSONS ARE EXCLUDED FROM THE DEFINITION OF THE CLASS AS SET FORTH IN THE STIPULATION OF SETTLEMENT.

PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and Order of the United States District Court for the Central District of California, Southern Division, that the above-captioned litigation (the "Litigation") has been certified as a class action for the purposes of settlement only and that a Settlement has been proposed for $19,000,000 in cash. A hearing will be held on November 19, 2018, at 1:30 p.m., before the Honorable Cormac J. Carney at the Ronald Reagan Federal Building and U.S. Courthouse, 411 West Fourth Street, Courtroom 9B, Santa Ana, CA 92701, for the purpose of determining whether: (1) the proposed Settlement should be approved by the Court as fair, reasonable and adequate; (2) the proposed Plan of Allocation for distribution of the Settlement proceeds is fair, reasonable and adequate and therefore should be approved; and (3) the application of Lead Plaintiffs' counsel for the payment of attorneys' fees of no more than 25% of the Settlement Amount (up to $4,750,000) and payment of expenses of no more than $300,000 from the Settlement Fund, including interest earned thereon, should be approved.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THE LITIGATION, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not received a detailed Notice of (I) Pendency of Class Action and Proposed Settlement; (Ii) Settlement Hearing; and (Iii) Motion for Attorneys' Fees and Expenses (the "Notice") and a copy of the Proof of Claim and Release, you may obtain a copy of these documents by contacting the Claims Administrator: QSI Securities Settlement, c/o A.B. Data, Ltd., P.O. Box 173037, Milwaukee, WI 53217, 1-866-963-9980. You may also obtain copies of the Stipulation of Settlement, Notice and Proof of Claim and Release at www.QSISecuritiesSettlement.com.

If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail postmarked no later than December 12, 2018, or submit it online by that date. If you are a Class Member and do not submit a valid Proof of Claim and Release, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will still be bound by any judgment entered by the Court in this Litigation (including the releases provided for therein).

To exclude yourself from the Class, you must submit a written request for exclusion so that is received by October 29, 2018, in accordance with the instructions set forth in the Notice. If you are a Class Member and do not exclude yourself from the Class, you will be bound by any judgment entered by the Court in this Litigation (including the releases provided for therein) whether or not you submit a Proof of Claim and Release. If you submit a written request for exclusion, you will have no right to recover money pursuant to the Settlement.

Any objection to the proposed Settlement, the Plan of Allocation of Settlement proceeds, or the fee and expenses application must be filed with the Court and delivered such that it is received by each of the following no later than October 29, 2018:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
Ronald Reagan Federal Building & U.S. Courthouse
411 West Fourth Street
Santa Ana, CA  92701

Co-Lead Counsel:
ROBBINS GELLER RUDMAN & DOWD LLP
ROBERT R. HENSSLER JR.
655 West Broadway, Suite 1900
San Diego, CA  92101

Co-Lead Counsel:
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
BENJAMIN GALDSTON
12481 High Bluff Drive, Suite 300
San Diego, CA  92130

Defense Counsel:
LATHAM & WATKINS LLP
PETER A. WALD
505 Montgomery Street, Suite 2000
San Francisco, CA  94111

PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE. If you have any questions about the Settlement, or your eligibility to participate in the Settlement, you may contact Lead Counsel at the addresses listed above or by calling 1-800-449-4900 or 1-800-380-8496.

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
SOUTHERN DIVISION

 

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SOURCE Robbins Geller Rudman & Dowd LLP and Bernstein Litowitz Berger & Grossmann LLP

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