NEW ORLEANS, July 29 /PR Newswire/ -- The following release was issued today by Kahn Swick & Foti, LLC:
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
OAKLAND DIVISION
In re BIGBAND NETWORKS, INC. (NASDAQ Ticker Symbol: BBND) SECURITIES LITIGATION
TO: ALL PERSONS WHO PURCHASED THE PUBLICLY-TRADED COMMON STOCK OF BIGBAND NETWORKS, INC. ("BIGBAND") (TICKER SYMBOL NASDAQ: BBND) FROM MARCH 15, 2007 TO OCTOBER 30, 2007, INCLUSIVE.
This is a second summary notice regarding this case. The first notice was issued on June 11, 2009. YOU ARE HEREBY NOTIFIED, pursuant to an order of the United States District Court for the Northern District of California, that a hearing will be held on September 15, 2009 at 1:00 p.m. before the Honorable Saundra B. Armstrong at the United States Courthouse, 1301 Clay Street, Courtroom 3, Oakland, CA 94612, for the purpose of determining: (1) whether the proposed settlement for the sum of $11,000,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether, after the hearing, this Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated as of April 6, 2009; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Co-Lead Counsel for the payment of attorneys' fees and reimbursement of expenses incurred in this Litigation should be approved.
If you purchased the publicly-traded common stock of BigBand from March 15, 2007 to October 30, 2007, inclusive, your rights may be affected by the settlement of this Litigation. If you have not received a detailed Notice of Pendency of Class Action and Proposed Settlement With All Defendants, Motion for Attorneys' Fees, and Settlement Hearing ("Notice") and a copy of the Proof of Claim and Release form ("Claim Form"), you should obtain copies by writing to A.B. Data, Ltd., at BigBand Networks, Inc. Securities Litigation, Claims Administrator, c/o A.B. Data, Ltd., PO Box 170500, Milwaukee, WI 53217-8042, or by visiting the case website at www.BigBandSecuritiesLitigation.com. The Notice contains details about this Litigation and settlement, including what you must do to exclude yourself from the settlement, object to the terms of the settlement, or file a Claim Form. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked no later than September 25, 2009 establishing that you are entitled to recovery.
If you desire to be excluded from the Class, you must submit a request for exclusion postmarked by August 18, 2009 in the manner and form explained in the detailed Notice referred to above.
