Oct. 1, 2009 (Business Wire) -- Labaton Sucharow LLP:
UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF GEORGIA
(ATLANTA DIVISION)
| IN RE CBEYOND, INC. | | | | Civil Action No. 1:08-cv-1666 (CC) |
| SECURITIES LITIGATION | | | | |
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION
AND HEARING ON PROPOSED SETTLEMENT
TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR ACQUIRED THE COMMON STOCK OF CBEYOND, INC. DURING THE PERIOD FROM NOVEMBER 1, 2007 THROUGH FEBRUARY 21, 2008, INCLUSIVE (THE “CLASS PERIOD”) AND WERE DAMAGED THEREBY (THE “SETTLEMENT CLASS”).
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the above-captioned action has been certified as a class action for settlement purposes only and that a Settlement for $2.3 million has been proposed by the Parties.1 A hearing will be held before the Honorable Clarence Cooper of the United States District Court for the Northern District of Georgia in the Richard B. Russell Federal Building and Courthouse, 75 Spring Street, SW, Atlanta, GA 30303-3361, at 1:30 p.m., on January 5, 2010, to determine whether the proposed Settlement should be approved by the Court as fair, reasonable and adequate and whether the Settlement Class should be certified and a class representative and class counsel should be appointed and to consider the request of Lead Counsel for attorneys’ fees and reimbursement of litigation expenses. The Court may change the date of the hearing without providing another notice.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement and a Proof of Claim form (“Proof of Claim”), you may obtain copies of these documents by contacting the Claims Administrator:
IN RE CBEYOND, INC. SECURITIES LITIGATION
CLAIMS ADMINISTRATOR
C/O A.B. DATA, LTD.
PO BOX 170500
MILWAUKEE, WI 53217-8042
800-524-0614
www.abdataclassaction.com
Inquiries, other than requests for information about the status of a claim, may be made to Lead Counsel:
Labaton Sucharow LLP
140 Broadway
New York, NY 10005
800-321-0476
www.labaton.com
To participate in the proposed Settlement and be eligible to receive a recovery, you must submit a Proof of Claim postmarked no later than January 11, 2010. To exclude yourself from the Settlement Class, you must submit a request for exclusion postmarked no later than December 22, 2009. If you are a Class Member and do not exclude yourself from the Settlement Class, you will be bound by the Final Order and Judgment of the Court. Any objections to the Settlement must be filed with the Court and served on counsel for the parties on or before December 22, 2009. If you are a Class Member and do not timely submit an acceptable Proof of Claim, you will not share in the Settlement but you nevertheless will be bound by the Final Order and Judgment of the Court.
By Order of the Court
1 All capitalized terms not otherwise defined in this summary notice shall have the meaning provided in the Stipulation and Agreement of Settlement.
