NEW YORK, Aug. 29, 2007 LAWFUEL – The Legal Newswire — The Rosen Law Firm PA and Mallory & Friedman, PLLC Announce the Notice of Pendency and Settlement of Class Action Involving StockerYale, Inc. (Nasdaq:STKR):
UNITED STATES DISTRICT COURT DISTRICT OF NEW HAMPSHIRE
Master File No. 1:05cv00177-SM
SUMMARY NOTICE OF PENDENCY AND SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS WHO ACQUIRED ANY COMMON STOCK OF STOCKERYALE, INC.
DURING THE PERIOD FROM APRIL 19, 2004 THROUGH MAY 24, 2005, INCLUSIVE (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 21, 2007, that a hearing will be held on December 18, 2007 at 10:30 a.m.
in Courtroom 2, United States Courthouse, 55 Pleasant Street, Concord, NH 03301-3941 to determine: (1) whether the Class should be certified pursuant to Rule 23 of the Federal Rules of Civil Procedure, consisting of all persons who purchased, otherwise acquired, or sold StockerYale common stock during the period from April 19, 2004 through and including May 24, 2005, excluding the Defendants, any officer or director of Defendants, members of the immediate family of any individual defendant, any entity in which any Defendant has a controlling interest, and the legal representatives, heirs, successors, or assigns of any such excluded party, and any persons who have separately filed actions against one or more of the Defendants based in whole or in part on any claim arising out of or relating to any of the acts, omissions, misrepresentations, facts, events, matters, transactions or occurrences referred to in the Action or otherwise alleged, asserted or contended in the Action; (2) whether the proposed settlement (the “Settlement”) of the above-captioned action (“Action”) for $3,400,000 in cash plus accrued interest (the “Settlement Fund”) should be approved by the Court as fair, reasonable, and adequate; (3) whether the Plan of Allocation is fair, reasonable, and adequate and therefore should be approved; (4)whether the motion of Lead Plaintiffs’ Counsel for an award of attorneys’ fees and reimbursement of expenses should be approved; and
(5) whether the Action should be dismissed with prejudice.
If you purchased any common stock of StockerYale during the period described above, 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 by filing a Proof of Claim and Release form on or before December 3, 2007.
If you do not receive by mail the Notice of Pendency and Settlement of Class Action (“Notice and Settlement”), 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 and by writing to Claims Administrator, StockerYale Securities Litigation, c/o Strategic Claims Services, PO Box 230, Media, PA 19063 or by calling
(866) 274-4004 or by downloading a copy from www.rosenlegal.com.
Inquiries should NOT be directed to StockerYale, the Court, or the Clerk of the Court.
If you desire to be excluded from the Class, you must submit a request for exclusion by October 19, 2007, 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: August 21, 2007
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF NEW HAMPSHIRE