Net Settlement Fund

The Final Approval Hearing will be held on September 28, 2017 at 10:00 a.m. before the Honorable Rudolph Contreras at the United States District Court for the District of Columbia, E. Barrett Prettyman U.S. Courthouse, 333 Constitution Avenue, N.W., Courtroom 14, Washington D.C. 20001, to determine: I. whether the proposed settlement of the Action... on the terms and conditions provided for in the Settlement is fair, reasonable, adequate, and in the best interests of the Class and should be approved by the Court; II. whether a judgment should be entered, as proposed in the Settlement, which, among other things, would dismiss the Action against Defendants with prejudice and release, on behalf of the Class, the Released Claims against the Released Parties (the Judgment); III. whether, for purposes of the Settlement, the Class should be finally certified; whether Lead Plaintiff should be finally appointed as Class Representative for the Class; and whether Lead Counsel should be finally appointed as Class Counsel for the Class; IV. whether the proposed Plan of Allocation is reasonable and should be approved by the Court; and V. whether Lead Counsels request for an award of attorneys fees and reimbursement of Litigation Expenses should be approved by the Court. The Court may change the date and time of the Final Approval Hearing without another notice being sent to Class Members. Please check this website for any updates to the date and time of the Final Approval Hearing. The Complaint in this Action asserts, among other things, that in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the Exchange Act), Defendants misled investors by misrepresenting or concealing the true nature of Harmans personal navigation device (PND) business. In particular, the Complaint asserts that Defendants knowingly or recklessly represented to investors that the Companys PND business was strong and poised for growth when in reality the Companys inventory of PNDs was ballooning and Defendants were unable to ...Read More