The law firms of Berman DeValerio and Wolf Popper LLP, interim co-lead counsel for plaintiffs in In re OpenTV Shareholder Litigation (the "OpenTV Shareholder Litigation"), Master Case No. C-09-04896, which is pending in the United States District Court for the Northern District of California, issue the following statement:
To all persons who held Class A Common Stock of OpenTV Corp. during the period from and including October 5, 2009, through and including November 25, 2009: you are hereby notified that the OpenTV Shareholder Litigation has preliminarily been certified as a class action and that a settlement has been reached. Pursuant to an Order of the United States District Court for the Northern District of California, a Final Settlement Hearing will be held on November 15, 2010, at 2:00 p.m., at the United States District Court for the Northern District of California, located at 450 Golden Gate Avenue, San Francisco CA 94102, in Courtroom 15 before the Honorable Marilyn Hall Patel. During the Final Settlement Hearing, the Court will (a) determine whether to approve the settlement as fair, reasonable and adequate and in the best interests of the Class, (b) consider whether provisional certification of the Class should be made permanent, for purposes of settlement, and whether Plaintiff Charles Michael Foley in the Consolidated Action should be designated as class representative and Plaintiffs' Interim Co-Lead Counsel as class counsel; (c) determine whether final judgment should be entered dismissing the Consolidated Action as to all Defendants with prejudice as against Plaintiffs and the Class, releasing the Settled Claims as to all Released Persons, and barring and enjoining prosecution of any and all Settled Claims (as provided in the Stipulation of Settlement) and (d) consider other matters, including a request by Plaintiffs' Counsel for attorneys' fees and reimbursement of expenses and an incentive award to Plaintiff Foley.
If you are a member of the Class, your rights may be affected by this Settlement. A copy of a detailed Notice of Proposed Settlement of Class Action and Settlement Hearing (the "Notice") and a copy of the Stipulation and Agreement of Compromise, Settlement and Release are both available on OpenTV's website: www.opentv.com. The Notice more fully describes the case and the Settlement and your rights thereunder.
Any objection to the matters to be determined at the Final Settlement Hearing must be filed with the Court and delivered to counsel for the parties, postmarked no later than November 1, 2010 in the manner set forth in the Notice.
Inquiries may be made to plaintiffs' co-lead counsel: Carl L. Stine of Wolf Popper LLP, 845 Third Avenue, New York, New York 10022, or Christopher T. Heffelfinger of Berman DeValerio, One California St., Suite 900, San Francisco, CA 94111.
Please do not write or telephone the Court or the Judge for information or advice about this Notice or the Settlement.
Contacts:
Wolf Popper LLP
Carl L. Stine, 212-759-4600
or
Berman
DeValerio
Christopher T. Heffelfinger, 415-433-3200
