LAWSUITS NEWS & LEGAL INFORMATION
$3M Settlement Proposed in Ormat Technologies Securities Class Action
This is a settlement for the Securities/Stock Fraud lawsuit.
Los Angeles, CA: To all persons who purchased or otherwise acquired Ormat Technologies Inc securities between May 7 2008 and February 24, 2010, inclusive, who incurred damages (the "class"):
You are hereby notified that this Class Action is pending and that a Settlement of it for Three Million One Hundred Thousand Dollars ($3,100,000) has been proposed. A hearing will be held on October 1, 2012, to determine: (i) whether the Settlement and Plan of Allocation should be approved by the Court as fair, reasonable, adequate, and in the best interests of the Class; (ii) whether Co-Lead Counsel's application for an award of attorneys' fees and the reimbursement of expenses should be approved; (iii) whether the Court should grant Lead Plaintiffs reimbursement of their reasonable costs and expenses (including lost wages) directly related to their representation of the Class; and (iv) whether the Court should approve the release of Released Claims against any and all Released Persons and dismiss the Litigation with prejudice.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND.
To participate in the Settlement, you must submit a Proof of Claim no later than September 24, 2012. As more fully described in the Notice, the deadline for submitting objections to the Settlement and requests for exclusions from the Class is September 10, 2012. Further information may be obtained by visiting gcginc.com/cases/ormat .
Published on May-9-12
You are hereby notified that this Class Action is pending and that a Settlement of it for Three Million One Hundred Thousand Dollars ($3,100,000) has been proposed. A hearing will be held on October 1, 2012, to determine: (i) whether the Settlement and Plan of Allocation should be approved by the Court as fair, reasonable, adequate, and in the best interests of the Class; (ii) whether Co-Lead Counsel's application for an award of attorneys' fees and the reimbursement of expenses should be approved; (iii) whether the Court should grant Lead Plaintiffs reimbursement of their reasonable costs and expenses (including lost wages) directly related to their representation of the Class; and (iv) whether the Court should approve the release of Released Claims against any and all Released Persons and dismiss the Litigation with prejudice.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND.
To participate in the Settlement, you must submit a Proof of Claim no later than September 24, 2012. As more fully described in the Notice, the deadline for submitting objections to the Settlement and requests for exclusions from the Class is September 10, 2012. Further information may be obtained by visiting gcginc.com/cases/ormat .
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