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Harwood Feffer LLP Announces the Proposed Settlement of the Class Action Litigation Against Conexant Systems, Inc., et al.

Posted : Mon, 06 Jul 2009 10:01:33 GMT
Author : Harwood Feffer LLP
Category : Press Release
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NEW YORK - (Business Wire) Harwood Feffer LLP, representing the Plaintiff in the lawsuit, Graden v. Conexant Systems, Inc., et al., 2:05-cv-00695 (SRC) in the United States District Court, District of New Jersey, announces the proposed Settlement of this class action and the Settlement Fairness Hearing. The Settlement Class is defined as: All Persons who have been Participants in the Conexant Systems, Inc. Retirement Savings Plan and Investment Plan at any time between March 1, 2004 to May 15, 2009, inclusive, whose Plan accounts acquired interests in investments in Conexant common stock; and, their beneficiaries, alternate payees, representatives and successors-in-interest. Not included are any of the Defendants, Defendants’ immediate families, any subsidiary, affiliate, or control Person of such Person or entity, officers and directors of Conexant and the legal representatives, heirs, successors, or assigns of each such excluded party.

A Settlement Fairness Hearing will be held before the Honorable Stanley R. Chesler, in the United States District Court for the District of New Jersey (the “Court”), 50 Walnut Street, Newark, New Jersey 07101, at 1:30 p.m., on Friday, September 11, 2009 to determine whether: (1) the proposed Settlement of this Action should be approved as fair, reasonable, and adequate and whether the claims against Defendants should be dismissed with prejudice; (2) the Plan of Allocation is fair and reasonable and should be approved; and (3) Plaintiff’s application for an award of attorneys’ fees and reimbursement of expenses from a Settlement Fund of $3,250,000, after payment of the costs of Settlement Class Notices and Case Contribution Awards, should be approved.

If you are a member of the Settlement Class, your rights may be affected by the settlement of this action. If you are a member of the Settlement Class and have not received the detailed Notice of Class Action Settlement and Fairness Hearing (the “Notice”), you may obtain copies by contacting the Settlement Administrator at: Conexant ERISA Litigation, c/o Berdon Claims Administration LLC, P.O. Box 9014, Jericho, NY 11753-8914, toll-free phone: (800) 766-3330, fax: (516) 931-0810, website: www.berdonclaims.com.

Any objections to the proposed Settlement or any matter before the Court must be filed and served no later than August 28, 2009, in the manner and form explained in the detailed Notice.

Any inquiries about the Action can also be made in writing to Plaintiff’s Counsel, Robert I. Harwood and Jeffrey M. Norton, Harwood Feffer LLP, 488 Madison Avenue, New York, NY 10022.

Do not telephone the Court, the Clerk’s Office or any of the Defendants or Counsel for the Defendants regarding this Notice.

Berdon Claims Administration LLC
800-766-3330
www.berdonclaims.com


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