On July 2, 2010, the Honorable Juan R. Sanchez of the United States District Court for the Eastern District of Pennsylvania granted preliminary approval to the $10 million settlement in the class action In re Herley Industries, Inc. Securities Litigation, No. 06-CV-2596 (E.D. Pa.). 

Labaton Sucharow LLP and Kirby McInerney LLP are the court-appointed Class Counsel for Class Representative Norfolk County Retirement System. Defendants are Herley Industries, Inc. (“Herley”), Lee Blatt, Myron Levy, Anello Garefino, Thomas Gilboy, and John Kelley.

The Class alleged that Herley and certain of its officers and directors misled investors by making certain misrepresentations and omissions in Herley’s public statements, which had the effect of inflating Herley’s stock price.

If you purchased or otherwise acquired the publicly traded Herley securities during the period from October 1, 2001 through June 14, 2006, inclusive, and allegedly sustained a loss as a result of the acquisition, you may be eligible to recover if you submit a Proof of Claim form with supporting documents by November 13, 2010. The deadline for objecting to the settlement is August 30, 2010. The deadline for seeking exclusion from the Class has passed. A Settlement Hearing will be held on September 13, 2010 at 9:00 a.m. before Judge Juan R. Sanchez in Courtroom 8B of the James A. Byrne United States Courthouse, 601 Market Street, Philadelphia, Pennsylvania 19106-1797.

A copy of the Notice of Proposed Class Action Settlement, Notice of Pendency of Class Action, Proof of Claim form, and the Preliminary Approval Order can be accessed by clicking on the links to the left.