On December 3, 2015, the Honorable James C. Cacheris granted final approval to a class action settlement with Neustar, Inc. (Neustar) and the individual defendants in the amount of $2.625 million in cash in the class action In re Neustar, Inc. Securities Litigation, No. 14-cv-00885 JCC TRJ (E.D. Va.).
Labaton Keller Sucharow was the court-appointed lead counsel for lead plaintiff the Indiana Public Retirement System and the settlement class.
"Class Counsel’s skill and quality permitted it to achieve this fair and reasonable result for the class, despite the substantial adversarial and legal barriers it faced in this suit." - The Honorable James C. Cacheris
The complaint filed by lead plaintiff alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the Exchange Act) and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission (SEC). The complaint alleged, among other things, that the defendants made false and misleading statements regarding Neustar’s competitive standing in the LNPA bidding and selection process and the risk that Neustar, after 17 years as the sole LNPA, would lose the NPAC contracts to a competitor.
The deadline for objecting to the settlement or for seeking exclusion from the settlement class has passed.
Settlement Hearing
A settlement hearing was held on December 3, 2015 at 10:00 am, before Judge Cacheris in Courtroom 1000 of the Albert V. Bryan U.S. Courthouse, 401 Courthouse Square, Alexandria, Virginia 22314.
If you have questions about the settlement, please contact Labaton Keller Sucharow at settlementquestions@labaton.com or 1-888-219-6877, or the Claims Administrator, A.B. Data, at info@neustarsecuritiessettlement.com or 1-866-893-1052.
