Settled: June 15, 2012
In December 8, 2011, the Honorable Claudia Wilken of the United States District Court for the Northern District of California, Oakland Division, ;granted final approval to a settlement in the amount of $13,500,000 in cash in the class action In re Accuray Inc. Securities Litigation, No. 4:09-CV-03362-CW. A copy of the FInal Judgment and Order, Lead Counsel's Motion for an Award of Attorneys' Fees and Expenses, Lead Plaintiffs' Motion for Final Approval, Proof of Claim, Notice, Preliminary Approval Order, and the Stipulation of Settlement can be accessed by clicking on the links to the left.
Labaton Sucharow is Court-appointed co-lead counsel for lead plaintiffs Zhengxu He and the City of Brockton Retirement System and the settlement class.
The settlement class alleged that Accuray Inc. ("Accuray") and certain individual defendants made materially false or misleading statements to the investing public in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, which had the effect of artificially inflating the price of Accuray's common stock.
If you purchased Accuray common stock between February 7, 2007 and August 19, 2008, inclusive, and were allegedly damaged thereby, you may be eligible to recover if you submit a Proof of Claim form with supporting documents by September 12, 2011.
The deadline for objecting to the settlement or for seeking exclusion from the Class has passed. A settlement fairness hearing was held on September 1, 2011, at 2:00 p.m. before Judge Claudia Wilken at the Oakland Courthouse, 1301 Clay Street, Oakland, California.
A copy of the Revised Order Preliminarily Approving Settlement and Providing for Notice ("Preliminary Approval Order") and the Stipulation of Settlement can be accessed by clicking on the links to the right.