On September 14, 2011, the Honorable Richard J. Sullivan of the United States District Court for the Southern District of New York, granted final approval to a settlement in the amount of $2 million in cash in the class action In re DG Fastchannel, Inc. Securities Litigation, No. 10 Civ 6523 (RJS).
Labaton Sucharow is Court-appointed lead counsel for lead plaintiff the Norfolk County Retirement System and the class.
The class alleged that DG Fastchannel, Inc. ("DG") and certain individual defendants made materially false or misleading statements to the investing public regarding DG's advertisement delivery sales in the third quarter of 2010 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 DG's publicly traded securities.
If you purchased or otherwise acquired the publicly traded securities of DG during the period from February 16, 2010 through and including August 29, 2010, and were allegedly damaged thereby, you may be eligible to recover if you submitted a Proof of Claim form with supporting documents by October 24, 2011.
The deadline for objecting to the settlement or for seeking exclusion from the class has passed. A settlement hearing was held on September 13, 2011 at 3:30 p.m. before Judge Richard J. Sullivan at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 21C, New York, NY 10007-1312.
A copy of the Preliminary Approval Order Providing for Notice and Hearing in Connection with Proposed Class Action Settlement ("Preliminary Approval Order"), the Notice of Pendency of Class Action and Proposed Settlement and the Proof of Claim form can be accessed by clicking on the links to the right.