NEW YORK, Aug. 29, 2007 (PRIME NEWSWIRE) -- The Rosen Law Firm PA and Mallory & Friedman, PLLC Announce the Notice of Pendency and Settlement of Class Action Involving StockerYale, Inc. (Nasdaq:STKR):
UNITED STATES DISTRICT COURT DISTRICT OF NEW HAMPSHIRE
Master File No. 1:05cv00177-SM
SUMMARY NOTICE OF PENDENCY AND SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS WHO ACQUIRED ANY COMMON STOCK OF STOCKERYALE, INC.
DURING THE PERIOD FROM APRIL 19, 2004 THROUGH MAY 24, 2005, INCLUSIVE
(THE "CLASS")
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of
Civil Procedure and an Order of the above Court dated August 21,
2007, that a hearing will be held on December 18, 2007 at 10:30 a.m.
in Courtroom 2, United States Courthouse, 55 Pleasant Street,
Concord, NH 03301-3941 to determine: (1) whether the Class should be
certified pursuant to Rule 23 of the Federal Rules of Civil
Procedure, consisting of all persons who purchased, otherwise
acquired, or sold StockerYale common stock during the period from
April 19, 2004 through and including May 24, 2005, excluding the
Defendants, any officer or director of Defendants, members of the
immediate family of any individual defendant, any entity in which any
Defendant has a controlling interest, and the legal representatives,
heirs, successors, or assigns of any such excluded party, and any
persons who have separately filed actions against one or more of the
Defendants based in whole or in part on any claim arising out of or
relating to any of the acts, omissions, misrepresentations, facts,
events, matters, transactions or occurrences referred to in the
Action or otherwise alleged, asserted or contended in the Action; (2)
whether the proposed settlement (the "Settlement") of the
above-captioned action ("Action") for $3,400,000 in cash plus accrued
interest (the "Settlement Fund") should be approved by the Court as
fair, reasonable, and adequate; (3) whether the Plan of Allocation is
fair, reasonable, and adequate and therefore should be approved;
(4)whether the motion of Lead Plaintiffs' Counsel for an award of
attorneys' fees and reimbursement of expenses should be approved; and
(5) whether the Action should be dismissed with prejudice.
If you purchased any common stock of StockerYale during the period
described above, your rights may be affected by the settlement of
this Action. To share in the distribution of the Settlement Fund, you
must establish your rights by filing a Proof of Claim and Release
form on or before December 3, 2007.
If you do not receive by mail the Notice of Pendency and Settlement
of Class Action ("Notice and Settlement"), which more completely
describes the Settlement and your rights thereunder, and a Proof of
Claim and Release form, you may obtain copies of these documents by
identifying yourself as a member of the Class and by writing to
Claims Administrator, StockerYale Securities Litigation, c/o
Strategic Claims Services, PO Box 230, Media, PA 19063 or by calling
(866) 274-4004 or by downloading a copy from www.rosenlegal.com.
Inquiries should NOT be directed to StockerYale, the Court, or the
Clerk of the Court.
If you desire to be excluded from the Class, you must submit a
request for exclusion by October 19, 2007, in the manner and form
explained in the Notice. All members of the Class who have not
requested exclusion from the Class will be bound by the Settlement
and any judgment and release entered in the Action, even if they do
not file a timely Proof of Claim and Release form.
Dated: August 21, 2007
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF NEW HAMPSHIRE