NEW YORK, July 10, 2008 (PRIME NEWSWIRE) -- Shepherd, Finkelman, Miller & Shah, LLP Announce the Notice of Pendency and Proposed Settlement of Class Action Involving FARO Technologies, Inc. (Nasdaq:FARO)
IN THE UNITED STATES DISTRICT COURT FOR THE MIDDLE DISTRICT OF FLORIDA
Case No. 6:05-cv-1810-Orl-22DAB
SUMMARY NOTICE
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK AND/OR OTHER PUBLICLY-TRADED SECURITIES OF FARO TECHNOLOGIES ("FARO") BETWEEN APRIL 15, 2004 AND MARCH 15, 2006, INCLUSIVE (THE "CLASS")
YOU ARE HEREBY NOTIFIED, that the above-captioned action has been preliminarily certified as a class action and that a settlement for $6,875,000 in cash has been proposed (the "Settlement"). A hearing will be held before the Honorable Anne C. Conway, United States District Court for the Middle District of Florida, 401 West Central Boulevard, Courtroom 6A, Orlando, Florida at 9:00 a.m., on October 3, 2008, to determine whether the proposed Settlement of this class action and the Plan of Allocation of settlement proceeds should be approved by the Court as fair, reasonable, and adequate, to consider the application of Plaintiffs' Counsel for attorneys' fees and reimbursement of expenses, and to consider the application for reimbursement of expenses of the Lead Plaintiff.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency and Proposed Settlement of Class Action and a Proof of Claim and Release form, you may obtain copies of these documents by calling 866-274-4004 or writing to the Claims Administrator at:
FARO Shareholder Litigation Claims Administrator c/o Strategic Claims Services 600 North Jackson Street, Suite 3 Media, PA 19063
You may also download a claim form from www.strategicclaims.net.
To participate in the Settlement, you must submit a Proof of Claim and Release to the Claims Administrator no later than October 30, 2008. If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Final Judgment of the Court. To exclude yourself from the Class, you must submit a Request for Exclusion postmarked no later than September 12, 2008. If you are a member of the Class and do not submit a Proof of Claim or elect to exclude yourself from the Class, you will not share in the Settlement but you nevertheless will be bound by the final judgment of the Court.
Any objection to the Settlement must be filed with the Court at the address below and served by hand or first class mail on the attorneys listed below on or before September 12, 2008.
Court: CLERK OF THE COURT UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF FLORIDA ORLANDO DIVISION 401 West Central Boulevard Suite 1200 Orlando, FL 32801-0120 Co-Lead Counsel for Plaintiffs: Scott R. Shepherd Shepherd, Finkelman, Miller & Shah, LLP 1640 Town Center Circle Suite 216 Weston, FL 33326 Tel: (954) 943-9191 Fax: (954) 943-9173 Counsel for the Defendants: Jay B. Kasner Skadden, Arps, Slate, Meagher & Flom LLP Four Times Square New York, NY 10036 Tel: (212) 735-3000 Fax: (212) 735-2000
Further information may be obtained by directing your inquiry to the Claims Administrator at the same address and telephone number noted above.
Dated: July 10, 2008 BY ORDER OF THE COURT UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF FLORIDA ORLANDO DIVISION
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca