NEW YORK, Sept. 18, 2006 (PRIMEZONE) -- The Rosen Law Firm PA and Jacob A. Goldberg, Esq. announce that a Settlement Fairness Hearing will be held on November 21, 2006.
IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA
MADDEN, ET AL. V. PAGON, ET AL.
CASE NO. 2:05-CV-05868-AB
SUMMARY NOTICE OF PENDENCY AND SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS WHO ACQUIRED ANY COMMON OR PREFERRED STOCK OF PEGASUS COMMUNICATIONS CORPORATION OR ANY OF ITS SUBSIDIARIES (WHETHER DIRECT OR INDIRECT) DURING THE PERIOD FROM NOVEMBER 8, 2000 THROUGH JUNE 2, 2004, AND WERE DAMAGED THEREBY (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 24, 2006, that a hearing will be held on November 21, 2006 at 9:30 a.m. in Courtroom 7-B, United States Courthouse, 601 Market Street, Philadelphia, PA 19106-1797 to determine (1) whether the proposed settlement (the "Settlement") of the above-captioned action ("Action") for $2,950,000 in cash plus accrued interest (the "Settlement Fund") should be approved by the Court as fair, reasonable, and adequate; (2) whether the motion of Lead Plaintiffs' Counsel for an award of attorneys' fees and reimbursement of expenses should be approved; and (3) whether the Action should be dismissed with prejudice.
If You Acquired Any Common or Preferred Stock of Pegasus or Any of Its Subsidiaries (whether direct or indirect) 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 13, 2006.
If you have not yet received 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, Pegasus Communications Securities Litigation, c/o Strategic Claims Services, PO Box 2463, Aston, PA 19014 or by calling (866) 274-4004 or by downloading a copy from www.rosenlegal.com. Inquiries should NOT be directed to Pegasus, 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 12, 2006, 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 24, 2006
By Order of the United States District Court for the Eastern District of Pennsylvania
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca