CONCORD, N.H., June 16, 2011 (GLOBE NEWSWIRE) -- Cohen Milstein Sellers & Toll PLLC announces that the United States District Court of New Hampshire approved the following announcement of a proposed class action settlement that could benefit certain purchasers of common stock of GT Solar International, Inc. (Nasdaq:SOLR).
Civil Action No. 1:08-CV-00312-JL
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF GT SOLAR INTERNATIONAL, INC. FROM THE EFFECTIVE DATE OF GT SOLAR INTERNATIONAL, INC.'S IPO REGISTRATION STATEMENT, THROUGH AND INCLUDING JULY 24, 2008, OR WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF GT SOLAR INTERNATIONAL, INC. PURSUANT OR TRACEABLE TO THE IPO REGISTRATION STATEMENT (the "CLASS").
YOU ARE HEREBY NOTIFIED that this Class Action is pending and that a settlement of it for Ten Million Five-Hundred Thousand Dollars ($10,500,000) has been proposed. A hearing will be held before the Honorable Joseph N. Laplante. in the United States District Court for the District of New Hampshire, 55 Pleasant Street, Concord, New Hampshire, 03301, at 10:00 a.m., on September 27, 2011 to determine whether: (1) the proposed settlement should be approved by the Court as fair, reasonable and adequate; (2) Lead Counsel's application for an award of attorneys' fees, reimbursement of expenses, and any case contribution award to Plaintiffs should be approved; and (3) the claims against all Defendants should be dismissed with prejudice.
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 Proposed Settlement of Class Action, Motion for Attorneys' Fees and Reimbursement of Expenses, and Settlement Fairness Hearing (the "Notice") and Proof of Claim and Release form ("Proof of Claim") you may obtain copies of these documents by contacting:
Inquiries, other than requests for the forms of Notice and Proof of Claim, may be made to Lead Counsel:
To participate in the Settlement, you must submit a Proof of Claim no later than November 9, 2011. As more fully described in the Notice, the deadline for submitting objections to the Settlement and requests for exclusions from the Class is September 13, 2011; they must be received by this date.
Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, Strategic Claims Services, at the address listed above. Please do not contact the Court.
BY ORDER OF THE COURT.
CONTACT: Strategic Claims Services (610) 565-9202 Fax: (610) 565-7985 600 N. Jackson Street, Suite 3 Media, PA 19063