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The Weiser Law Firm, P.C. Announces A Proposed Settlement

October 31, 2016

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The Weiser Law Firm, P.C. announces a proposed second partial class action settlement that would benefit purchasers of common stock of Velti plc.

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION WITH REMAINING DEFENDANTS

TO:
 
ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE SECURITIES OF VELTI PLC (“SHARES”) BETWEEN JANUARY 27, 2011 AND AUGUST 20, 2013, INCLUSIVE.


YOU ARE HEREBY NOTIFIED that a second partial settlement has been reached in the above-referenced matter. Pursuant to an Order of the United States District Court for the Northern District of California, a hearing will be held on February 8, 2017, at 2:00 p.m., before the Honorable William H. Orrick, United States District Judge, at the San Francisco Courthouse of the United States District Court for the Northern District of California, 450 Golden Gate Avenue, Courtroom 2, San Francisco, CA, for the purpose of determining: (1) whether the Court should certify the Settlement Class for purposes of the Settlement pursuant to Federal Rule of Civil Procedure 23; (2) whether the Settlement of the Action consisting of Seven Hundred Fifty Thousand Dollars ($750,000.00) in cash plus accrued interest on the Settlement Fund should be approved as fair, reasonable, and adequate; (3) whether, thereafter, this Action should be dismissed with prejudice against the Released Defendants as set forth in the Settlement Agreement dated July 28, 2016; (4) whether the Amended Plan of Distribution (which revises and supersedes the Plan of Distribution approved by the Court in the Partial Settlement and will be effective in both the Partial Settlement and this Settlement, pending Court approval of settlement proceeds) is fair, reasonable, and adequate and therefore should be approved; (5) the reasonableness of the application of Lead Counsel for the payment of attorneys’ fees and expenses in connection with this Action, together with interest thereon, which will be subtracted from the Settlement Fund prior to distribution of any award to the Class Members; and (6) such other matters as the Court may deem appropriate.


IF YOU HAVE ALREADY SUBMITTED A VALID AND TIMELY PROOF OF CLAIM PURSUANT TO THE EARLIER ANNOUNCED PARTIAL SETTLEMENT OF THIS ACTION, NO FURTHER STEPS ARE REQUIRED. IF YOU DID NOT SUBMIT A PROOF OF CLAIM FOR THE PARTIAL SETTLEMENT, BUT YOU DO SUBMIT A PROOF OF CLAIM FOR THIS SETTLEMENT, YOUR PROOF OF CLAIM SUBMITTED FOR THIS SETTLEMENT WILL BE USED FOR THE PARTIAL SETTLEMENT AS WELL AS THIS SETTLEMENT.


IF YOU PURCHASED VELTI SHARES, YOUR RIGHTS MAY BE AFFECTED BY THIS ACTION AND THE SETTLEMENT THEREOF, WHETHER OR NOT YOU TAKE ANY ACTION. You may view and print a copy of the Full Notice of Pendency and Proposed Settlement of Class Action with Remaining Defendants and a copy of the Proof of Claim and Release Form at www.veltisecuritieslitigation.com. You may also obtain copies by writing to In re Velti plc Securities Litigation, Claims Administrator, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 3, Media, PA 19063. If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must timely submit a valid Proof of Claim and Release form to the Claims Administrator (unless you have already done so in connection with the Partial Settlement), either by U.S. Mail and postmarked no later than midnight on January 18, 2017, or submitted by electronic mail not later than midnight PST/PDT on January 18, 2017 to [email protected] The submitted Proof of Claim must establish that you are entitled to a recovery. You will be bound by any judgment rendered in the Action unless you request to be excluded, in writing, to the above address, postmarked by January 18, 2017 in the manner detailed in the Notice.

Any written objection to any aspect of the settlement must be filed with the Clerk of the Court no later than January 18, 2017.


EXCEPT AS OTHERWISE INSTRUCTED, PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.


Dated: October 6, 2016

BY ORDER OF THE COURT


UNITED STATES DISTRICT COURT


NORTHERN DISTRICT OF CALIFORNIA

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