If you purchased or otherwise acquired the publicly-traded common stock of Allot Communications, Ltd. (“Allot”) (trading symbol NASDAQ:ALLT) between November 15, 2006, and April 2, 2007, inclusive, you could get a payment from a class action settlement.
A class action settlement has been reached in a securities fraud class action lawsuit against Allot Communications, Ltd. (“Allot”) and certain of its officers and directors (collectively “Defendants”) in the United States District Court for the Southern District of New York, alleging that Allot and certain of its officers and directors violated the federal securities laws by including materially untrue and/or misleading statements and/or omissions in Allot’s prospectus and registration statement issued in connection with its November 15, 2006, initial public offering (“IPO”), according to the Allot class action settlement notice.
The Allot settlement class members reportedly include the following persons, unless otherwise excluded:
All persons and entities who purchased or otherwise acquired the common stock of Allot between November 15, 2006, and April 2, 2007, inclusive.
The Allot securities fraud class action lawsuit settlement reportedly will provide a $1,300,000 cash Settlement Fund for the benefit of investors (“Class Members”) who purchased or otherwise acquired the common stock of Allot between November 15, 2006, and April 2, 2007, inclusive, and held them until at least after April 2, 2007.
The Court is scheduled to hold a Settlement Hearing at 10 a.m. on April 29, 2011, at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., Courtroom 17B, New York, NY 10007-1312 to consider whether the Allot class action settlement is fair, reasonable, and adequate.
For more information on the Allot securities fraud class action lawsuit settlement, including how to participate in, be excluded from or object to the settlement and deadlines for doing so, visit the Allot securities class action settlement website.
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