Avaya Securities Class Action Lawsuit Settlement

If you purchased or acquired Avaya, Inc. (“Avaya”) common stock or put and call options (collectively, “Avaya Publicly Traded Securities”) during the period from March 2, 2005 to April 19, 2005, inclusive (the “Class Period”) and are not otherwise excluded from the class, you could get a payment from a class action settlement.

A class action settlement has been reached in a class action lawsuit pending against Avaya Inc. and other Defendants in the United States District Court for the District of New Jersey (styled Charatz v. Avaya, Inc., et al., No. 3:05-cv-02319-MLC-TJB), alleging, among other things, that Avaya and its former Chief Executive Officer and Chief Financial Officer violated the federal securities laws by making false and misleading statements during the Class Period regarding the condition of Avaya’s core business in the United States where Avaya faced strong competition from multiple companies, according to the Avaya securities class action settlement notice.

Under the proposed Avaya securities class action lawsuit settlement, Avaya has reportedly agreed to pay or cause to be paid $4,500,000 in cash (the “Settlement Fund”).  The Avaya Settlement Fund, plus interest earned from the date it is established, less costs, fees, and expenses (such as Court-approved attorneys’ fees and expenses, the costs of notifying Avaya Class Members, including the costs of printing and mailing Notice and the cost of publishing newspaper notice, the costs of claims administration, and taxes on the Avaya Settlement Fund) (the “Net Settlement Fund”), will reportedly be divided among all eligible Avaya Class Members who send in timely and valid claim forms (“Authorized Claimants”).

The Avaya settlement class reportedly includes all all Persons who purchased or acquired Avaya Publicly Traded Securities (Avaya Inc. common stock or put and call options) between March 2, 2005 and April 19, 2005, inclusive, who are otherwise not excluded from the class action settlement.

An Avaya class action settlement hearing is scheduled to be held at 1:00 p.m., on September 27, 2010, at the United States District Court for the District of New Jersey, Clarkson S. Fisher Federal Building & U.S. Courthouse, 402 East State Street, Trenton, NJ 08608 for the Court to consider, among other things, whether the settlement is fair, reasonable and adequate.

For more information on the Avaya securities class action lawsuit settlement and potential settlement benefits, call 1-800-449-4900 or visit the Avay Securities Litigation Website http://www.gilardi.com/avaya/

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