If you purchased Force Protection, Inc. (“Force Protection”) common stock from January 18, 2007 to March 14, 2008, inclusive (the “Class”), your rights could be affected by a class action settlement.
A class action settlement has been reached in a securities fraud class action lawsuit against Force Protection, Inc. (“Force Protection”), a manufacturer of blast and ballistic protected vehicles, and certain of Force Protection’s former officers and directors (collectively “Defendants”) in the United States District Court for the District of South Carolina, Charleston Division (styled In re Force Protection, Inc. Securities Litigation, Class Action Case No. 2:08-cv-845-CWH), alleging, among other things, that Force Protection and its former officers and directors issued false and misleading statements, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and that certain individual defendants engaged in insider trading, in violation of Section 20A of the Exchange Act, according to the Force Protection securities fraud class action settlement notice.
Force Protection class members reportedly include the following persons, unless otherwise excluded:
All persons who purchased Force Protection, Inc. (“Force Protection” or the “Company”) common stock from January 18, 2007 to March 14, 2008, inclusive (the “Class”).
The Force Protection class action settlement reportedly requires the Defendants to provide the Class with $24,000,000 (the “Settlement Amount”), plus interest accrued, in order to settle the federal securities claims brought against them. Attorneys’ fees and expenses, notification costs, a Compensatory Award to the Lead Plaintiffs, and claims administration costs will be reportedly be deducted from the Force Protection Settlement Amount. The Settlement Amount minus these fees, costs, expenses and awards will reportedly be distributed to the Force Protection settlement Class.
For more information on the Force Protection 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 Force Protection securities class action settlement website:
www.forceprotectionclassaction.com
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