The Law Firms Of Labaton Sucharow LLP And Robbins Geller Rudman & Dowd LLP Announce A Proposed Settlement With Lender Processing Services, Inc. And Motion For Attorneys' Fees And Expenses

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The Law Firms Of Labaton Sucharow LLP And Robbins Geller Rudman & Dowd LLP Announce A Proposed Settlement With Lender Processing Services, Inc. And Motion For Attorneys’ Fees And Expenses

The Law Firms Of Labaton Sucharow LLP And Robbins Geller Rudman & Dowd LLP Announce A Proposed Settlement With Lender Processing Services, Inc. And Motion For Attorneys’ Fees And Expenses

JACKSONVILLE, Fla., Aug. 1, 2013 /PRNewswire via COMTEX/ — UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF FLORIDA JACKSONVILLE DIVISION

 CITY OF ST. CLAIR SHORES GENERAL                   Case No. 3:10-cv-01073-TJC-JBT
        EMPLOYEES' RETIREMENT SYSTEM,
        Individually and on Behalf of All Others Similarly
        Situated,
                                                           Honorable Timothy J. Corrigan
        Plaintiff,
                                                           SUMMARY NOTICE OF
                                                           PENDENCY OF CLASS ACTION
                                                           AND PROPOSED SETTLEMENT
                                                           AND MOTION FOR ATTORNEYS'
                                                           FEES AND EXPENSES
        vs.
        LENDER PROCESSING SERVICES, INC., et al.
        Defendants.

TO: ALL PERSONS OR ENTITIES WHO, DURING THE PERIOD FROM AUGUST 6, 2008 TO AND THROUGH OCTOBER 4, 2010, INCLUSIVE, (THE “CLASS PERIOD”), PURCHASED OR ACQUIRED THE PUBLICLY TRADED COMMON STOCK OF LENDER PROCESSING SERVICES, INC. (“LPS”), AND WERE DAMAGED THEREBY (“SETTLEMENT CLASS”).

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an order of the Court, that the Settlement Class in the above-captioned litigation (“Action”) has been preliminarily certified for purposes of settlement only and that a settlement between Baltimore County Employees’ Retirement System (“Lead Plaintiff”) and LPS, Jeffrey S. Carbiener and Francis K. Chan (collectively, “Defendants”), in the amount of $14,000,000 in cash, has been proposed by the Settling Parties.

A hearing will be held before the Honorable Timothy J. Corrigan of the United States District Court for the Middle District of Florida in the Bryan Simpson United States Courthouse, 300 North Hogan Street, Jacksonville, Florida, 32202 at 10:00 a.m., on October 25, 2013 to, among other things: determine whether the proposed Settlement should be approved as fair, reasonable, and adequate; determine whether, thereafter, this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement with the Defendants, dated as of January 28, 2013; determine whether the proposed Plan of Allocation for distribution of the Net Settlement Fund should be approved as fair and reasonable; and consider the application of Lead Plaintiff’s Counsel for an award of attorneys’ fees and payment of litigation expenses. The Court may change the date of the hearing without providing another notice.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement and Motion for Attorneys’ Fees and Expenses (“Notice”) and a Proof of Claim and Release Form (“Proof of Claim”), you may obtain copies of these documents by contacting the Claims Administrator:

LPS Securities Litigation Claims Administrator PO Box 3219 Portland, OR 97208-3219 (877) 810-7249 www.LenderProcessingServicesSecuritiesSettlement.com

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Plaintiff’s Counsel:

 

        Jonathan Gardner, Esq. Jack Reise, Esq.
        LABATON SUCHAROW LLP   ROBBINS GELLER RUDMAN & DOWD LLP
        140 Broadway           120 E. Palmetto Park Road, Suite 500
        New York, NY 10005     Boca Raton, FL 33432

If you are a Settlement Class Member, to be eligible to share in the distribution of the Settlement proceeds, you must submit a Proof of Claim postmarked no later than November 19, 2013.

To exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice such that it is received no later than October 4, 2013. If you are a putative Settlement Class Member and do not exclude yourself from the Settlement Class, you will be bound by the Final Order and Judgment.

Any objections to the proposed Settlement, Plan of Allocation, and/or application for attorneys’ fees and payment of expenses must be filed with the Court and served on counsel for the Settling Parties in accordance with the instructions set forth in the Notice, such that they are received no later than October 4, 2013.

If you are a Settlement Class Member and do not timely submit a valid Proof of Claim, you will not be eligible to share in the Net Settlement Fund, but you nevertheless will be bound by the Final Order and Judgment.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Plaintiff’s Counsel at the addresses listed above.

 DATED: August 1, 2013 BY ORDER OF THE COURT
                              UNITED STATES DISTRICT COURT
                              MIDDLE DISTRICT OF FLORIDA

SOURCE UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF FLORIDA JACKSONVILLE DIVISION

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