Neustar Securities Litigation

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Neustar Securities Litigation
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The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys’ Fees and Expenses (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional details.

 

Your Legal Rights Are Affected Whether You Act Or Do Not Act.  Please read the Notice carefully.

 

IF YOU PURCHASED OR OTHERWISE ACQUIRED PUBLICLY TRADED COMMON STOCK OF NEUSTAR, INC. BETWEEN APRIL 19, 2013 AND JUNE 6, 2014, INCLUSIVE (THE "CLASS PERIOD"), YOU MAY BE ENTITLED TO A PAYMENT FROM A CLASS ACTION SETTLEMENT.

 

IMPORTANT DATES AND DEADLINES

SUBMIT A CLAIM FORM

 

 

Postmarked or received on or before February 3, 2016

 

 

EXCLUDE YOURSELF

Received on or before November 12, 2015

OBJECT TO THE SETTLEMENT

Received on or before November 12, 2015 and filed with the Court no later than November 12, 2015

SETTLEMENT HEARING

December 3, 2015 at 10:00 a.m.

 

United States District Court for the Eastern District of Virginia Alexandria Division

DO NOTHING

Receive no payment

 

 

The Court’s Settlement Hearing

A hearing will be held before the Honorable James C. Cacheris of the United States District Court for the Eastern District of Virginia, at the Albert V. Bryan U.S. Courthouse, 401 Courthouse Square, Alexandria, VA 22314 at 10:00 a.m. on December 3, 2015 to determine, among other things, whether (1) the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (2) this Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement, dated as of July 28, 2015; (3) the proposed Plan of Allocation for distribution of the Net Settlement Fund should be approved as fair and reasonable; and (4) the application of Lead Counsel for an award of attorneys’ fees and payment of litigation expenses should be approved.  The Court may change the date of the hearing without providing another notice.  You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.

 

What is this case about?

Neustar is a communications data processing company that provides directory and analytic services to telecommunications companies and internet service providers.  Neustar has been the sole Local Number Portability Administrator (“LNPA”) for the United States since 1997. The LNPA manages the Number Portability Administration Center (“NPAC”), a large central data registry that includes essentially all of the wireline and wireless telephone numbers in the United States, and allows people to keep their telephone numbers when switching to a new telecommunications service provider.  In 2011, the Federal Communications Commission put the NPAC contracts up for public bid for the first time, and released a formal Request for Proposal in 2013.

The operative complaint in the Action is the Consolidated Amended Class Action Complaint for Violations of the Federal Securities Laws, filed on November 6, 2014 (the “Complaint”) asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission (“SEC”).  The Complaint alleges, among other things, that Defendants made false and misleading statements regarding Neustar’s competitive standing in the LNPA bidding and selection process and the risk that Neustar, after 17 years as the sole LNPA, would lose the NPAC contracts to a competitor.

Defendants deny all allegations of wrongdoing contained in the Complaint and deny that they are liable.  The Settlement should not be seen as an admission or concession on the part of Defendants about any of the claims, their fault, or liability for damages.  Defendants have taken into account the burden, expense, uncertainty, distraction, and risks inherent in any litigation and have concluded that it is desirable that the Action be fully and finally settled upon the terms and conditions set forth in the Settlement Agreement.

 

The Settlement Benefits

Subject to Court approval, Lead Plaintiff, on behalf of itself and the Settlement Class, has agreed to settle the Action in exchange for a settlement payment of $2,625,000 in cash for the benefit of eligible investors who purchased the publicly traded common stock of Neustar during the Class Period.  The Net Settlement Fund (i.e., the Settlement Amount plus any and all interest earned thereon (the “Settlement Fund”) less Court-awarded attorneys’ fees, interest, and expenses, settlement administration costs, and any applicable Taxes will be distributed in accordance with a plan of allocation that is approved by the Court, which will determine how the Net Settlement Fund shall be allocated among members of the Settlement Class.  The proposed Plan of Allocation can be found on page 7 of the Notice.

Your share of the Net Settlement Fund will depend on several things, including: (a) the amount of Recognized Claims of other Settlement Class Members; (b) how many shares of publicly traded Neustar common stock you bought; (c) how much you paid for the shares; (d) when you bought them; and (e) whether or when you sold them (and, if so, for how much you sold them).

 

The Rights of Members of the Settlement Class

If you are a member of the Settlement Class, you have the following options:

Submit a Proof of Claim Form

If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment under the proposed Settlement, you must submit a Proof of Claim form postmarked or received on or before February 3, 2016.  If you are a Settlement Class Member and do not submit a proper Proof of Claim form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action with respect to the Settlement.

Exclude yourself from the Settlement Class

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received on or before November 12, 2015, in accordance with the instructions set forth in the Notice.  If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action with respect to the Settlement and you will not be eligible to share in the proceeds of the Settlement.  If you do not exclude yourself from the Settlement Class, you will be bound by any judgments or orders entered by the Court in the Action with respect to the Settlement.

Object to the Settlement

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel’s Fee and Expense Application, must be filed with the Court and delivered to Lead Counsel and Defendants’ Counsel such that they are received on or before November 12, 2015, in accordance with the instructions set forth in the Notice.

 

 

Further Information:

This website and the Notice summarizes the proposed Settlement.  For more details regarding this Settlement please see the Stipulation and Agreement of Settlement dated July 28, 2015, or other documents filed in the case under the “Court Documents” link on the left.  You may also contact the Claims Administrator or Lead Counsel for further information regarding this Settlement:

 

Claims Administrator:

 

In re Neustar, Inc. Securities Litigation

c/o A.B. Data, Ltd.

PO Box 170500

Milwaukee, WI  53217-8091

866-893-1052

info@NeustarSecuritiesSettlement.com

www.NeustarSecuritiesSettlement.com

 

 

Lead Counsel:

 

LABATON SUCHAROW LLP

David J. Goldsmith, Esq.

140 Broadway

New York, NY 10005

888-219-6877

settlementquestions@labaton.com

www.labaton.com         

 

 

If you have questions, you may call the Neustar Securities Litigation Help Line at 866-893-1052 or email info@NeustarSecuritiesSettlement.com.

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