Maiden v. Merge et al. Securities Litigation

MILWAUKEE, Aug. 20 /PRNewswire/ -- The following statement is being issued by Timothy DeLange, Esq., Bernstein Litowitz Berger & Grossmann LLP regarding the Maiden v. Merge, et al. Securities Litigation

                          UNITED STATES DISTRICT COURT
                          EASTERN DISTRICT OF WISCONSIN
                               MILWAUKEE DIVISION

    ROSALIND MAIDEN, On Behalf of herself and Others Similarly Situated,

    Plaintiff,

        v.

    MERGE, INC. (d.b.a. MERGE HEALTHCARE), RICHARD A. LINDEN, and SCOTT T.
    VEECH,

    Defendants.

    CIVIL No. 2:06-00349-RTR

    Chief Judge Rudolph T. Randa

SUMMARY NOTICE OF PROPOSED SETTLEMENT, SETTLEMENT FAIRNESS HEARING AND PETITION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO: ALL PURCHASERS OF THE PUBLICLY-TRADED SECURITIES OF MERGE TECHNOLOGIES, INC. BETWEEN APRIL 25, 2002 AND JULY 3, 2006 (the "Class Period"), INCLUSIVE:

YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified as a class action for purposes of a proposed settlement with Merge Technologies, Inc. ("Merge") and Richard A. Linden, Scott T. Veech and David Noshay, valued at $16 million in cash. A hearing will be held before the Honorable Rudolph T. Randa at 320 United States Courthouse, 517 East Wisconsin Avenue,Milwaukee, WI 53202 at 2:00 p.m. on November 10, 2008 to determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate, whether the Plan of Allocation is fair and equitable and therefore should be approved in connection with this Settlement, and to consider the application of Lead Counsel for attorneys' fees and reimbursement of litigation expenses.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the Notice of: (1) Pendency of Class Action, and (2) Hearing on Proposed Settlement and Attorneys' Fee Petition and Right to Share in Net Settlement Fund (the "Notice") and Proof of Claim and Release form ("Claim Form"), you may obtain copies of these documents by contacting: Maiden v. Merge, et al Securities Litigation, c/o The Garden City Group, Inc., P.O. Box 9304,Dublin, Ohio 43017-4204. Copies of the Notice and Claim Form may also be downloaded from: www.blbglaw.com or www.gardencitygroup.com. If you are a Settlement Class Member, in order to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form no later than November 12, 2008, establishing that you are entitled to a recovery. You will be bound by any judgment entered in the Action whether or not you make a Claim.

If you desire to be excluded from the Settlement Class, you must submit a request for exclusion so that it is postmarked no later than October 13, 2008, in the manner and form explained in the Notice. All Settlement Class Members who do not request exclusion from the Class will be bound by any judgment entered in the Action.

Any objection to the proposed Settlement, Plan of Allocation or application for attorneys' fees and reimbursement of litigation expenses must be filed with the Court and delivered to counsel for the parties no later than October 13, 2008 in the manner and form set forth in the Notice.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the Notice and Claim Form, may be made to Lead Counsel:

    Blair A. Nicholas
    Timothy DeLange
    Bernstein Litowitz Berger & Grossmann LLP
    12481 High Bluff Drive, Suite 300
    San Diego, CA 92130
    (888) 924-1888
    www.blbglaw.com

    Dated: July 15, 2008                 BY ORDER OF THE COURT

SOURCE Bernstein Litowitz Berger & Grossmann LLP

Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze, Daily News

Tags: ,CPR,LAW,WI-Bernstein-Litowitz