Click here to close now.




















Welcome!

News Feed Item

ROBBINS GELLER RUDMAN & DOWD LLP Announces Proposed Settlement of VESTAS WIND SYSTEMS A/S SECURITIES LITIGATION

PORTLAND, Ore., Aug. 22, 2014 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the VESTAS WIND SYSTEMS A/S SECURITIES LITIGATION:

Gilardi & Co LLC.

In re VESTAS WIND SYSTEMS
A/S SECURITIES LITIGATION

)

)

Case No. 3:11-cv-00585-MO

TO:     ALL PERSONS WHO, DURING THE PERIOD FROM FEBRUARY 11, 2009, THROUGH FEBRUARY 9, 2012, INCLUSIVE (THE "CLASS PERIOD"), PURCHASED OR OTHERWISE ACQUIRED AMERICAN DEPOSITARY RECEIPTS ("ADRs") OR COMMON STOCK OF VESTAS WIND SYSTEMS A/S ("VESTAS") IN U.S. DOMESTIC TRANSACTIONS, INCLUDING ON THE OVER-THE-COUNTER MARKET.

YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified as a class action and that the Lead Plaintiff has reached a proposed settlement with Vestas to resolve all claims in the case for $5,000,000 in cash.

For settlement purposes, the Court has certified a Class consisting of all persons and entities who purchased or otherwise acquired ADRs for Vestas ordinary shares and Vestas common stock (ordinary shares) in U.S. domestic transactions during the Class Period.  The proposed settlement does not apply to purchases or acquisitions of Vestas securities in non-U.S. transactions.

A hearing will be held on December 9, 2014, at 11:00 a.m., before United States District Judge Michael W. Mosman, in the United States District Court for the District of Oregon, Portland Division, located at Mark O. Hatfield U.S. Courthouse, 1000 S.W. Third Avenue, Portland, Oregon 97204, to determine whether the Court should approve the proposed settlement as fair, reasonable, and adequate and whether the Court should grant Lead Counsel's application for attorneys' fees and expenses.

IF YOU ARE A CLASS MEMBER, YOUR RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT MONEY.

If you have not yet received the Notice of: (1) Pendency and Proposed Settlement of Class Action and (2) Hearing on Proposed Settlement (the "Notice"), you may obtain it by contacting In re Vestas Wind Systems A/S Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040, United States of America, telephone (877) 430-6692 or (317) 324-0701.  You may also download the Notice from: www.vestassecuritieslitigation.com.

To participate in the settlement, you must submit a Claim Form.  You may download the Claim Form from www.vestassecuritieslitigation.com, or you may contact the Claims Administrator to request a Claim Form and to be added to the mailing list.  Completed Claim Forms must be postmarked or received by December 29, 2014, at the Claims Administrator's address (printed above).

If you purchased or otherwise acquired ADRs or Vestas common stock in U.S. domestic transactions during the Class Period, you will be deemed a Class Member unless you ask to be excluded from the Class.  Any requests for exclusion must be received by November 19, 2014, at the Claims Administrator's address (printed above).  Each request for exclusion must (i) state the name, address, telephone number, and e-mail address (if available) of the person or entity requesting exclusion, (ii) state that such person or entity requests exclusion from the Vestas settlement, (iii) be signed by the person or entity requesting exclusion, and (iv) provide the date(s), price(s), and number(s) of shares of all purchases and sales of ADRs and Vestas common stock in U.S. domestic transactions during the Class Period.  You will be bound by any judgment rendered in the class action unless you timely request exclusion from the Class as explained in the Notice, even if you have pending or later file another lawsuit, arbitration, or other proceeding relating to the claims covered by this settlement.  If you submit a valid and timely request for exclusion, you cannot share in the settlement money, cannot object to the settlement, and will not be bound by the settlement or the Court's rulings.

The Notice also describes how you may object to the settlement.  All objections must be received by the Court (at the address printed above) and by the lawyers listed below no later than November 19, 2014:

Lead Counsel for the Class

Vestas' Counsel

Henry Rosen, Esq.

Ralph C. Ferrara, Esq.

Patrick Daniels, Esq.

Jonathan E. Richman, Esq.

Trig Smith, Esq.

Proskauer Rose LLP

Keith Park, Esq.

1001 Pennsylvania Avenue, N.W.

Robbins Geller Rudman & Dowd LLP

Suite 400 South

655 West Broadway, Suite 1900

Washington, DC 20004

San Diego, CA 92101


(800) 449-4900


Inquiries, other than requests for copies of the Notice or for inclusion in the mailing list for future notices, may be directed to Lead Counsel for the Class.

DATED: July 30, 2014

BY ORDER OF THE COURT

Logo - http://photos.prnewswire.com/prnh/20130827/SF70625LOGO

SOURCE Robbins Gellar Rudman & Dowd LLP

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.