Hu v. Cadence Design Systems, Inc et al

Filing 168

ORDER by Judge Samuel Conti granting (151) Motion for Settlement; granting (163) Motion for Settlement in case 3:08-cv-04966-SC; granting (21) Motion for Settlement; granting (27) Motion for Settlement in case 3:10-cv-03607-SC; granting (28) Motion f or Settlement; granting (34) Motion for Settlement in case 3:10-cv-01849-SC; granting (27) Motion for Settlement; granting (21) Motion for Settlement in case 3:10-cv-03627-SC (Attachments: # 1 Exhibit, # 2 Exhibit) (sclc1, COURT STAFF) (Filed on 11/15/2011)

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1 THE WEISER LAW FIRM, P.C. KATHLEEN A. HERKENHOFF (168562) 2 12707 High Bluff Drive, Suite 200 San Diego, CA 92130 3 Telephone: 858/794-1441 Facsimile: 858/794-1450 4 5 THE WEISER LAW FIRM, P.C. ROBERT B. WEISER 6 BRETT D. STECKER JEFFREY J. CIARLANTO 7 121 N. Wayne Avenue, Suite 100 Wayne, PA 19087 8 Telephone: 610/225-2677 Facsimile: 610/225-2678 9 Attorneys for Plaintiff Walter Hamilton 10 11 UNITED STATES DISTRICT COURT 12 NORTHERN DISTRICT OF CALIFORNIA 13 SAN FRANCISCO DIVISION 14 In re CADENCE DESIGN SYSTEMS, INC. 15 SECURITIES AND DERIVATIVE LITIGATION 16 ) ) ) ) ) 17 This Document Relates To: ) ) 18 Nos. CV-10-01849-SC, CV-10-03607- ) ) SC, and CV-10-03627-SC. 19 ) ) 20 21 22 23 24 25 26 27 28 No. C-08-4966 SC SUMMARY NOTICE OF SETTLEMENT EXHIBIT A-2 1 TO: ALL CURRENT RECORD HOLDERS AND BENEFICIAL OWNERS OF COMMON 2 STOCK OF CADENCE DESIGN SYSTEMS, INC. (“CADENCE” OR THE “COMPANY”) 3 AS OF JUNE 7, 2011 (“CURRENT CADENCE STOCKHOLDERS”). 4 YOU ARE HEREBY NOTIFIED, pursuant to Federal Rule of Civil Procedure 23.1 and 5 Order of the Court, that a Stipulation of Settlement dated June 7, 2011 (the “Stipulation” or 6 “Settlement”) has been entered to resolve all shareholder derivative claims pending on behalf of 7 Nominal Defendant Cadence Design Systems, Inc. in three related shareholder derivative actions 8 currently pending before the United States District Court for the Northern District of California (the 9 “Federal Actions”). The Stipulation also resolves all related shareholder derivative claims pending 10 in the Superior Court of the State of California, Santa Clara County (the “State Action,” and, 11 collectively with the Federal Actions, the “Actions”). 12 On _____________, 2011, at __:00 _.m., a hearing (the “Settlement Hearing”) will be held 13 before the Honorable Samuel Conti of the United States District Court for the Northern District of 14 California, located at 450 Golden Gate Avenue, Courtroom 1, San Francisco, California, to 15 determine: (1) whether the terms of the Settlement, including an award of attorneys’ fees and 16 expenses to Plaintiffs’ Counsel in the Actions, upon the terms and conditions set forth in the 17 Stipulation, and Special Awards in the amount of $2,500 for each of the Plaintiffs should be 18 approved as fair, reasonable, and adequate; and (2) whether the Actions should be dismissed on the 19 merits and with prejudice. 20 PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. IF YOU 21 ARE A CURRENT CADENCE STOCKHOLDER, YOUR RIGHTS MAY BE 22 AFFECTED BY THE SETTLEMENT OF THE ACTIONS. 23 This is a summary notice only. For additional information about the claims asserted in the 24 Actions and the terms of the proposed Settlement, please refer to the documents filed with the Court 25 in the Actions, and the Current Report on SEC Form 8-K, which is available on the “Investor 26 Relations” section of Cadence’s website ( and provides hyperlinks to the 27 full-length Notice of Settlement (the “Notice”) and the Stipulation. In addition, complaints in the 28 derivative suits and the class action can be obtained on the website NOTICE OF SETTLEMENT - C-08-4966 SC -1- 1 PLEASE DO NOT CONTACT THE COURT REGARDING THIS SUMMARY 2 NOTICE. If you have additional questions regarding the Settlement, or if you do not have access to 3 Internet, please contact Counsel for Plaintiff Walter Hamilton in the Federal Actions: Robert B. 4 Weiser, The Weiser Law Firm, P.C., 121 North Wayne Avenue, Suite 100, Wayne, PA 19087; 5 telephone: 610-225-2677. 6 If you are a Current Cadence Stockholder, you will be bound by the Order and Final 7 Judgment of the Court granting final approval to the Settlement, and shall be deemed to have waived 8 the right to object (including the right to appeal) and forever shall be barred, in this proceeding or in 9 any other proceeding, from raising such objection. Any objections to the Settlement must be filed 10 on or before ________________________, 2011, in accordance with the procedures set forth in the 11 Notice. 12 DATED _______________, 2011 13 BY ORDER OF THE COURT UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 NOTICE OF SETTLEMENT - C-08-4966 SC -2-

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