West Palm Beach Firefighters' Pension Fund v. Startek, Inc. et al

Filing 95

ORDER PRELIMINARILY APPROVING SETTLEMENT AND PROVIDING FOR NOTICE re: 89 Unopposed MOTION for Preliminary Approval of Class Action Settlement and 90 Parties' Stipulation of Settlement. I certify for settlement purposes only a Class defined as all Persons who purchased StarTek, Inc. common stock between 2/26/2003 and 5/5/2005, as set forth in this Order. I preliminarily approve the Stipulation and the settlement set forth therein. Settlement Hearing set for 12/17/09 at 1:30 p.m. in Courtroom A902 before Judge Walker D. Miller, by Judge Walker D. Miller on 10/22/09. (Attachments: # 1 Exhibit A-1, # 2 Exhibit A-2, # 3 Exhibit A-3)(ebs, )

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO Civil Action No. 05-cv-01265-WDM-MEH (Consolidated with 05-cv-01344-WDM-MEH) WEST PALM BEACH FIREFIGHTERS' PENSION FUND, On Behalf of Itself and All Others Similarly Situated, Plaintiff, v. STARTEK, INC., et al., Defendants. ______________________________________________________________________________ SUMMARY NOTICE EXHIBIT A-3 ______________________________________________________________________________

TO:

ALL PERSONS (AND THEIR BENEFICIARIES) WHO PURCHASED THE COMMON STOCK OF STARTEK, INC. ("STARTEK") BETWEEN FEBRUARY 26, 2003 AND MAY 5, 2005, INCLUSIVE YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court

for the District of Colorado, that a hearing will be held on December 17, 2009, at 1:30 p.m., before the Honorable Walker D. Miller, at the Alfred Arraj United States Courthouse, Courtroom A902, 901 19th Street, Denver, Colorado, for the purpose of determining (1) whether the proposed settlement of the claims in the Litigation for the sum of $7,500,000.00 in cash should be approved by the Court as fair, just, reasonable, and adequate; (2) whether, thereafter, this Litigation should be dismissed with prejudice as set forth in the Stipulation of Settlement dated as of May 27, 2009 ("Stipulation"); (3) whether the Plan of Allocation is fair, just, reasonable, and adequate and therefore should be approved; and (4) whether the application by plaintiffs' counsel for an award of attorneys' fees and expenses incurred in connection with this Litigation should be approved and whether the expenses of Lead Plaintiff should be reimbursed. Each Defendant has denied and continues to deny each and all of the claims and contentions alleged in the Litigation against it, her, or him. Each Defendant has expressly denied and continues to deny all charges of wrongdoing or liability against it, her, or him arising out of any of the conduct, statements, acts or omissions alleged, or that could have been alleged, in the Litigation. The Defendants also have denied and continue to deny, inter alia, the allegations that the Lead Plaintiff or the Class have suffered damage, that the prices of StarTek common stock were artificially inflated by reason of alleged misrepresentation, non-disclosures or otherwise, or that the Lead Plaintiff or the Class were harmed by the conduct alleged in the Complaint. If you purchased StarTek common stock during the period beginning February 26, 2003 through May 5, 2005, your rights may be affected by the settlement of this Litigation. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to StarTek Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 990, Corte Madera, -1-

CA 94976-0900, or on the internet at www.gilardi.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form no later than January 22, 2010, establishing that you are entitled to recovery. If you desire to be excluded from the Class, you must submit a Request for Exclusion by November 27, 2009, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who have not requested exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation. Any objection to the settlement, the Plan of Allocation, or the application for fees and expenses must be mailed or delivered such that it is received by each of the following no later than November 27, 2009: Court: CLERK OF THE COURT UNITED STATES DISTRICT COURT DISTRICT OF COLORADO 901 19th Street Denver, CO 80294-3589 Plaintiffs' Lead Counsel: COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP KEITH F. PARK 655 West Broadway, Suite 1900 San Diego, CA 92101 Counsel for Defendants: COOLEY GODWARD KRONISH LLP WILLIAM E. GRAUER 4401 Eastgate Mall San Diego, CA 92121 PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING

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THIS NOTICE. If you have any questions about the settlement, you may contact Plaintiffs' Lead Counsel at the address listed above. Dated: _____________________, 2009 BY ORDER OF THE COURT UNITED STATES DISTRICT COURT DISTRICT OF COLORADO

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