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Newman v. Network Equipment Technologies, Inc.

United States District Court, Ninth Circuit

January 28, 2014

SUZANNE NEWMAN, Individually and on behalf of all others similarly situated, Plaintiff,
v.
NETWORK EQUIPMENT TECHNOLOGIES, INC., DAVID WAGENSELLER, DIXON R. DOLL, C. NICHOLAS KEATING, JR., FREDERICK D'ALESSIO, DAVID R. LAUBE, SONUS NETWORKS, INC., and NAVY ACQUISITION SUBSIDIARY, INC., Defendants.

ORDER AND FINAL JUDGMENT

LUCY H. KOH, District Judge.

The Stipulation of Settlement dated February 20, 2013 (the "Stipulation") of the above-captioned action (the "Action"), and the settlement contemplated thereby (the "Settlement") having been presented at the Settlement Hearing on January 16, 2014, pursuant to the Scheduling Order entered herein on August 2, 2013 (the "Scheduling Order") and the Court having determined that notice of said hearing was given to the Class in accordance with the Scheduling Order and that said notice was adequate and sufficient; and the parties having appeared by their attorneys of record; and the attorneys for the respective parties having been heard in support of the Settlement of the Action, and an opportunity to be heard having been given to all other persons desiring to be heard as provided in the notice; and the entire matter of the Settlement having been considered by the Court;

IT IS HEREBY ORDERED, ADJUDGED AND DECREED, this 28th day of January, 2014, as follows:

1. Unless otherwise defined herein, all defined terms shall have the meanings as set forth in the Stipulation.

2. The Notice of Pendency of Class Action, Proposed Settlement of Class Action, Settlement Hearing and Right to Appear ("Notice") has been given to the Class (as defined below) pursuant to and in the manner directed by the Scheduling Order, proof of the mailing of the Notice has been filed with the Court and a full opportunity to be heard has been offered to all parties to the Action, the Class and persons in interest. The form and manner of the Notice is hereby determined to have been the best notice practicable under the circumstances and to have been given in full compliance with each of the requirements of Rule 23 of the Federal Rules of Civil Procedure and due process, and it is further determined that all members of the Class are bound by the Order and Final Judgment herein.

3. Based on the record of the Action, the Court hereby finds, pursuant to Rule 23 of the Federal Rules of Civil Procedure, as follows:

a. that (i) the Class, as defined below, is so numerous that joinder of all members is impracticable, (ii) there are questions of law and fact common to the Class, (iii) the claims of Plaintiffs are typical of the claims of the Class, and (iv) Plaintiffs and Plaintiffs' Counsel have fairly and adequately protected the interests of the Class;

b. that the requirements of Rule 23(a) and (b) of the Federal Rules of Civil Procedure have been satisfied;

c. that the requirements of the Federal Rules of Civil Procedure and due process have been satisfied in connection with the Notice;

d. that the Action is hereby certified as a non-opt out class action pursuant to Rule 23 of the Federal Rules of Civil Procedure with the class defined as all record and beneficial holders of NET common stock, their respective successors and predecessors in interest, representatives, trustees, executors, administrators, heirs, assigns or transferees, immediate and remote, and any person or entity acting for or on behalf of, or claiming under any of them, and each of them, together with their predecessors and successors and assigns, who held NET common stock at any time between and including June 18, 2012 and August 24, 2012, but excluding Defendants and their respective affiliates; and

e. that Plaintiff is hereby certified as the Class representative, and Plaintiffs' Counsel are certified as Class Counsel.

4. The Settlement is found to be fair, reasonable and adequate and in the best interests of the Class, and it is hereby approved pursuant to Rule 23(e) of the Federal Rules of Civil Procedure. The Parties are hereby authorized and directed to comply with and to consummate the Settlement in accordance with the terms and provisions of the Stipulation, and the clerk for the Northern District of California Court is directed to enter and docket this Order and Final Judgment in the Action.

5. This Order and Final Judgment shall not constitute any evidence or admission by any of the Parties herein that any acts of wrongdoing have been or have not been committed by any of the Parties to the Action and should not be deemed to create any inference that there is any liability or lack of any liability therefor.

6. The Action is hereby dismissed with prejudice in its entirety as to the Defendants and against Plaintiffs and all other members of the Class on the merits and, except ...


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