Oclaro and Opnext combined with the relevant shareholders litigation reconciliation in progress

A few days ago, Oclaro said in a series of merged with Opnext related shareholder lawsuit reconciliation and progress. The company said the Alameda County, California High Court has approved a preliminary four pending class action settlement proposal.

Under the proposal, the plaintiff will pass through the ” additional disclosure ” reconciliation reconciliation. The plaintiff also agreed to have their lawyer fees limit to $235000. At the same time, the two item in Delaware Chancery Court in the merging of litigation will be cancelled.

The four lawsuits include: Zilberberg v. Abbe, case No. RG12623460; Welty v. Bosco, case No. RG12624240; Greenberg v. Abbe, case No. RG12624444; Graf v. Opnext, case No. RG12624798. In the case of the accused were: Opnext and Opnext company board members ( Abbe is a former Opnext company board member Charles Abbe, while Bosco is a former Opnext chairman and CEO ), Oclaro, and Tahoe Acquisition Sub ( Oclaro for the convenience of merged to form a subsidiary). The lawsuit alleges that defendants violated its Opnext to Opnext shareholders the fiduciary responsibility and agreed to merge, and Oclaro defendant help and abetting these irregularities.

The high court will leave January 31, 2013 final hearing.