Nexcen
Practice Area: Securities Fraud
Cohen Milstein is the Lead Counsel in this securities class action, which is pending in the United States District Court for the Southern District of New York. The Lead Plaintiff, acting on behalf of the proposed class, has alleged that the Defendants in the case engaged in securities fraud by making false and misleading statements about NexCen’s financial condition and its ability to fund an aggressive program of acquisitions. The Defendants deny that they did anything wrong.
Cohen Milstein has negotiated and requested that the Court approve a settlement of this lawsuit. The settlement requires that the Defendants’ insurer pay $4 million, which will be used to compensate class members, administer the settlement and to pay the costs and fees of the litigation. The Court will review and rule on the terms of the settlement and the fee petition of Cohen Milstein and its co-counsel. On November 1, 2011 Cohen Milstein filed a motion asking the Court to grant final approval of the proposed settlement and a requested award of attorneys’ fees in the case.
Further information on this case and the proposed settlement, including the claim form, the Court-approved notice to class members and the motion requesting final approval of the settlement and the requested award of attorneys’ fees is available under the “Case Documents” heading to the left. The notice sets out important deadlines for objecting to the proposed settlement and for claiming a payment from the fund that would be created if the settlement is approved. Please read the notice if you believe you are a class member, and contact Cohen Milstein or the Administrator listed in the notice if you have a question.