Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-5_06-cv-06304/USCOURTS-cand-5_06-cv-06304-6/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:78m(a) Securities Exchange Act

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United States District Court

For the Northern District of California

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ORDER RE: PRELIMINARY SETTLEMENT—No. C-06-06304 RMW

MAG

United States District Court

For the Northern District of California

E-FILED on 10/10/07

IN THE UNITED STATES DISTRICT COURT

FOR THE NORTHERN DISTRICT OF CALIFORNIA

SAN JOSE DIVISION

In re TVIA INC. SECURITIES LITIGATION

This Documents Relates To:

 All Actions

No. C-06-06304 RMW

ORDER RE: PRELIMINARY SETTLEMENT

[Re Docket No. 52]

On October 4, 2007, the parties filed a Stipulation and Proposed Order Preliminarily

Approving Settlement and Providing for Notice ("Stipulation"). The court has identified a few

concerns with the documents submitted for its approval. 

First, as regards the Stipulation and the Notice of Pendency and Proposed Settlement of

Class Action ("Notice"), the court finds the procedures established by the parties for objecting to the

settlement to be overly burdensome. Stipulation ¶ 17; Notice at 8. As currently set forth, any class

member wishing to object to the terms of the settlement and appear at the settlement hearing must

send the objection to seven different addresses: the court, two plaintiff firms, and four defense firms. 

However, a class member seeking to object should only be required to notify the court and one of

each of plaintiff's and defendant's counsel. The plaintiff's counsel selected to receive objections

shall notify the other plaintiff's counsel; the defendant's counsel selected, shall notify all other

Case 5:06-cv-06304-RMW Document 53 Filed 10/10/07 Page 1 of 3
United States District Court

For the Northern District of California

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ORDER RE: PRELIMINARY SETTLEMENT—No. C-06-06304 RMW

MAG 2

defendants or defendant's counsel, as appropriate. The Stipulation and the Notice should be revised

accordingly.

Second, the Summary Notice does not specify the amount of attorney's fees and award to

lead plaintiff to be sought. The Summary Notice should be revised to reflect this information. 

Further, the parties should note that although the court does not object to the Notice and Summary

Notice stating that plaintiff's counsel will be seeking fees and costs amounting to one third of the

settlement, they should be aware that the court will have to carefully review the justification for

attorney's fees. Further, the court's policy is not to award a percentage of the gross settlement fund,

rather only a percentage of the net settlement.

Third, the parties should note that any settlement hearing will be held before this court in

2008, not 2007. All documents should be revised accordingly.

The court will preliminarily approve the settlement provided that the above changes are

made to the Stipulation, Notice and Summary Notice. If the parties would like to preserve the

January 18, 2008 date requested for the final settlement hearing, they should resubmit the amended

documents for the court's approval by Friday, October 12, 2007.

DATED: 10/10/07

RONALD M. WHYTE

United States District Judge

Case 5:06-cv-06304-RMW Document 53 Filed 10/10/07 Page 2 of 3
United States District Court

For the Northern District of California

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ORDER RE: PRELIMINARY SETTLEMENT—No. C-06-06304 RMW

MAG 3

Notice of this document has been electronically sent to:

Counsel for Plaintiff:

Laurence M. Rosen lrosen@rosenlegal.com

Lionel Z. Glancy info@glancylaw.com

Phillip P Kim pkim@rosenlegal.com

Counsel for Defendants:

Solomon B. Cera scera@gbcslaw.com

Bruce A. Ericson bruce.ericson@pillsburylaw.com

Gwendolyn R. Giblin ggiblin@gbcslaw.com

Andrew Dale Lanphere alanphere@pillsburywinthrop.com

Walter Jesse Robinson , III wrobinson@pillsburylaw.com

Counsel are responsible for distributing copies of this document to co-counsel that have not

registered for e-filing under the court's CM/ECF program.

Dated: 10/10/07 /s/ MAG

Chambers of Judge Whyte

Case 5:06-cv-06304-RMW Document 53 Filed 10/10/07 Page 3 of 3