BOSTON, Oct. 13, 2003 (PRIMEZONE) -- Dennis Johnson of Johnson & Perkinson; Brad Friedman of Milberg Weiss Bershad Hynes & Lerach LLP; and Michael Jaffe of Wolf Haldenstein Adler Freeman & Herz LLP announce a proposed Class Action Settlement on behalf of all purchasers of Allaire Corporation ("Allaire") common stock (Nasdaq:ALLR) between December 7, 1999 and September 18, 2000, inclusive (the "Class").
Pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the U.S. District Court for the District of Massachusetts, a hearing will be held before the Honorable William G. Young, United States District Judge on December 1, 2003 at 2:00 p.m. in Courtroom 18 of the United States Courthouse, One Courthouse Way, Boston, Massachusetts 02210, to determine whether:
1. A Class should be finally certified for settlement purposes;
2. A proposed settlement of the Action for $12,026,000, plus
interest, is fair, reasonable and adequate and should be approved
by the Court;
3. An Order and Final Judgment should be entered dismissing all
claims against the Defendants with prejudice, and without costs;
4. A proposed Plan of Allocation of the settlement fund should be
approved; and
5. To award attorneys' fees and expenses requested by Plaintiffs'
Counsel.
IF YOU PURCHASED SHARES OF ALLAIRE DURING THE ABOVE REFERENCED PERIOD, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action, Conditional Class Determination, Proposed Settlement of Class Action, Settlement Fairness Hearing, Application For Attorneys' Fees and Right to Share in the Net Settlement Fund (the "Class Notice"), and a Proof of Claim form, you may obtain copies of these documents by contacting:
Strategic Claims Services2710 Concord RoadSuite 5Aston, PA 190141-866-274-4004
You may also review the Settlement papers at www.strategicclaims.org.
Inquiries, other than requests for the Class Notice and the Proof of Claim Form, may be made to Plaintiffs' Lead Counsel: Dennis Johnson of Johnson & Perkinson, 1690 Williston Road, South Burlington, VT 05403, (802) 862-0030; Brad Friedman of Milberg Weiss Bershad Hynes & Lerach LLP, One Pennsylvania Plaza, New York, NY 10119, (212) 594-5300; or Michael Jaffe of Wolf Haldenstein Adler Freeman & Herz LLP, 270 Madison Avenue, New York, NY 10016, (212) 545-4600.
To participate in the settlement, you must submit a Proof of Claim no later than December 18, 2003. If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Order and Final Judgment of the Court, and will have released claims that you otherwise may have been able to assert. To exclude yourself from the Class, you must submit a request for exclusion postmarked no later than November 18, 2003. If you are a Class Member and do not submit a proper Proof of Claim, you will not share in the settlement but you nevertheless will be bound by the Order and Final Judgment of the Court.
Further information may be obtained by contacting the Claims Administrator.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca