CHARLESTON, SC – November 26, 2010 – Summary Notice of Pendency And Proposed Settlement of Class Action for In Re Force Protection, Inc. Securities Litigation, Consolidated Civil Action No. 2:08-cv-845-CWH.
To: All persons who purchased Force Protection, Inc. (Force Protection) common stock from January 18, 2007 to March 14, 2008, inclusive (the Class)
YOU ARE HEREBY NOTIFIED that a settlement hearing will be held on January 25, 2011, at 11:00 a.m., before the Honorable C. Weston Houck, Senior United States District Judge, United States District Court for the District of South Carolina, Charleston Federal Courthouse, 85 Broad Street, Charleston, South Carolina 29401 (the Settlement Hearing). The Settlement Hearing is to consider a settlement with the Defendants in the above-captioned lawsuit (the Action) brought on behalf of the Class, as defined above. The purpose of the Settlement Hearing is to determine, among other things:
(1) whether the proposed settlement of the claims against the Defendants for the sum of $24,000,000 should be approved by the Court as fair, reasonable and adequate;
(2) whether, thereafter, the Action should be dismissed with prejudice against the Defendants;
(3) whether the Plan of Allocation is fair, reasonable and adequate and should be approved;
(4) whether the application of Lead Plaintiffs’ Co-Lead Counsel for the payment of attorneys’ fees and the reimbursement of expenses incurred in connection with prosecuting the Action should be approved; and
(5) whether Compensatory Awards should be granted to the Lead Plaintiffs.
If you purchased Force Protection common stock during the above-referenced period, you may be a member of the Class, and your rights may be affected by the proposed Settlement.
If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (the Notice), or obtained a copy of the Proof of Claim and Release, you may obtain copies of the same by contacting the Claims Administrator at 877-896-6933 or by downloading these documents at www.ForceProtectionClassAction.com. You may also download the complaint in the Action and the Stipulation of Settlement at the same site or at www.pomlaw.com or www.bermandevalerio.com. These documents are also available for review at the Court.
To participate in the Settlement, you must submit to the Claims Administrator a Proof of Claim and Release postmarked no later than March 11, 2011. To be excluded from the Class, and therefore be ineligible to participate in, but not bound by, the Settlement, you must do so in writing, to be received by the Claims Administrator no later than December 27, 2010. If you are a member of the Class and wish to file an objection to the Settlement, the Plan of Allocation, the request for attorneys’ fees and costs, and/or the request for Lead Plaintiff Compensatory Awards, you must do so, with documentation as set forth in the Notice.
Any such Person must submit a written notice of objection, which must be filed on or before December 27, 2010, with the CLERK OF THE COURT, United States District Court for the District of South Carolina, Charleston Federal Courthouse, 85 Broad Street, Charleston, SC 29401; and also served on or before December 27, 2010 upon: Brian C. Duffy, Duffy & Young, LLP, 96 Broad Street, Charleston, SC 29401; Jason S. Cowart, Esq., Pomerantz Haudek Block Grossman & Gross LLP, 100 Park Avenue, New York, NY 10017; Jeffrey C. Block, Berman DeValerio, One Liberty Square, Boston, MA 02109; M. Robert Thornton, King & Spalding LLP, 1180 Peachtree Street, NE, Atlanta, GA 30309; and Eleni M. Roumel, Nelson Mullins Riley & Scarborough LLP, 151 Meeting Street, Charleston, SC 29401.