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Robbins Geller Rudman & Dowd LLP and Bottini & Bottini, Inc. Announce Proposed Settlement in the Veeco Instruments Securities Settlement

By: via Business Wire

The following statement is being issued by Robbins Geller Rudman & Dowd LLP and Bottini & Bottini, Inc. regarding the Veeco Instruments Securities Settlement:

SUPERIOR COURT OF THE STATE OF CALIFORNIA

COUNTY OF SANTA CLARA

MATT WOLTHER, Individually and on

Behalf of All Others Similarly Situated,

Plaintiff,

vs.

SHUBHAM MAHESHWARI, et al.,

Defendants.

)

)

)

)

)

)

)

)

Lead Case No. 18CV329690

(Consolidated with No. 18CV332463 and

No. 18CV332644)

CLASS ACTION

TO: ALL PERSONS WHO ACQUIRED VEECO INSTRUMENTS, INC. (“VEECO” OR THE “COMPANY”) COMMON STOCK IN EXCHANGE FOR ULTRATECH, INC. (“ULTRATECH”) COMMON STOCK PURSUANT TO THE REGISTRATION STATEMENT AND PROSPECTUS ISSUED IN CONNECTION WITH VEECO’S MAY 26, 2017 MERGER WITH ULTRATECH

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on April 21, 2022, at 1:30 p.m., before the Honorable Sunil R. Kulkarni at the Superior Court of California, County of Santa Clara, Department 1, 191 North First Street, San Jose, CA 95113, to determine whether: (1) the proposed settlement (“Settlement”) of the above-captioned action as set forth in the Amended Stipulation of Settlement (“Stipulation”)1 for $15,000,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) the Judgment as provided under the Stipulation should be entered; (3) to award Plaintiffs’ Counsel attorneys’ fees and expenses out of the Settlement Fund (as defined in the Notice of Proposed Settlement of Class Action (“Notice”), which is discussed below) and, if so, in what amount; (4) to pay Class Representatives for representing the Class out of the Settlement Fund and, if so, in what amount; and (5) the Plan of Allocation should be approved by the Court as fair, reasonable, and adequate.

This Action is a consolidated securities class action brought on behalf of those persons who acquired Veeco common stock pursuant or traceable to the registration statement and prospectus issued in connection with Veeco’s merger with Ultratech, against Veeco and certain of its officers and directors (collectively, “Defendants”) for, among other things, allegedly misstating and omitting material facts from the registration statement and prospectus filed in connection with the Merger. Plaintiffs allege that these purportedly false and misleading statements resulted in damage to Class Members when the truth was revealed. Defendants deny all of Plaintiffs’ allegations.

IF YOU ACQUIRED VEECO COMMON STOCK IN THE MERGER WITH ULTRATECH, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION.

To share in the distribution of the Settlement Fund, you must establish your rights by submitting a Proof of Claim and Release form (“Proof of Claim”) by mail (postmarked no later than March 22, 2022) or electronically (no later than March 22, 2022). Your failure to timely submit your Proof of Claim will subject your claim to rejection and preclude your receiving any of the recovery in connection with the Settlement of this Action. If you are a member of the Class and do not request exclusion therefrom, you will be bound by the Settlement and any judgment and release entered in the Action, whether or not you submit a Proof of Claim.

If you have not received a copy of the Notice, which more completely describes the Settlement and your rights thereunder (including your right to object to the Settlement), and a Proof of Claim, you may obtain these documents, as well as a copy of the Stipulation (which, among other things, contains definitions for the defined terms used in this Summary Notice) and other settlement documents, online at www.VeecoSecuritiesSettlement.com, or by writing to:

Veeco Securities Settlement

c/o Gilardi & Co. LLC

P.O. Box 43384

Providence, RI 02940-3384

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the Court.

Inquiries, other than requests for the Notice or for a Proof of Claim, may be made to Class Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP

Ellen Gusikoff Stewart

655 West Broadway, Suite 1900

San Diego, CA 92101

Telephone: 1-800-449-4900

BOTTINI & BOTTINI, INC.

Francis A. Bottini Jr.

7817 Ivanhoe Avenue, Suite 102

La Jolla, CA 92037

Telephone: 1-858-914-2001

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR EXCLUSION SUCH THAT IT IS POSTMARKED BY FEBRUARY 21, 2022, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE CLASS WILL BE BOUND BY THE SETTLEMENT EVEN IF THEY DO NOT SUBMIT A TIMELY PROOF OF CLAIM.

IF YOU ARE A CLASS MEMBER, YOU HAVE THE RIGHT TO OBJECT TO THE SETTLEMENT, THE PLAN OF ALLOCATION, THE REQUEST BY PLAINTIFFS’ COUNSEL FOR AN AWARD OF ATTORNEYS’ FEES OF 33 1/3% OF THE SETTLEMENT FUND (OR $5,000,000) AND EXPENSES NOT TO EXCEED $175,000, AND/OR THE PAYMENT TO CLASS REPRESENTATIVES NOT TO EXCEED $20,000 IN THE AGGREGATE FOR REPRESENTING THE CLASS. ANY WRITTEN OBJECTIONS MUST BE FILED WITH THE COURT AND SENT TO CLASS COUNSEL AND DEFENDANTS’ COUNSEL BY FEBRUARY 21, 2022, IN THE MANNER AND FORM EXPLAINED IN THE NOTICE. YOU MAY ALSO MAKE AN ORAL OBJECTION AT THE SETTLEMENT FAIRNESS HEARING WITHOUT SUBMITTING A WRITTEN OBJECTION.

DATED: December 1, 2021

BY ORDER OF THE SUPERIOR

COURT OF CALIFORNIA, COUNTY

OF SANTA CLARA

 

1 The Stipulation can be viewed and/or obtained at www.VeecoSecuritiesSettlement.com.

Contacts

Media:

Robbins Geller Rudman & Dowd LLP

Shareholder Relations

Rick Nelson­­

1-619-231-1058

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