Veritas Software Corp. Securities Litigation

The parties have reached a settlement in the amount of $21.5 million in the Veritas Software Corp. Securities Litigation, Civ. No. 04-831-SLR (D. Del.). The settlement is on behalf of a Class of persons who purchased or acquired Veritas’ publicly traded securities, including persons who sold put options or bought call options, between April 23, 2003 and July 6, 2004.

On August 6, 2008, the Court granted final approval of the Settlement in this action. Distribution of the settlement fund was delayed pending an appeal by two putative class members of the Court’s award of attorneys’ fees. On Octobet 4, 2010, the Third Circut Court of Appeals entered an order rejecting the appeal of the District Court’s award of attorneys’ fees. A motion for distribution of the settlement fund was filed in January 2011. The Court has approved distribution of the settlement and the settlement fund is currently being distributed to class members.