SFMS Announces Preliminary Approval Of Settlement In FARO Technologies Securities Litigation

Shepherd, Finkelman, Miller & Shah, LLP announces that on June 2, 2008, the United States District Court for the Middle District of Florida, the Honorable Anne C. Conway presiding, preliminarily approved a settlement in a securities class action, which was filed on behalf of Lead Plaintiff, Kornitzer Capital Management, Inc. The Court approved the parties’ Stipulation of Settlement dated April 9, 2008. For settlement purposes, the Court preliminarily certified a class consisting of all persons who purchased or otherwise acquired the common stock and/or other publicly-traded securities of FARO Technologies, Inc. (“FARO”) during the period April 15, 2004 through and including March 15, 2006 (“Class”). Pursuant to the settlement, Class members will be entitled to a pro-rata share of the cash settlement based upon the number of eligible shares of common stock and/or other publicly-traded securities that a Class member purchased or otherwise acquired and the timing of the purchases and any sales. Notice and Proof of Claim Forms will be mailed via first class mail to the Class on or before July 2, 2008. A final settlement fairness hearing has been set before the Court for October 3, 2008.

For a copy of the Court’s Order Preliminarily Approving the Settlement, please click here.

For a copy of the Parties’ Stipulation of Settlement, please click here.

If you have questions concerning the settlement, please contact James E. Miller at 1-866-540-5505 or email jmiller@sfmslaw.com.