Keller Lenkner LLC Announces a Proposed Class Action in Spencer Wong, v Arlo Technologies, Inc., et al., Case No: 5-19-cv-00372-BLF.

CHICAGO, Oct. 16, 2020 /PRNewswire/ -- To all persons or entities who purchased or otherwise acquired Arlo Common Stock during the period from August 3, 2018 through December 2, 2018, inclusive, including stock purchased in or traceable to the public offering of Arlo common stock conducted on or around August 7, 2018.

YOU ARE HEREBY NOTIFIED, a hearing will be held on March 11, 2021, at 11:00 a.m., before the Honorable Beth Labson Freeman in Courtroom 3, 5^th floor of the United States District Court for the Northern District of California, San Jose Courthouse, 280 S. 1^st Street, San Jose, CA 95113,¹ to determine: (1) whether the proposed Settlement for $1,250,000.00 in cash should be approved by the Court as fair, reasonable, and adequate; (2) whether the Action should be dismissed with prejudice as set forth in the Stipulation and Agreement of Settlement ("Stipulation"), filed with the Court; (3) whether the proposed plan to distribute the settlement proceeds is fair, reasonable, and adequate; (4) whether the application of Lead Plaintiff for a reimbursement of reasonable costs and expenses should be approved; and (5) whether the application of Lead Counsel for the payment of attorneys' fees and reimbursement of expenses incurred in connection with the Action should be approved.  As set forth in the Stipulation, Defendants have the right to terminate the Settlement if certain conditions arise.

If you purchased Arlo common stock during the period August 3, 2018 to December 2, 2018, inclusive, including stock purchased in or traceable to the public offering of Arlo common stock conducted on or around August 7, 2018, your rights may be affected by this Settlement.  If you have not received the detailed Notice of Proposed Settlement of Class Action, you may obtain copies by writing to Arlo Securities Litigation, c/o Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103 or at www.ArloSecuritiesLitigation.com.  You may also obtain a copy by accessing the Court docket for this case, Case No. 19-cv-00372, for a fee, through the Court's Public Access to Court Electronic Records (PACER) system at https://ecf.cand.uscourts.gov, or by visiting the office of the Clerk of the Court for the United States District Court for the Northern District of California, San Jose division, between 9:00 a.m. and 4:00 p.m., Monday through Friday, excluding Court holidays.  Settlement Class Members are required to mail in a proof of claim postmarked no later than February 25, 2021 to participate in the Settlement.  If you have already mailed a claim, there is no need to mail another in response to this advertisement.

The exact recovery received by each Settlement Class Member is determined by the Plan of Allocation.  Under the Plan of Allocation, some Settlement Class Members will receive nothing but will nonetheless give up their right to pursue the released claims against released persons.  Please consider the above in light of all options available.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about this Notice, contact Lead Counsel, Arlo Securities Litigation, c/o Keller Lenkner LLC, 150 N. Riverside Plaza, Suite 4270, Chicago, IL 60606, by email [email protected], or by telephone at (312) 776-2920.

By order of the United States District Court for the Northern District of California.

¹ Due to the ongoing coronavirus pandemic, the hearing may be held over Zoom conference. Please check the United States Court for the Northern District of California website for the latest COVID-19 protocols.

Media Contact:
Angeion Group
Douglas S. Clauson
Director, Communications
(215)-563-4116

SOURCE Keller Lenkner LLC