JAMDAT Mobile Class Action

You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of February 6, 2012 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, FOLLOW THE DIRECTIONS IN THE "PROOF".

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
JAMDAT Mobile
Case Name: 
JAMDAT Mobilt Class Action 02/15/2006
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NASDAQ: JMDT
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
02/15/2006
Class Period Begin: 
12/08/2005
Class Period End: 
02/15/2006
Court of Filing: 
Superior Court of the State of California
Date Settled: 
01/10/2012
Settlement Amount: 
$4,750,000
Deadline to Participate in Settlement: 
02/06/2012
Settlement Notice: 
application/pdf iconJAMDAT_Mobile_Notice_2011.pdf
Settlement Proof: 
application/pdf iconJAMDAT_Mobile_Proof_2011.pdf
Summary: 

OCTOBER 2011 - According to the Notice:

The settlement resolves a lawsuit alleging that the members of JAMDAT’s board of directors (Defendants J. William Gurley, Mitch Lasky, Michael M. Lynton, Henk B. Rogers, and Paul A. Vais) breached their fiduciary duties to the shareholders of JAMDAT in connection with the February 15, 2006 acquisition of JAMDAT by EA at the price of $27.00 per share (the “Acquisition”). The suit includes claims that the disclosures concerning the Acquisition were deficient, that the directors (except for Mr. Lynton) were interested in the transaction, and that the Acquisition price was inadequate. Defendants have denied, and continue to deny, those claims and allegations.

The settlement, which has been agreed to by both sides to avoid the cost and risk of continued litigation, provides for the payment of $4,750,000 by Defendants’ insurers for the benefit of all Persons who held JAMDAT common stock as of December 8, 2005 and who held such shares through February 15, 2006, the date of the consummation of the Acquisition of JAMDAT by EA for $27.00 per share, excluding Defendants and any Person, firm, trust, corporation or other entity related to or affiliated with any Defendant. Your recovery will depend on the number of eligible shares of common stock held by other Class Members that participate in the settlement by filing valid Proof of Claim and Release forms (“Proof of Claim”).

Class Plaintiff believes that the settlement provides a substantial recovery now and avoids the costs and risks associated with continued litigation, including the danger of no recovery for the Class.

Plaintiffs’ Counsel have not received any payment for conducting this lawsuit and negotiating the settlement on behalf of the Class. Plaintiffs’ Counsel will ask the Court for attorneys’ fees of 27% of the Settlement Fund and payment of expenses not to exceed $200,000 to be paid from the Settlement Fund.