Westaff Agrees to Settlement In Shareholder Class Action
January 2011 - If you owned Westaff, Inc. common stock as of the close of trading on February 20, 2009 or exchanged your shares for the right to receive $1.25 in cash in the Merger, your rights may be affected by the Settlement of this action. The Rosen Law Firm, P.A. announced that the Superior Court of the State of California County of Contra Costa has approved a proposed class action settlement that would benefit owners of common stock of Westaff, Inc. (Nasdaq:WSTF). A hearing will be held on April 27, 2011 at 2:00 p.m. before a Superior Court Judge of the Superior Court for the State of California for the purpose of determining: (1) whether the proposed Settlement consisting of the sum of $1,642,500, plus interest, should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the settlement proceeds is fair, reasonable and adequate; (3) whether the application for an award of attorneys' fees of one-third of the Settlement Amount and reimbursement of expenses of not more than $90,000 should be approved; and (4) whether the Litigation should be dismissed with prejudice.