AuthenTec, Inc. Shareholder Litigation
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Welcome to the AuthenTec, Inc. Shareholder Litigation Website

This website has been established to provide general information related to the proposed settlement of the AuthenTec, Inc. ("AuthenTec" or the "Company") Shareholder Litigation. The capitalized terms used on this website, and not defined herein, shall have the same meanings ascribed to them in the Stipulation and Agreement of Compromise and Settlement (the "Stipulation") dated July 14, 2016, which can be found and downloaded by clicking on the Case Documents tab above. 

This is a securities class action currently pending before the Honorable George W. Maxwell III of the Eighteenth Judicial Circuit in and for Brevard County, Florida (the “Court”), and the consolidated action is known as In re AuthenTec, Inc. Shareholder Litigation, No. 05-2012-CA-57589. The Court appointed the law firms of Robbins Geller Rudman & Dowd LLP and The Weiser Law Firm, P.C. to represent you and other Class Members. These lawyers are called Co-Lead Counsel. If you want to be represented by your own lawyer, you may hire one at your own expense and enter an appearance through your own counsel.

Class Members who timely submit a valid Proof of Claim form are eligible to participate in a fund of ten million dollars ($10,000,000.00). Specifically, after notice and claim administration expenses, as well as Co-Lead Counsel’s attorneys’ fees and expenses and any service awards to the Plaintiffs are deducted from the fund, Class Members shall then be paid a pro rata amount for each of their AuthenTec Shares participating in this option.

Background and Description of the Litigation

Plaintiffs filed a class action lawsuit claiming that AuthenTec’s board of directors breached their fiduciary duties by agreeing to sell AuthenTec to Apple Inc. (“Apple”) for $8.00 per share, and that Apple and its affiliate aided and abetted the alleged breaches of fiduciary duties. Plaintiffs allege that, inter alia, AuthenTec’s shares were undervalued in the sale of AuthenTec for $8.00 per share. Defendants deny that they engaged in, committed, or aided or abetted the commission of any breach of fiduciary duty, wrongdoing, or violation of law of any kind or engaged in any of the wrongful acts alleged in the Action or any other related actions that were filed and dismissed in connection with the Merger, and expressly maintain that they have diligently and scrupulously complied with any and all legal duties, and are entering into the Stipulation solely to eliminate the burden and expense of further litigation. The Settlement is not an admission of wrongdoing. The Settlement terms are explained in the Notice and above on this website.

Additional Information

The Class is defined as all AuthenTec common stockholders at any time during the period between and including July 27, 2012 and October 4, 2012, whether beneficial or of record, including the legal representatives, heirs, successors-in-interest, transferees, and assignees of all such foregoing holders.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation, both of which can be found and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.

Your Legal Rights and Options in this Settlement

Option #1 – Cash Payment: Submit a Proof of Claim Form for Payment from the $10 Million Common Fund You have the right to receive an additional cash payment for your AuthenTec Shares (owned as of October 4, 2012), to be paid from a $10 million Common Fund. Each Share will be paid the same amount from the fund, but the amount of payment per Share will depend on how many other Class Members make claims from the fund, and the amount of fees, costs, and expenses deducted from the fund. On the record date of August 30, 2012, there were 44,875,393 AuthenTec common shares outstanding and entitled to be voted at the October 4, 2012 special meeting. There is no way to determine, in advance, how many Class Members will make claims from the Common Fund. Shares held by Defendants and those persons or entities who are otherwise excluded from the Class will not receive any payment from the Common Fund for their Shares.
Option #2: Exclude Yourself from the Settlement Request exclusion from the lawsuit. Receive no Settlement benefits. Retain the right to bring your own claim/case.
Option #3: Do Nothing Receive nothing. Give up your rights to separately sue.

Important Dates and Deadlines

Submit a Claim Form December 21, 2016
Exclude Yourself October 21, 2016
Object October 27, 2016
Settlement Hearing November 17, 2016 at 11:45 a.m.