In Re Omnivision Technologies, Inc. 04-CV-2297-Declaration Of
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Case 3:04-cv-02297-SC Document 242 Filed 08/28/2007 Page 1 of 6 1 MILBERG WEISS LLP JEFF S. WESTERMAN (94559) 2 ELIZABETH P. LIN (174663) CHERYL A. WILLIAMS (193532) 3 MICHIYO MICHELLE FURUKAWA (234121) One California Plaza 4 300 South Grand Avenue, Suite 3900 Los Angeles, CA 90071 5 Telephone: (213) 617-1200 Facsimile: (213) 617-1975 6 Lead Counsel for Plaintiffs 7 GIRARD GIBBS LLP 8 DANIEL C. GIRARD (SBN 114826) JONATHAN K. LEVINE (SBN 220289) 9 AARON M. SHEANIN (SBN 214472) 601 California Street, Suite 1400 10 San Francisco, CA 94108 Telephone: (415) 981-4800 11 Facsimile: (415) 981-4846 12 Local Counsel for Plaintiffs 13 14 UNITED STATES DISTRICT COURT 15 NORTHERN DISTRICT OF CALIFORNIA 16 SAN FRANCISCO DIVISION 17 In re Master File No. C-04-2297 SC OMNIVISION TECHNOLOGIES, INC., 18 CLASS ACTION 19 DECLARATION OF ELIZABETH P. LIN IN This Document Relates To: SUPPORT OF PLAINTIFFS' RESPONSE TO 20 OBJECTIONS TO THE PROPOSED CASE NOS. 04-2297-SC; 04-2298-SC; 04- SETTLEMENT 21 2385-SC; 04-2410-SC; 04-2419-SC; 04-2425- SC; 04-2433-SC; 04-2474-SC; 04-2514-SC; DATE: September 7, 2007 22 04-2525-SC; 04-2570-SC; and 04-4350-SC TIME: 10;00 a.m. CTRM: 1, 17th Floor 23 JUDGE: Hon. Samuel Conti 24 25 26 27 28 ECL. OF LIN IN SUPPORT OF PLTFS' RESP. TO OBJECTIONS. TO PROPOSED SETTLEMENT Case No. C-04-2297 SC DOCS\412457v1 Case 3:04-cv-02297-SC Document 242 Filed 08/28/2007 Page 2 of 6 1 I, Elizabeth P. Lin, hereby declare: 2 I am an associate at Milberg Weiss LLP ("Milberg Weiss"). Lead Counsel for Plaintiffs in 3 this case. I submit this declaration in support of Plaintiffs' Response to Objections to the Proposed 4 Settlement. Attached hereto as Exhibits are true and correct copies of the following: 5 Exhibit A: The objection from Patricia A. Rivera and Elvin M. Rivera, dated July 30, 2007. 6 Exhibit B: The objection from James J. Hayes, dated August 13, 2007. 7 Exhibit C: The objection from Steve Wierzba, filed August 13, 2007. 8 Exhibit D: The Indictment in U.S.A v. Milberg Weiss Bershad & Schulman LLP. 9 Exhibit E: Statement of Facts in Support of David J. Bershad Plea Agreement and 10 Information. 11 Exhibit F: Order Granting Plaintiffs' Motion for Class Certification in In re Magma 12 Design Automation, Inc., Sec. Litig., dated August 16, 2007. 13 Exhibit G: Press Release dated July 22, 2007 by Theodore A. Bechtold. 14 Exhibit H : Reply to Motion for Protective Order from In re Initial Public Offering Sec. 15 Litig., filed May 16, 2007. 16 Exhibit I: New York State Unified Court System's Attorney Detail for Theodore Andrew 17 Bechtold. 18 Exhibit J: The letter addressed to DJ Clark at Wilson Sonsini, dated August 14, 2007. 19 Exhibit K: The letter addressed to Jeff Westerman at Milberg Weiss, dated August 14, 20 2007. 21 Exhibit L: In re Initial Public Offering Sec. Litig., 2007 U. S. Dist Lexis 42635 (S.D.N.Y. 22 June 11 , 2007). 23 Exhibit M: New York State Department of Labor Notice of Determination to Claimant and 24 State of New York Unemployment Insurance Appeal Board re Theodore A. 25 Bechtold. 26 Exhibit N: Press releases issued by Theodore A. Bechtold, dated March 27, 2007, April 10, 27 2007, and April 19, 2007. 28 ECL. OF LIN IN SUPPORT OF PLTFS' RESP. TO OBJECTIONS. TO PROPOSED SETTLEMENT - 1 - Case No. C-04-2297 SC DOCS\412457v1 Case 3:04-cv-02297-SC Document 242 Filed 08/28/2007 Page 3 of 6 1 Exhibit 0: Bechtold 's website: www.saveourstockmarket.com/AboutUs.html . 2 Exhibit P: The Notice of Pendency and Proposed Settlement of Class Action, Motion for 3 Attorneys' Fees and Settlement Fairness Hearing sent to Class Members. 4 I declare under penalty of perjury under the laws of the United States of America that the 5 foregoing is true and correct. Executed this 28th day of August, 2007 at Los Angeles, California. 6 7 /s/Elizabeth P. Lin 8 ELIZABETH P. LIN 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 ECL. OF LIN IN SUPPORT OF PLTFS' RESP. TO OBJECTIONS. TO PROPOSED SETTLEMENT - 2 - Case No. C-04-2297 SC DOCS\412457v1 Case 3:04-cv-02297-SC Document 242 Filed 08/28/2007 Page 4 of 6 1 DECLARATION OF SERVICE BY MAIL 2 3 I, the undersigned, declare: 4 1. That declarant is and was, at all times herein mentioned, employed in the County o 5 Los Angeles, over the age of 18 years, and not a party to or interest in the within action; the 6 declarant's business address is One California Plaza, 300 South Grand Avenue, Suite 3900, Lo 7 Angeles, California 90071-3149. 8 2. That on August 28, 2007, declarant served the DECLARATION O] 9 ELIZABETH P. LIN IN SUPPORT OF PLAINTIFFS' RESPONSE TO OBJECTIONS T( 10 THE PROPOSED SETTLEMENT by depositing a true copy thereof in a United States mailbox 11 at Los Angeles, California in a sealed envelope with postage thereon fully prepaid and addresses 12 to the parties listed on the attached Service List. 13 3. That there is a regular communication by mail between the place of mailing and th, 14 places so addressed. 15 I declare under penalty of perjury that the foregoing is true and correct. Executed this 28t] 16 day of August, 2007, at Los Angeles, California. 17 18 19 ETH 20 21 22 23 24 25 26 27 28 ECL. OF LIN IN SUPPORT OF PLTFS' RESP. TO OBJECTIONS. TO PROPOSED SETTLEMENT F7-] Case No. C-04-2297 SC DOCS\412457v1 Case 3:04-cv-02297-SC Document 242 Filed 08/28/2007 Page 5 of 6 OMNIVISION SERVICE LIST 2 3 Counselfor Plaintiffs 4 Jeff S. Westerman Eric T. Chaffin Cheryl A. Williams Rick M. Barreca 5 Elizabeth P. Lin SEEGER WEISS LLP Michiyo Michelle Furukawa One William Street 6 MILBERG WEISS LLP New York, NY 10004 One California Plaza Telephone: (212) 584-0700 7 300 S. Grand Avenue, Suite 3900 Facsimile: (212) 584-0799 Los Angeles, CA 90071 8 Telephone: (213) 617-1200 Facsimile: (213) 617-1975 9 Daniel C. Girard Charles J. Piven 10 Jonathan K. Levine BROWER PIVEN, Aaron M. Sheanin A PROFESSIONAL ASSOCIATION 11 GIRARD GIBBS LLP The World Trade Center-Baltimore 601 California Street, Suite 1400 401 East Pratt Street, Suite 2525 12 San Francisco, CA 94108 Baltimore, Maryland 21202 Telephone: (415) 981-4800 Telephone: (410) 332-0030 13 Facsimile: (415) 981-4846 Facsimile: (410) 685-1300 14 Thomas J. McKenna 15 GAINEY & MCKENNA 295 Madison Avenue, 4th Floor 16 New York, NY 10017 Telephone: (212) 983-1300 17 Facsimile: (212) 983-0383 18 Counsel for Defendants 19 Jenny L. Dixon Douglas J. Clark WILSON SONSINI GOODRICH & ROSATI Jared L. Kopel 20 One Market, Spear Tower, Suite 3300 Cameron P. Hoffman San Francisco, CA 94105 Kelley E. Moohr 21 Telephone: (415) 947-2000 WILSON SONSINI GOODRICH Facsimile: (415) 947-2099 & ROSATI 22 650 Page Mill Road Palo Alto, CA 94304-1050 23 Telephone: (650) 493-9300 Facsimile: (650) 493-6811 24 Attorneyfor Omnivision Technologies, Inc., 25 Shaw Hong, John T. Rossi, H. Gene McCown, and Raymond Wu. 26 27 28 -4- DOCS\412457v1 Case 3 : 04-cv-02297-SC Document 242 Filed 08/28/2007 Page 6 of 6 1 Courtesy Copy to: 2 Patricia A. Rivera Elvin M. Rivera 3 1515 Fox River Run 4 Mukwonago, WI 53149 5 James J. Hayes 4024 Estabrook Drive 6 Annandale, VA 22003 7 Steven Wierzba 8 823 Paloma Ave. Oakland, CA 94610 9 Theodore A. Bechtold 10 310 94th Street 11 Brooklyn, NY 11209 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 -5- DOCS\412457v1 Case 3:04-cv-02297-SC Document 242-2 Filed 08/28/2007 Page 1 of 3 Exhibit A Case 3:04-cv-02297-SC Document 242-2 Filed 08/28/2007 Page 2 of 3 July 30, 2007 AUG 0 2 2007 COURT Clerk of the Court United States District Court for the Northern District of California United States Courthouse 450 Golden Gate Avenue San Francisco, CA 94102 RE: OmniVision Technologies, Inc Master File No. C-04-2297-SC I am writing to state that I object to the terms of the proposed settlement. Specifically, I object to the provision that the stock must have been purchased after June 11, 2003 and if sold prior to the close of trading on June 8, 2004, there will be no Recognized Claim. REQUESTED BACKGROUND INFORMATION Name: Patricia A. Rivera & Elvin M. Rivera A. Ten Address: 1515 Fox River Run' Mukwonago, WI 53149 Telephone:" 1 -262-3 78-4208 Number of Shares purchased and sold between June 11, 2003 and June 9, 2004: 355 OBJECTION I believe that shareholders, myself included, who purchased shares after the June 11, 2003 date, but sold them prior to June 9, 2004 simply because the "handwriting was already on the wall'.', meaning it was already apparent that OmniVision. Technologies was having financial difficulties,should be awarded a portion of the Settlement. The current Settlement terms are not favorable for those shareholders who were proactive in protecting .their investment before further losses were incurred and perhaps sold their shares 15 days, 21 days or even 30 days earlier. I recommend that the settlement terms be changed to quarterly timeframes, with the projected payout on a sliding scale.