Court to Notify Brocade Communications Investors of $160,000,000 Settlement of Class Action Lawsuit

SAN FRANCISCO, Dec. 12  /PRNewswire-FirstCall/ -- A Federal Court has ordered notice be given to those who purchased or otherwise acquired the common stock of Brocade Communications Systems, Inc. ("Brocade") between May 18, 2000 and May 15, 2005, informing them that a class has been certified and that a settlement of $160,098,500 has been proposed. This settlement will be comprised of the following payments: (i) $160,000,000 by defendant Brocade Communications Systems, Inc. ("Brocade") and (ii) $98,500 by defendant KPMG LLP ("KPMG," and collectively with Brocade, the "Settling Defendants").

A hearing will be held before the Honorable Charles R. Breyer in the United States District Court for the Northern District of California, San Francisco Division, U.S. Courthouse, 450 Golden Gate Avenue, 19th Floor, Courtroom 8, San Francisco, CA 94102 at 10:00 a.m., on January 23, 2009 to determine whether: (1) the proposed settlement should be approved by the Court as fair, reasonable, adequate and in the best interests of the Class; (2) Class Counsel's application for an award of attorneys' fees and reimbursement of expenses and Class Representatives' application for reimbursement of costs and expenses should be approved; (3) the Court should dismiss with prejudice and release all claims against the Settling Defendants and current and former Brocade officers and directors Gregory Reyes, Antonio Canova, Larry Sonsini, Seth Neiman, and Neal Dempsey relating to the conduct alleged in this case; and (4) the Court should rule on such other matters as the Court deems appropriate.

If approved, the Settlement will resolve all claims in this litigation as further described in the full printed Notice of Class Action, Proposed Settlement, Motion for Attorneys' Fees and Fairness Hearing (the "Notice").

Members of the class described above may be entitled to share in the settlement fund and their rights will be affected whether they act or not. Those who have not yet received the full printed Notice and/or Proof of Claim and Release form ("Proof of Claim") explaining, among other things, how to make a claim to participate in the settlement or how to exclude themselves from the settlement, may obtain copies of these documents by downloading them from the website http://www.brocadeclasssettlement.com/ or by contacting the Claims Administrator:

  In Re Brocade Securities Litigation Settlement
  c/o Epiq Systems, Inc.
  Claims Administrator
  P.O. Box 3266
  Portland, OR 97208
  1-877-507-4370



Inquiries, other than requests for the forms of Notice and Proof of Claim, may be made to Class Counsel:

  Jeffrey J. Angelovich, Esq.
  Bradley E. Beckworth, Esq.
  Nix, Patterson & Roach, LLP
  205 Linda Drive
  Daingerfield, Texas 78638



To participate in the settlement, Class members must submit a Proof of Claim to the Claims Administrator, postmarked no later than March 30, 2009. The deadline for submitting objections to the settlement and requesting exclusion from the settlement is January 9, 2009. Further information may also be obtained by directing inquiries in writing to the Claims Administrator, Epiq Systems, Inc., at the address listed above. Class members may also call 1-877-507-4370 or visit http://www.brocadeclasssettlement.com/ for more information. 

DATASOURCE: Brocade Securities Litigation Settlement Administration;



CONTACT:  Class Counsel, Jeffrey J. Angelovich, Esq., of Nix, Patterson &

Roach, LLP, [phone], for Brocade Securities Litigation Settlement

Administration and Epiq Systems, Inc.



Web site:  http://www.brocadeclasssettlement.com/ 

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