The United States District Court for the Northern District of Illinois, Eastern Division (the “Court”) previously issued an order certifying Makor Issues & Rights, Ltd., et al. v. Tellabs, Inc., et al., Case No. 02 C 4356 (the “Action”) as a class action on behalf of all persons who purchased Tellabs, Inc. common stock during the period from December 11, 2000 through June 19, 2001, inclusive.  As more fully described in the Notice of Pendency, anyone who wished to exclude themselves from the Class was required to mail a exclusion request to the Notice Administrator by May 10, 2010.  If you previously requested exclusion, you are not a member of the Class.  No further requests for exclusion are allowed at this time.

A Stipulation and Agreement of Settlement dated April 1, 2011 was entered, settling this action for a $7,375,000 Settlement Fund for the Class.

The proponents of the Settlement filed their papers in support of the Settlement and the application for attorneys’ fees and expenses on June 6, 2011.  Copies of those papers are available here.

The deadline for filing any objections to the Settlement and/or the application for attorneys’ fees and expenses was July 7, 2011.  No objections were filed by any class member.

The proposed Settlement  was the subject of a Settlement Fairness Hearing  held on July 26, 2011.  On that date the Court entered an Order and Final Judgment (“Final Order”), approving the Settlement as fair, reasonable and adequate with respect to the Class and Class Members.  The Final Order further dismissed the Second Consolidated Amended Class Action Complaint, approved the Plan of Allocation and awarded Plaintiff’s Counsel the requested amount of attorneys’ fees and reimbursement of expenses.

Class Members must submit Proof of Claim forms to share in the Net Settlement Fund.  The deadline for submitting Proofs of Claim is September 2, 2011.

The information provided above is in summary form and not intended as a complete description of the Action or the Settlement.  For more complete information, you may  review the documents available in the Settlement Documents and Case Documents sections.