InterCloud Securities Litigation
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Welcome to the InterCloud Securities Litigation Website

This website has been established to provide general information related to the proposed settlement ("Settlement") of the action captioned In re InterCloud Systems, Inc. Securities Litigation, Master Docket No. 3:14-01982-PGS-DEA (the "Litigation"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated July 26, 2017, which can be found and downloaded by clicking on the Case Documents tab above.

This Litigation is currently pending in the United States District Court for the District of New Jersey (the “Court”) before the Honorable Peter G. Sheridan. The person that leads the Litigation, Charles R. Gilbert, Jr., is called the Lead Plaintiff and the entities he sued, InterCloud Systems, Inc. ("InterCloud" or the "Company") and Mark E. Munro, are together called the Defendants.  The Court appointed the law firm of Robbins Geller Rudman & Dowd LLP as Lead Counsel.

Lead Plaintiff alleges that Defendants violated sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by disseminating false and misleading analyst reports into the market concerning the Company’s growth prospects, which were actually paid for by the Company, and first approved by InterCloud’s management, without investors’ knowledge.

Defendants deny, and continue to deny, all allegations of liability, fault or wrongdoing whatsoever in connection with this matter. The Court has not decided in favor of Defendants or in favor of Lead Plaintiff. Instead, both sides agreed to the Settlement to avoid the distraction, costs and risks of further litigation, and Lead Plaintiff agreed to the Settlement in order to ensure that Class Members will receive compensation.

The Settlement provides that, in exchange for the release of the Released Claims and dismissal of the Litigation, Defendants and/or their insurance carrier have agreed to pay (or cause to be paid) $2.7 million in cash to be distributed after taxes, fees, and expenses, pro rata, to Class Members who send in or submit a valid Proof of Claim and Release.

The Class includes all Persons who purchased or otherwise acquired InterCloud common stock during the period from December 3, 2013, through and including March 27, 2014. Excluded from the Class are: Defendants, the officers and directors of InterCloud during the Class Period, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which Defendants have or had a controlling interest. Also excluded from the Class is any Class Member who submits a valid and timely request for exclusion in accordance with the requirements set forth in the Notice of Proposed Settlement of Class Action, which can be found and downloaded from the Case Documents tab above.

Although the information in this website is intended to assist you, it does not replace the information contained in the relevant case documents found on the Case Documents tab above. We recommend that you read the relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

Submit a Proof of Claim The only way to be eligible to receive a payment from the Settlement. Proofs of Claim must be postmarked (if mailed) or received (if submitted online) on or before January 12, 2018.
Exclude Yourself Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement. Exclusions must be postmarked on or before November 13, 2017.
Object Write to the Court about why you do not like the Settlement, the Plan of Allocation and/or the request for attorneys’ fees and expenses. You will still be a Member of the Class. Objections must be received by the Court and counsel for the Settling Parties on or before November 13, 2017.
Go to the Hearing on December 5, 2017, at 10:30 A.M. ET Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel for the Settling Parties on or before November 13, 2017.
Do Nothing Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.

IMPORTANT DATES AND DEADLINES

Submit Claim January 12, 2018
Request Exclusion November 13, 2017
File Objection November 13, 2017
Court Hearing on Fairness of Settlement December 5, 2017, at 10:30 A.M. ET