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Summary Notice Of Pendency Of Class Action, Proposed Settlement And Settlement Hearing In Re CareScience, Inc. (CARE) Securities Litigation


10/19/2005 5:10:51 PM

PHILADELPHIA, Aug. 18 /PRNewswire/ -- The following statement is being issued by the law firms of Berger & Montague, P.C. and Schiffrin & Barroway, LLP regarding the In Re CareScience, Inc. Securities Litigation.

UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA In re CareScience, Inc. Master File Securities Litigation No. 01-5266 SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT AND SETTLEMENT HEARING TO: ALL PURCHASERS OF THE COMMON STOCK OF CARESCIENCE, INC. ("CARESCIENCE") FROM JUNE 28, 2000 TO NOVEMBER 1, 2000, INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the above-captioned action has been certified as a class action and that a settlement for $3,300,000 has been proposed. A hearing will be held before the Honorable Petrese B. Tucker in the United States Courthouse, 601 Market Street, Philadelphia, Pennsylvania 19106, at 9:00 a.m., on October 27, 2004 to determine whether the proposed settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the motion of Plaintiffs' Counsel for attorneys' fees and reimbursement of expenses.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action, Hearing on Proposed Settlement and Motion for Attorneys' Fees and Reimbursement of Expenses and a Proof of Claim form, you may obtain copies of these documents by identifying yourself as a member of the Class and by calling toll free or writing to:

In re CareScience, Inc. Securities Litigation The Garden City Group, Inc. Claims Administrator P.O. Box 9000 #6234 Merrick, NY 11566-9000 1-866-808-3618

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

Sherrie R. Savett, Esquire Marc I Willner, Esquire Berger & Montague, P.C. Kay E. Sickles, Esquire 1622 Locust Street Schiffrin & Barroway, LLP Philadelphia, PA 19103 Three Bala Plaza East, Suite 400 (215) 875-3000 Bala Cynwyd, PA 19004 (610) 667-7706

To participate in the Settlement, you must submit a Proof of Claim no later than December 10, 2004. If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Order and Final Judgment of the Court. To exclude yourself from the Class, you must submit a request for exclusion postmarked no later than October 13, 2004. If you are a Class Member and do not submit a proper Proof of Claim, you will not share in the Settlement but you nevertheless will be bound by the Order and Final Judgment of the Court.

Further information may be obtained by directing your inquiry in writing to the Claims Administrator.

By Order of the Court

CLERK OF THE COURT

Berger & Montague, P.C.; Schiffrin & Barroway, LLP

CONTACT: Marc I Willner, Esq., of Schiffrin & Barroway, LLP,+1-610-667-7706; or Sherrie R. Savett, Esq., of Berger & Montague, P.C.,+1-215-875-3000


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