Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the On2 Technologies, Inc. Securities Settlement

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the On2 Technologies, Inc. Securities Settlement:

SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF queens: COMMERCIAL DIVISION

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT AND RIGHT TO OPT OUT AND TO OBJECT

TO: ALL PERSONS AND ENTITIES WHO HELD SHARES OF THE COMMON STOCK OF ON2 TECHNOLOGIES, INC. (“On2”), EITHER OF RECORD OR BENEFICIALLY, AT ANY TIME BETWEEN AUGUST 4, 2009 AND FEBRUARY 19, 2010, INCLUSIVE (THE “SETTLEMENT CLASS”)

YOU ARE HEREBY NOTIFIED that a proposed Settlement, whose terms are embodied in a Stipulation, has been reached by Plaintiff, on behalf of herself and the Settlement Class, with the Settling Defendants in the above-captioned action. A Fairness Hearing will be held with respect to the Settlement on April 6, 2021, at 10:00 A.M. before the Honorable Marguerite A. Grays, J.S.C., in the Queens Supreme Court Building, Courtroom 66, 88-11 Sutphin Boulevard, Jamaica, New York 11435.

The action arose out of On2’s merger with Google Inc., which On2’s stockholders approved on February 17, 2010. Plaintiff’s action claims, among other things, that On2’s former directors breached their fiduciary duties by conducting a flawed sale process, negotiating an inadequate merger price and making misleading public disclosures concerning the merger. Defendants have denied all allegations in the action. The Settlement provides that, in exchange for On2 having made certain supplemental disclosures concerning the merger prior to the vote approving it, Plaintiff will dismiss the action with prejudice and Plaintiff and the Settlement Class will release Defendants and the Released Persons from the Released Claims.

The purpose of the Fairness Hearing is to determine whether the proposed Settlement and Stipulation, should be approved by the Court as fair, reasonable and adequate and in the best interests of the Settlement Class. This notice only summarizes the action, the terms of the Settlement and Stipulation and the matters to be addressed at the Fairness Hearing. A detailed notice, entitled “Notice of Pendency of Class Action, Proposed Settlement, Fairness Hearing and Right to Opt Out and to Object” (the “Class Notice”), describes the action, the proposed Settlement and Stipulation, and the rights of members of the Settlement Class to request to be excluded from the Settlement Class and to object to the Settlement and Stipulation and other matters to be considered at the Fairness Hearing and/or appear at the Fairness Hearing. You may obtain a copy of the Class Notice by visiting www.on2shareholdersettlement.com, or by requesting that a copy be sent to you by contacting the Notice Administrator by mail, email or telephone as follows:

On2 Technologies Shareholder
Settlement Notice Administrator
c/o KCC Class Action Services
P.O. Box 43034
Providence, RI 02940-3034
On2shareholdersettlement@kccllc.com
(866)-700-0418

If you are a member of the Settlement Class, you have the right to object to the Settlement and Stipulation, the final certification of the Settlement Class, the entry of the Order and Final Judgment (and the releases it contains) and/or the request by Plaintiffs’ Counsel for an award of attorneys’ fees and expenses, or otherwise request to be heard, by submitting no later than March 6, 2021, a written objection and, if applicable, a notice of intention to appear, in accordance with the procedures described in the Class Notice. You also have the right to exclude yourself from the Settlement Class by submitting no later than March 6, 2021, a written request for exclusion from the Settlement Class in accordance with the procedures described in the Class Notice. If the Settlement is approved by the Court, you will be bound by the Settlement, the Stipulation and the Court’s Order and Final Judgment (including the releases provided for therein) unless you submit a request to be excluded.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE. Inquiries, other than requests for the Class Notice, may be made to the Settlement Class Counsel:

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