Force Protection, Inc.

Settlement

Please see the Notice and Claim Form documents above (called “Document 1” and “Document 2,” respectively) for details about the Force Protection settlement process. These documents are also available on the settlement administrators' website at www.ForceProtectionClassAction.com.

The Claims Administrator will be accepting Proof of Claim and Release forms for this Settlement for one additional month beyond the original March 11, 2011 deadline. In order to participate in the distribution of the Settlement, you must submit a Proof of Claim and Release form to the Claims Administrator's Office, postmarked no later than April 11, 2011, at the following address:

Force Protection, Inc. Securities Litigation c/o Rust Consulting, Inc.
P.O. Box 2389
Faribault, MN 55021-9089

Background

The complaint against Force Protection and its senior executives alleges that prior to and during the class period, defendants continually boasted that Force Protection's dominance in the Mine Resistant Ambush Protected ("MRAP") vehicles market was due to its superior product design and rapid delivery rates.  In June 2007, the Inspector General of the Department of Defense questioned both of these claims and criticized the awarding of contracts to Force Protection on a sole-source basis and without competitive bidding.  The report noted that there were other U.S. companies that could have competed with Force Protection on both product capability and faster delivery schedules.  The complaint further alleges that the company's stock traded at inflated levels during the class period allowing defendants to sell $87.4 million worth of stock.

On September 29, 2009, Pomerantz and co-lead counsel persuaded the court to deny defendants' motion to dismiss the complaint.  The court then issued an order requiring the parties to immediately commence discovery.  Pomerantz, along with co-lead counsel, subsequently reviewed approximately one million pages of produced documents and moved for class certification last spring.  While that motion was pending, the parties began settlement negotiations, which concluded in late-September 2010.

The settlement covers those investors who purchased Force Protection common stock from January 18, 2007, through and including March 14, 2008. The final approving hearing was held on January 25, 2011 before the Hon. C. Weston Houck of the U.S. District Court for the District of South Carolina and on March 9, 2011, Judge Houck issued a written order approving the settlement terms, including attorneys' fees.