UPDATE: On June 14,2024 Settlement has been approved by the order of the Court. Please view website for updates to the distribution.

The information contained on this website is only a summary of the information presented in more detail in the Class Notice of Pendency of Stockholder Class Action and Proposed Settlement, Settlement Hearing, and Right to Appear (the “Notice”), which you can access here. Because this website is just a summary, you should review the Notice for additional details.

This website relates to a stockholder class action (the “Action”) pending in the Court of Chancery of the State of Delaware (the “Court”) if you were a record holder or beneficial owner of less than 1,000 shares of Westell Technologies, Inc. (“Westell” or the “Company”) common stock (ticker: “WSTL”) immediately prior to and received cash in exchange for your shares of Westell common stock in the amount of $1.48 per share as a result of a 1,000-to-1 reverse stock split of the Company’s Class A Common Stock and Class B Common Stock, followed immediately by a 1-to-1,000 forward stock split of the Company’s Class A Common Stock and Class B Common Stock effected on October 1, 2020.

Please also be advised that (i) lead plaintiff Pankaj Sharma (“Plaintiff”), on behalf of himself and the Class (defined in paragraph 23 below), and (ii) defendants Westell Technologies, Inc., The Voting Trust Agreement Dated February 23, 1994, among Mr. Penny, Mr. Simon and Certain Members of the Penny Family and the Simon Family, Robert W. Foskett, Kirk Brannock, Scott Chandler, Timothy Duitsman, Cary Wood, Mark Zorko, and Patrick J. McDonough, Jr. (collectively, “Defendants” and together with Plaintiff, the “Settling Parties”) have reached a proposed settlement for $2,200,000.00 in cash (the “Settlement”). The proposed Settlement, if approved, will resolve all claims in the Action against Defendants.

If you are a member of the Class, you are subject to the Settlement. The Class preliminarily certified by the Court for purposes of the Settlement consists of:

All persons who held fewer than 1,000 shares of Westell common stock immediately prior to and received cash in exchange for their shares of Westell common stock in the amount of $1.48 per share as a result of the Transaction.

PLEASE NOTE: The Class is a non-“opt-out” class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2). Accordingly, Class Members do not have the right to exclude themselves from the Class.

Please Note:If you are eligible to receive a payment from the Net Settlement Fund (defined in the Notice), you do not have to submit a claim form in order to receive your payment.

Please be patient. If the Settlement is approved by the Court, it will take some time to conduct the Settlement distribution.

PLEASE READ THE NOTICE CAREFULLY AND IN ITS ENTIRETY. The Notice explains how Class Members will be affected by the Settlement. The following table provides a brief summary of the rights you have as a Class Member and the relevant deadlines, which are described in more detail in the Notice.