TeleNav, Inc.

Settlement with Defendants in Smith v. TeleNav, Inc., et al.

The parties have reached a settlement of this action, pending in the United States District Court for the Northern District of California, which provides for the payment of $3,800,000 for the benefit of eligible class members.  Plaintiff alleged that Defendants violated the federal securities laws by making false and misleading statements in TeleNav, Inc.’s Registration Statement and Prospectus issued in connection with TeleNav’s May 13, 2010 initial public offering regarding contract renegotiations with Sprint Nextel Corporation – TeleNav’s largest and most significant customer.  The proposed settlement was preliminarily approved by the Court on November 15, 2011.

The Court has scheduled a final approval hearing for February 24, 2012, at 10:00 a.m.  If you are a class member and wish to receive a payment from the settlement proceeds, you are required to submit a claim form by no later than February 27, 2012 in order to participate in the settlement.  The claim form can be obtained by clicking on the Proof of Claim and Release link below. If you have any questions about the settlement or the litigation, please contact Rick Nelson at 1800-449-4900.

Documents:

• Stipulation of Settlement
• Notice of Proposed Settlement of Class Action
• Proof of Claim and Release

• Preliminary Approval Order