Faruqi & Faruqi Announce Proposed Settlement of Class Action in the In re Dynavax Technologies Corporation Securities Litigation

NEW YORK, Nov. 14, 2016 /PRNewswire/ -- The following statement is being issued by Faruqi & Faruqi regarding the In re Dynavax Technologies Corporation Securities Litigation.

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA

In re DYNAVAX TECHNOLOGIES CORPORATION SECURITIES LITIGATION
This Document Relates To: ALL ACTIONS

Case No. 3:13-CV-02796-CRB

TO:  ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF DYNAVAX TECHNOLOGIES CORPORATION ("DVAX") FROM APRIL 26, 2012 THROUGH AND INCLUDING JUNE 10, 2013 ("CLASS").

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on February 3, 2017 at 10:00 a.m., before the Honorable Charles R. Breyer, at the United States Courthouse, 450 Golden Gate Avenue, Courtroom 6—17th Floor, San Francisco, CA 94102, for the purpose of determining (1) whether the proposed settlement of the claims in the Action for the principal amount of $4,500,000 for the Class should be approved by the Court as fair, just, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with prejudice should be entered by the Court dismissing the Action with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees in the amount of 25% of the Settlement Fund, less Litigation Expenses, and award to the Class Representatives not to exceed $10,000, and expenses not to exceed $150,000 should be approved.

IF YOU PURCHASED OR ACQUIRED DVAX COMMON STOCK DURING THE PERIOD FROM APRIL 26, 2012 THROUGH AND INCLUDING JUNE 10, 2013, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.  You may obtain copies of a detailed Notice of Pendency and Settlement of Class Action ("Settlement Notice") and a copy of the Proof of Claim and Release form by writing to In re Dynavax Technologies Corp. Sec. Litig., c/o GCG, P.O. Box 10196, Dublin, OH 43017-3196, visiting the website www.DynavaxSecuritiesLitigation.com, e-mailing the Claims Administrator at [email protected], or calling the Claims Administrator toll free at 1-855-907-3230.  Inquiries other than requests for the above-referenced documents may also be made to Plaintiff's Lead Counsel:

Richard W. Gonnello
FARUQI & FARUQI, LLP
685 Third Avenue
26th Floor
New York, NY 10017

If you are a Class Member, in order to share in the distribution of the Settlement Fund, you must submit a Proof of Claim and Release form postmarked no later than January 21, 2017, establishing that you are entitled to recovery.  NOTE THAT NO CLAIMS LESS THAN $10.00 WILL BE PROCESSED OR PAID.

If you purchased or otherwise acquired DVAX common stock and you desire to be excluded from the Class, you must submit a request for exclusion postmarked no later than January 9, 2017, in the manner and form explained in the detailed Settlement Notice referred to above.  All Class Members who do not timely and validly request exclusions from a Class will be bound by any judgment entered in the Action pursuant to the Stipulation and Agreement of Settlement.

Any objection to the Settlement must be mailed to the Clerk of the Court at the address below and postmarked no later than January 9, 2017:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
450 Golden Gate Avenue
Box 36060
San Francisco, CA 94102

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.

DATED:  October 14, 2016

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA

SOURCE Faruqi & Faruqi