Kessler Topaz Meltzer & Check, LLP Announces Proposed Settlement of Class Action Lawsuit Rabkin v. Lion Biotechnologies, Inc., et al., Case No. 3:17-cv-02086-SI (N.D. Cal.)
SAN FRANCISCO, Jan. 7, 2019 /PRNewswire/ -- JND Class Action Administration
You are a member of the Settlement Class in Rabkin v. Lion Biotechnologies, Inc., et al., Case No. 3:17-cv-02086-SI (N.D. Cal.) ("Action") if you purchased or otherwise acquired Lion Biotechnologies, Inc. common stock between September 27, 2013 and April 10, 2017, inclusive, and were damaged thereby.1 Certain persons and entities are excluded from the Settlement Class as set forth in detail in the Stipulation of Settlement and Release dated September 28, 2018 ("Stipulation") and the Notice described below.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of California ("Court"), that the Action has been provisionally certified as a class action for the purposes of settlement only and that the parties to the Action have reached a proposed settlement for $3,250,000 in cash ("Settlement"), that, if approved, will resolve all claims in the Action. A hearing will be held on April 12, 2019 at 10:00 a.m., before the Honorable Susan Illston at the Phillip Burton Federal Building & United States Courthouse, 450 Golden Gate Avenue, San Francisco, CA 94102, Courtroom 1-17th Floor, to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the releases specified and described in the Stipulation (and in the Notice described below) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the detailed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses; and (III) Settlement Fairness Hearing ("Notice") and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at Lion Biotechnologies Securities Litigation Settlement, c/o JND Legal Administration, P.O. Box 91227, Seattle, WA 98111; 1-888-337-0001; [email protected]. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.LionBiotechnologiesLitigationSettlement.com, or from Lead Counsel's website, www.ktmc.com.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than March 22, 2019, in accordance with the instructions set forth in the Claim Form. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than March 15, 2019, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the net proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be submitted by mailing the objection to the Clerk of Court or by filing the objection with the Court such that they are filed or postmarked no later than March 15, 2019, in accordance with the instructions set forth in the Notice.
PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENDANTS OR THEIR COUNSEL REGARDING THIS NOTICE. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator:
Lead Counsel Jennifer L. Joost, Esq. Kessler Topaz Meltzer & Check, LLP One Sansome Street, Suite 1850 San Francisco, CA 94104 1-415-400-3000 |
Claims Administrator Lion Biotechnologies Securities Litigation Settlement Seattle, WA 98111 1-888-337-0001 [email protected] |
DATED: November 30, 2018 |
BY ORDER OF THE COURT |
1 Lion Biotechnologies, Inc. changed its name to Iovance Biotherapeutics, Inc. on June 27, 2018, and the Company's NASDAQ ticker symbol changed to "IOVA" on June 28, 2018. Prior to June 28, 2018 and throughout the Class Period (i.e., September 27, 2013 to April 10, 2017, inclusive), the Company's NASDAQ ticker symbol was "LBIO."
SOURCE Kessler Topaz Meltzer & Check, LLP
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