Levi & Korsinky, LLP Announces a Proposed Settlement in the Restoration Robotics, Inc. Securities Litigation
Jul 12, 2021, 10:00 ET
STAMFORD, Conn., July 12, 2021 /PRNewswire/ --
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
SAN JOSE DIVISION
IN RE RESTORATION ROBOTICS, INC.
Case No. 5:18-cv-03712-EJD
SUMMARY NOTICE OF PROPOSED
SETTLEMENT OF CLASS ACTION
Hon. Edward J. Davila
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED RESTORATION ROBOTICS, INC. ("RESTORATION ROBOTICS" OR THE "COMPANY") COMMON STOCK IN OR TRACEABLE TO RESTORATION ROBOTICS' OCTOBER 12, 2017, INITIAL PUBLIC OFFERING ("IPO") BETWEEN OCTOBER 12, 2017, AND APRIL 9, 2018, INCLUSIVE (THE "CLASS").
THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER'S SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, and Rule 23 of the Federal Rules of Civil Procedure, that Court-appointed Lead Plaintiff and Class Representative Edgardo Guerrini, on behalf of himself and the above-described certified Class, and Defendant Restoration Robotics and other Defendants (collectively, "Defendants") in the above-captioned class action (the "Action"), have reached a settlement in the Action in the amount of $4,175,000 in cash (the "Settlement Amount") that, if approved by the Court, will resolve all claims in the Action (the "Settlement"). The complete terms of the Settlement are in the Stipulation and Agreement of Settlement, dated April 22, 2021, which can be viewed, along with other relevant documents, at www.RestorationRoboticsSettlement.com.
A hearing will be held on September 2, 2021, at 9:00 a.m., before the Honorable Edward J. Davila of the United States District Court for the Northern District of California, in Courtroom 4, 5th Floor, Robert F. Peckham Federal Building & United States Courthouse, 280 South 1st Street, San Jose, CA 95113, 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 Agreement of Settlement dated April 22, 2021 (and in the full Notice, defined below), should be granted; (iii) whether the proposed Plan of Allocation for distribution of the Settlement Amount, and any interest thereon, less Court-awarded attorneys' fees, Notice and Administration Expenses, Taxes, and any other costs, fees, or expenses approved by the Court (the "Net Settlement Fund") should be approved as fair, reasonable, and adequate; and (iv) whether Class Counsel's application for an award of attorneys' fees and reimbursement of litigation expenses should be approved. The Court may change the date of the Settlement Hearing without providing another notice. You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.
If you are a member of the Class, your rights will be affected by the Settlement and you may be entitled to share in the Net Settlement Fund.
This notice summarizes the proposed Settlement. For the precise terms and conditions of the Settlement, please see the Stipulation and Agreement of Settlement dated April 22, 2021, and full Notice of Proposed Class Action Settlement, Settlement Hearing, and Application for Attorneys' Fees and Expenses ("Notice") available at www.RestorationRoboticsSettlement.com, or by contacting Class Counsel at the contact information included below, by contacting the Claims Administrator at the contact information included below, by accessing the Court docket in this case, for a fee, through the Court's Public Access to Court Electronic Records (PACER) system at https://ecf.cand.uscourts.gov, or by visiting the office of the Clerk of the Court for the United States District Court for the Northern District of California, Robert F. Peckham Federal Building & United States Courthouse, 280 South 1st Street, San Jose, CA 95113 between 9:00 a.m. and 4:00 p.m., Monday through Friday, excluding Court holidays.
If you are a member of the Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked (for U.S. Mail) or actually received by the private carrier (for FedEx, UPS, etc.) no later than October 23, 2021. If you are a Class Member and do not submit a timely and valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, 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 Class and wish to exclude yourself from the Class, you must submit a request for exclusion postmarked (for U.S. Mail) or received by the private carrier (for FedEx, UPS, etc.) no later than August 5, 2021, in accordance with the instructions 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 proceeds of the Settlement.
Any objection to the proposed Settlement, the proposed Plan of Allocation, or Class Counsel's motion for attorneys' fees and reimbursement of expenses must be mailed to or filed with the Court such that it is filed or postmarked no later than August 5, 2021, in accordance with the instructions in the Notice.
Requests for the Notice and Claim Form should be made to:
Claims Administrator: In re Restoration Robotics, Inc. Sec. Litig., c/o A.B. Data, Ltd.
P.O. Box 173128, Milwaukee, WI 53217
Email: [email protected]
Inquiries, other than requests for the Notice and Claim Form, should be made to Class Counsel:
Shannon L. Hopkins, Esq.
Levi & Korsinsky, LLP
1111 Summer Street, Suite 403
Stamford, CT 06905
Email: [email protected]
PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE. ALL QUESTIONS ABOUT THIS NOTICE, THE PROPOSED SETTLEMENT, YOUR ELIGIBILITY TO PARTICIPATE IN THE SETTLEMENT, OR THE CLAIMS PROCESS SHOULD BE DIRECTED TO THE CLAIMS ADMINISTRATOR OR CLASS COUNSEL.
Dated: July 12, 2021
BY ORDER OF THE UNITED STATES DISTRICT
COURT FOR THE NORTHERN DISTRICT OF
1 The Clerk's Office's hours and public availability may vary due to ongoing COVID-19 restrictions. You are encouraged to contact the Clerk's Office at (408) 535-5363 prior to any in-person visit.
SOURCE Levi & Korsinsky, LLP
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