Levi & Korsinsky Issues Summary Notice of Class Action Settlement

NEW YORK, March 2, 2026 /PRNewswire/ -- 

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

SUMMARY NOTICE OF CLASS ACTION, PROPOSED SETTLEMENT,
SETTLEMENT HEARING, AND RIGHT TO APPEAR

TO: ALL RECORD AND BENEFICIAL HOLDERS OF BIONESS, INC. COMMON STOCK AS OF MARCH 30, 2021, TOGETHER WITH THEIR HEIRS, ASSIGNS, TRANSFEREES, AND SUCCESSORS-IN-INTEREST

PLEASE READ THIS SUMMARY NOTICE CAREFULLY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the Court of Chancery of the State of Delaware (the "Court"), that the above-captioned stockholder class action (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that Plaintiffs Teuza – A Fairchild Technology Venture Ltd., Nachos, Inc., and Adnir Holdings Ltd. (collectively, "Plaintiffs"), on behalf of themselves and the Class have reached a proposed settlement with  Michael Dreyer, Anoosheh Bostani, Alfred E. Mann Trust, and Mann Group, LLC (the "Mann Defendants") and Mark Lindon (together with the Mann Defendants, the "Defendants") for $8,900,000 in cash (the "Settlement"). The terms of the Settlement are stated in the Stipulation and Agreement of Compromise, Settlement, and Release (the "Stipulation") on January 29, 2026, a copy of which is available at www.BionessStockholderSettlement.com. If approved by the Court the Settlement will resolve all claims in this Action.

A hearing (the "Settlement Hearing") will be held on May 8, 2026, 1:30 p.m., before the Honorable Bonnie W. David at the Court of Chancery of the State of Delaware, Sussex County, 34 The Circle, Georgetown, Delaware 19947 (or at such a date and time as the Court may direct without further notice), to:  (i) determine whether to finally certify the Class, for settlement purposes only, pursuant to Court of Chancery Rules 23(a), 23(b)(i), and 23(b)(ii), (ii) determine whether Plaintiffs and Plaintiffs' counsel have adequately represented the interests of the Class; (iii) determine whether the proposed Settlement, as set forth in the Stipulation, should be approved by the Court as fair, reasonable, adequate, and in the best interests of the Class; (iiiiv) determine whether an order and judgment should be entered approving the Settlement and dismissing the Action with prejudice, releasing, barring, and enjoining prosecution of Plaintiffs' Released Plaintiffs' Claims, upon the terms and conditions set forth in the Stipulation; (iv) hear and determine any objections to the Settlement; (vi) hear and determine whether the proposed Plan of Allocation is fair and reasonable and should be approved; (vii) hear and determine any Fee and Expense Application and Service Award Request(s), and (viii) hear other such matters as the Court may deem necessary and appropriate. Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to the Settlement website www.BionessStockholderSettlement.com.

If you are a member of the Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Net Settlement Fund. If you have not yet received the Notice, you may obtain a copy of the Notice by contacting the Settlement Administrator at [email protected] or 1-877-269-4873. A copy of the Notice can also be downloaded from the Settlement website, www.BionessStockholderSettlement.com.

If the Settlement is approved by the Court and the Effective Date occurs, the Net Settlement Fund will be distributed on a pro rata basis to Class members in accordance with the proposed Plan of Allocation stated in the Notice or such other plan of allocation as may be approved by the Court.

Any objections to the proposed Settlement, the proposed Plan of Allocation, Plaintiffs' Counsel's application for an award of attorneys' fees and expenses in connection with the Settlement (including service awards to Plaintiffs), or any other matters to be addressed at the Settlement Hearing must be filed with the Register in Chancery in the Court of Chancery of the State of Delaware and delivered to Plaintiffs' Counsel and Defendants' Counsel such that they are received no later than April 24, 2026, in accordance with the instructions set forth in the Notice.

Please do not contact the Court or the Office of the Register in Chancery regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to the Settlement Administrator or Plaintiffs' Counsel.

Requests for the Notice should be made to the Settlement Administrator:

Bioness Stockholder Settlement
c/o Epiq Systems, Inc.
P.O.  Box 5450
Portland, OR 97228-5450

Inquiries, other than requests for the Notice, should be made to Plaintiffs' Counsel:

BY ORDER OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE

Dated: March 24, 2026

SOURCE Levi & Korsinsky, LLP