Pomerantz LLP Announces a Proposed Settlement of a Class Action Lawsuit Involving Purchasers of Thoratec Corporation Common Stock

OAKLAND, Calif., April 5, 2019 /PRNewswire/ --

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
OAKLAND DIVISION

TO:  ALL PERSONS OR ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF THORATEC CORPORATION ("THORATEC") BETWEEN MAY, 11, 2011 THROUGH AUGUST 6, 2014, BOTH DATES INCLUSIVE.

PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. YOUR RIGHTS MAY BE AFFECTED BY PROCEEDINGS IN THIS ACTION.

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, that a hearing will be held on June 25, 2019, at 2:30 p.m., before Honorable Claudia Wilken at the United States District Court for the Northern District of California, Ronald V. Dellums Federal Building & United States Courthouse, 1301 Clay Street, Oakland, CA 94612, to determine (1) whether the proposed Settlement of the Class's claims against the Settling Defendants for $11,900,000 should be approved as fair, reasonable, and adequate; (2) whether the Plan of Allocation is fair and reasonable, and should be approved; (3) whether the application by Class Counsel for an award of attorneys' fees and expenses should be approved; (4) whether Class Representative Todd Labak's application for reimbursement of costs and expenses should be granted; and (5) whether the Action should be dismissed with prejudice against the Settling Defendants as set forth in the Settlement Stipulation filed with the Court.

If you purchased or acquired Thoratec Corporation common stock between May 11, 2011 and August 6, 2014, your rights may be affected by the Settlement of this Action. If you have not received a detailed document entitled "Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees and Expenses, and Final Approval Hearing" (the "Notice") and a copy of the Proof of Claim and Release Form, you may obtain copies by writing to the Claims Administrator at: Thoratec Corporation Securities Litigation, Claims Administrator, c/o A.B. Data, Ltd., P.O. Box 173060, Milwaukee, WI 53217, Phone:  1-866-905-8129, by emailing the Claims Administrator at [email protected], or by accessing the Settlement website at www.thorateclitigation.com. Class Members may also access these documents through the Public Access to Court Electronic Records (PACER), an electronic public access service at https://www.pacer.gov/ and following the online registration process to access the case.

If you are a member of the Class and wish to share in the Settlement money, you must submit a Proof of Claim no later than June 18, 2019 establishing that you are entitled to recovery. As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Class, in accordance with the procedures set forth in the Notice, by no later than June 11, 2019. Any objections to the Settlement, Plan of Allocation or attorney's fees and expenses must be filed in accordance with the procedures set forth in the Notice no later than June 11, 2019.

Inquiries, other than requests for the Notice, may be made to Class Counsel: Leigh Handelman Smollar, Esq., Pomerantz LLP, 10 South La Salle Street, Suite 3505, Chicago, IL 60603, [email protected].

INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE CLERK'S OFFICE, THE DEFENDANTS, OR DEFENDANTS' COUNSEL.

Dated:   April 5, 2019  UNITED STATES DISTRICT COURT
                                    NORTHERN DISTRICT OF CALIFORNIA

SOURCE Pomerantz LLP