Scott+Scott Attorneys at Law LLP and Hagens Berman Sobol Shapiro LLP Announce Pendency of Class Action To All Persons and Entities Who Purchased or Otherwise Acquired Shares of the Common Stock of Vaxart, Inc. During the Period Between June 15, 2020 and August 19, 2020, Inclusive

NEW YORK, Oct. 31, 2022 /PRNewswire/ --

Please read this notice carefully, your rights MAY be affected by a class action lawsuit pending in this court.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United State District Court for the Northern District of California (the "Court"), that the above-captioned litigation (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that the plaintiffs in the Action, consisting of Lead Plaintiffs Wei Huang and Langdon Elliot and additional plaintiff Ani Hovhannisyan (collectively, "Plaintiffs"), have reached a proposed partial settlement of the Action with certain Settling Defendants (consisting of Vaxart and certain of Vaxart's current and former directors and/or officers) that, if approved, will (a) provide for the payment of $12,015,000.00 in cash for the benefit of the Settlement Class, (b) resolve and release all claims asserted against the Settling Defendants (as well as all claims asserted against non-settling defendants Steven J. Boyd and Keith Maher in their capacities as former Vaxart directors), and (c) leave unresolved, unreleased, and unsettled all claims that have been or may in the future be asserted in the Action against (i) Armistice Capital LLC ("Armistice") (the former beneficial owner of a majority of Vaxart's common stock) or (ii) Messrs. Boyd and Maher in their Armistice capacities. 

A hearing will be held on January 12, 2023 at 10:00 a.m. Pacific Time, before the Hon. Vincent Chhabria, of the United States District Court for the Northern District of California.  Please note that the Court has ordered that the hearing be held remotely by video and/or telephone conferencing, using the link referenced below. At the hearing, the Court will determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Settling Defendants, and the releases specified and described in the Stipulation of Settlement dated as of July 27, 2022 (and in the Notice) should be granted; (iii) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Plaintiffs should be certified as Class Representatives for the Settlement Class, and Hagens Berman Sobol Shapiro LLP and Scott+Scott Attorneys at Law LLP ("Plaintiffs' Counsel") should be appointed as Class Counsel; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Plaintiffs' Counsel's application for an award of attorneys' fees and reimbursement of litigation expenses should be approved. If you want to attend the hearing, you can attend remotely by accessing the following link: https://www.cand.uscourts.gov/vc.  Please note that the Court may change the date, time, location and/or manner of the Fairness Hearing, without another notice being sent to you.  You should check with Lead Counsel or the Settlement website, www.VaxartSecuritiesLitigation.com, beforehand to be sure that the date, time and/or location/method of the hearing have not changed.

If you are a member of the Settlement Class (a "Settlement Class Member"), 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 Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator, A.B. Data, Ltd., at Vaxart Securities Litigation, c/o P.O.Box 173133, Milwaukee, WI 53217, 1-877-388-1723.  Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator at www.VaxartSecuritiesLitigation.com.

If you are a Settlement Class Member, to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked (if mailed), or online, no later than January 31, 2023, 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 releases, judgments, or orders entered by the Court in the Action.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than December 13, 2022, 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 proceeds of the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Plaintiffs' Counsel's Fee and Expense Application, must be filed with the Court and delivered to Plaintiffs' Counsel and defendant Vaxart's counsel such that they are received no later than December 22, 2022, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, Vaxart, the other 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 Class Counsel or the Claims Administrator.

Requests for the Notice and Claim Form should be made to:

Vaxart Securities Litigation   
c/o A.B. Data Ltd.
P.O. Box 173133
Milwaukee, WI  53217
1-877-388-1723
[email protected]

BY ORDER OF THE COURT

¹ Certain persons and entities are excluded from the Settlement Class by definition, as set forth in the long-form Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Attorneys' Fees and Litigation Expenses (the "Notice"), a copy of which may be downloaded from the settlement website maintained by the Claims Administrator at www.VaxartSecuritiesLitigation.com.  

SOURCE Scott+Scott Attorneys at Law and Hagens Berman Sobol, Shapiro LLP