The following statement is being issued by Monteverde & Associates PC in regard to a proposed class action settlement

NEW YORK, July 31, 2019 /PRNewswire/ --

SUMMARY NOTICE

TO:   ALL PERSONS WHO PURCHASED, SOLD OR HELD TRANSGENOMIC, INC. ("TRANSGENOMIC") COMMON STOCK DURING THE PERIOD FROM AND INCLUDING APRIL 12, 2017, THE RECORD DATE FOR TRANSGENOMIC'S SPECIAL STOCKHOLDER MEETING REGARDING THE MERGER BETWEEN TRANSGENOMIC AND PRECIPIO DIAGNOSTICS, LLC (THE "MERGER"), THROUGH AND INCLUDING JUNE 30, 2017, THE DATE THE MERGER CLOSED.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of Nebraska, that the above-captioned litigation (the "Litigation") has been certified as a class action and that a Settlement has been proposed. A hearing will be held on November 4, 2019, at 11:30 a.m., before the Honorable John M. Gerrard at the United States District Court for the District of Nebraska, 586 Federal Building 100 Centennial Mall North Lincoln, NE 68508, for the purpose of determining: (1) whether the proposed Settlement of the Litigation for $1.95 million should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice and releasing the Released Claims; (3) whether the Plan of Allocation for the Net Settlement Fund is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and any award to Lead Plaintiff pursuant to 15 U.S.C. §78u-4(a)(4) should be approved.

IF YOU PURCHASED, SOLD OR HELD TRANSGENOMIC COMMON STOCK DURING THE PERIOD FROM AND INCLUDING APRIL 12, 2017 THROUGH AND INCLUDING JUNE 30, 2017 (THE "CLASS PERIOD"), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF TRANSGENOMIC COMMON STOCK DURING THE CLASS PERIOD. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Transgenomic Securities Litigation, c/o RG/2 Claims Administration, P.O. Box 59479 Philadelphia, PA 19102-9479, or on the website www.rg2claims.com/transgenomic.html. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail (postmarked no later than October 29, 2019), or online at www.rg2claims.com/transgenomic.html no later than October 29, 2019, establishing that you are entitled to recovery.

If you purchased or acquired Transgenomic common stock during the Class Period and you desire to be excluded from the Class, you must submit a request for exclusion so that it is received no later than October 4, 2019, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation of Settlement.

Any objection to the Settlement, the Plan of Allocation, Lead Counsel's request for attorneys' fees, and Lead Plaintiff's request for time and expenses must be received by each of the following recipients no later than October 4, 2019:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
DISTRICT OF NEBRASKA MILWAUKEE DIVISION
586 Federal Building
100 Centennial Mall North
Lincoln, NE 68508

Lead Counsel:

MONTEVERDE & ASSOCIATES PC
Juan E. Monteverde
The Empire State Building
350 Fifth Avenue, Suite 4405
New York, New York 10118

Counsel for Defendants:

GOODWIN PROCTER LLP
Deborah S. Birnbach
100 Northern Ave.
Boston, MA 02210

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.

SOURCE Monteverde & Associates PC

Related Links

http://www.monteverdelaw.com