お知らせ • Feb 08
Pomerantz LLP and Holzer & Holzer, LLC Announce Proposed Securities Class Action Settlement on Behalf of Purchasers of Odonate Therapeutics, Inc. Common Stock
Pomerantz LLP and Holzer & Holzer, LLC announced that the United States District Court for the Southern District of California has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of Odonate Therapeutics, Inc. common stock: Shareholders 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 Southern District of California, that a hearing will be held on June 6, 2022, at 10:30 a.m. before the Honorable Marilyn L. Huff, United States District Judge, at the courthouse for the United States District Court, Southern District of California, James M. Carter and Judith N. Keep United States Courthouse, 333 West Broadway, San Diego, CA 92101 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration in the amount of twelve million seven hundred fifty thousand dollars ($12,750,000.00) should be approved by the Court as fair, reasonable, and adequate; (2) whether the Plan of Allocation is fair and reasonable, and should be approved; (3) whether Co-Lead Counsel’s application for an award of attorneys’ fees of up to one third (33 1/3%), and reimbursement of out-of-pocket expenses of not more than one hundred thousand dollars ($100,000.00) plus interest on such fees and expenses, and a compensatory award for Lead Plaintiff of not more than five thousand dollars ($5,000.00), all to be paid from the Settlement Fund, should be approved; and (4) whether this Action should be dismissed with prejudice against the Defendants as set in the Stipulation of Settlement dated November 18, 2021 (the “Stipulation”) filed with the Court. Shareholders are receiving this Notice because the Court has certified a class of investors for settlement purposes only (“Settlement Class”) and may be a member of the Settlement Class (“Settlement Class Member”). The proposed Settlement Class will consist of all persons or entities who purchased, or otherwise acquired, the stock of Odonate between December 7, 2017 and March 25, 2021, both dates inclusive (the “Settlement Class Period”). Excluded from the Settlement Class are the Defendants; members of their immediate families and their affiliates; any entity in which Defendants had a controlling interest during the Settlement Class Period; any person who served as an officer or director of Odonate during the Settlement Class Period; the judges presiding over the Action and the immediate family members of such judges; any persons or entities listed on the Settlement Exclusion List; and the successors, heirs, and assigns of any excluded person. If purchased or acquired Odonate stock during the Settlement Class Period, rights may be affected by this Action and the Settlement thereof, including the release and extinguishment of claims shareholders may possess relating to ownership interest in Odonate stock. If have not received a more-detailed, long-form Notice of Proposed Settlement of Class Action, Motion for Attorneys’ Fees and Expenses, and Settlement Fairness Hearing (“Notice”) and the Proof of Claim and Release Form, shareholders may obtain copies of these documents and the Stipulation by downloading them at the Claims Administrator’s website at: www.strategicclaims.net/odonate/. If Share holders are unable to do so, they may contact the Claims Administrator to obtain copies: Kendall v. Odonate Therapeutics, Inc., c/o Strategic Claims Services, 600 North Jackson Street, Suite 205, Media, PA 19063. Tel: 866-274-4004. Email: info@strategicclaims.net. The case has been litigated since September 16, 2020. Lead Plaintiff alleges that, in violation of the U.S. federal securities laws, Defendants made material misrepresentations and/or omissions of material fact in public statements to the investing public regarding Odonate’s only drug candidate, tesetaxel. Defendants have denied and continue to deny these allegations and that they committed any act or omission giving rise to any liability or violation of the law. The Settlement will resolve the lawsuit and the Released Claims as to the Defendants and other Released Parties. Lead Plaintiff and the Settlement Class are represented by Co-Lead Counsel who may be reached by contacting: Matthew L. Tuccillo or Jennifer B. Sobers, Pomerantz LLP, 600 Third Avenue, 20th Floor, New York, NY 10016, (212) 661-1100 and/or Corey D. Holzer, Holzer & Holzer, LLC, 211 Perimeter Center Parkway, Suite 1010, Atlanta, GA 30346, (770) 392-0090.