お知らせ • Oct 25
Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Emergent BioSolutions Inc
Pomerantz LLP announced that the United States District Court for the District of Maryland has approved the following announcement of a proposed class action settlement that would benefit purchasers of Emergent BioSolutions Inc. common stock: pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of Maryland, that a hearing will be held on February 27, 2025, at 10:00 a.m. before the Honorable Deborah L. Boardman, United States District Judge, at the courthouse for the United States District Court, District of Maryland, 6500 Cherrywood Lane, Suite 445, Greenbelt, MD 20770 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration in the amount of forty million dollars ($40,000,000.00) 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 Lead Counsel’s application for an award of attorneys’ fees of up to 30%, and reimbursement of out-of-pocket expenses of not more than five hundred thousand dollars ($500,000) plus interest on such fees and expenses, and a compensatory award for Lead Plaintiffs of not more than eighty thousand dollars ($80,000) total, all to be paid from the Settlement Fund, should be approved; and (4) whether this Action should be dismissed with prejudice against the Settling Defendants as set forth in the Stipulation of Settlement dated September 12, 2024 (the “Stipulation”) filed with the Court. The case has been litigated since April 19, 2021. Lead Plaintiffs allege that, in violation of the U.S. federal securities laws, Settling Defendants made material misrepresentations and omissions, with scienter, concerning Emergent’s business operations, reported results, and internal controls causing Emergent’s common stock price to be inflated during the Settlement Class Period. Lead Plaintiffs further allege that revelation of Settling Defendants’ fraud caused statistically significant stock declines, thereby injuring Lead Plaintiffs and the Settlement Class of investors. Settling Defendants have denied and continue to deny these allegations, deny that they committed any act or omission giving rise to any liability or violation of the law, and believe that the claims are without merit. The Settlement will resolve the lawsuit and the Released Claims as to the Settling Defendants, Released Defendant Parties, and other Released Parties. If users are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, user must submit a Proof of Claim and Release Form online or received no later than February 4, 2025, establishing that user are entitled to recovery. Unless user submit a written exclusion request, user will be bound by any Judgment rendered in the Action whether or not user make a claim. If user want to be excluded from the Settlement Class, user must submit to the Claims Administrator a request for exclusion, in accordance with the procedures set forth in the Notice, so that it is received no later than February 6, 2025. If user decide to exclude yourself from the Settlement Class and wish to file user’s own individual lawsuit based on the Released Settlement Class Claims, Settling Defendants and Released Defendant Parties may argue that user face a time bar under applicable statutes of limitation or repose, risks that user should discuss with an appropriate legal advisor. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any Judgment entered in the Action pursuant to the Settlement Stipulation. If user are a Settlement Class Member and do not exclude yourself, user can object to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and compensatory award to Lead Plaintiffs in the manner and form explained in the Notice and received no later than February 6, 2025.