공시 • Jul 22
Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Stock of Y-mAbs Therapeutics, Inc
Pomerantz LLP announced that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of stock of Y-mAbs Therapeutics, Inc.: Notice of pendency and proposed settlement of class action to: all persons or entities who purchased or otherwise acquired the stock of Y-mAbs Therapeutics, Inc. between October 6, 2020 and October 28, 2022, both dates inclusive. 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 New York, that a hearing will be held on October 28, 2024, at 11:00 a.m. before the Honorable Arun Subramanian, United States District Judge, at the courthouse for the United States District Court, Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., Courtroom 15A, New York, NY 10007 for the purpose of determining: whether the proposed Settlement of the claims in the above-captioned Action for consideration in the amount of $19,650,000.00 should be approved by the Court as fair, reasonable, and adequate; whether the Plan of Allocation is fair and reasonable, and should be approved; whether Lead Counsel’s application for an award of attorneys’ fees of up to one-third (33 1/3%) of the Settlement Amount, and reimbursement of out-of-pocket expenses of not more than $200,000.00 plus interest on such fees and expenses, and a compensatory award for Lead Plaintiff of not more than $10,000.00, all to be paid from the Settlement Fund, should be approved; and whether this Action should be dismissed with prejudice against the Defendants as set in the Stipulation of Settlement dated June 26, 2024 (the Stipulation) filed with the Court. The Court has certified a class of investors for settlement purposes only (Settlement Class) and one 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 Y-mAbs between October 6, 2020 and October 28, 2022, 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 Y-mAbs 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 one purchased or acquired Y-mAbs stock during the Settlement Class Period, rights may be affected by this Action and the Settlement thereof, including the release and extinguishment of claims one may possess relating to ownership interest in Y-mAbs stock. If one 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, one may obtain copies of these documents and the Stipulation by downloading them at the Claims Administrator’s website at: www.strategicclaims.net/Y-mAbs/. The case has been litigated since January 2023. 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 Y-mAbs product candidate omburtamab. 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 Lead Counsel, who may be reached by contacting: Michael J. Wernke, Pomerantz LLP, 600 Third Avenue, 20th Floor, New York, NY 10016, (212) 661-1100. If one is a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, one must submit a Proof of Claim and Release Form received no later than October 7, 2024, establishing that one is entitled to recovery. Unless one submits a written exclusion request, one will be bound by any Judgment rendered in the Action whether or not makes a claim. If one want to be excluded from the Settlement Class, one must submit to the Claims Administrator a request for exclusion, in accordance with the procedures set in the long-form Notice, so that it is received no later than October 7, 2024. 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 Stipulation. If one is a Settlement Class Member and do not exclude yourself, one 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 Plaintiff in the manner and form explained in the detailed Notice and received no later than October 7, 2024.