PHILADELPHIA, April 04, 2022 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Eastern District of Pennsylvania has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of Innocoll publicly traded securities:
SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND FINAL APPROVAL HEARING
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED PUBLICLY TRADED INNOCOLL SECURITIES BETWEEN JULY 25, 2014, AND DECEMBER 29, 2016, BOTH DATES INCLUSIVE (“SETTLEMENT CLASS PERIOD”)
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of Pennsylvania, that a hearing will be held on July 6, 2022, at 2:00 p.m. before the Honorable Gene E.K. Pratter, United States District Judge of the Eastern District of Pennsylvania, 601 Market Street, Courtroom 10-B, Philadelphia, Pennsylvania 19106 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $2,755,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for attorneys’ fees of up to one-third of the Settlement Amount ($918,333.33) plus a proportionate share of interest accrued on the Settlement Amount, Lead Counsel’s reimbursement of litigation expenses incurred of not more than $325,000, and Award to Plaintiffs of not more than $10,000 each, or $20,000 in total, should be approved; and (4) whether the Action should be dismissed with prejudice as set forth in the Stipulation of Settlement, dated November 24, 2021 (the “Stipulation”). The Court reserves the right to hold the Settlement Hearing telephonically or by other virtual means.
If you purchased or otherwise acquired Innocoll securities between July 25, 2014, and December 29, 2016, both dates inclusive (“Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Innocoll securities. You can download copies of the Notice and submit your Proof of Claim and Release Form online at www.strategicclaims.net. You may also obtain copies of the detailed 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 by writing to or calling the Claims Administrator: Innocoll Holdings Public Limited Company Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; info@strategicclaims.net. If you are a member of the Settlement Class, to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form electronically no later than 11:59 PM on June 6, 2022 to the Claims Administrator, establishing that you are entitled to recovery. You may also mail a Proof of Claim and Release Form such that it is postmarked no later than June 6, 2022. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action, whether or not you make a claim.
If you are a Settlement Class Member and desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than June 15, 2022, in the manner and form explained in the detailed Notice. 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.
Any objection by a Settlement Class Member to the Settlement, Plan of Allocation, Lead Counsel’s requests for an award to Lead Counsel of attorneys’ fees and reimbursement of expenses and Award to Plaintiffs must be in the manner and form explained in the detailed Notice and received no later than June 22, 2022, by each of the following:
| Clerk of the Court United States District Court Eastern District of Pennsylvania 601 Market Street Room 2609 Philadelphia, PA 19106-1797 | Lead Counsel Jonathan Horne THE ROSEN LAW FIRM, P.A. 275 Madison Avenue 40th Floor New York, NY 10016 | Counsel For Defendants Kenneth J. Pfaehler DENTONS US LLP 1900 K Street, N.W. Washington, D.C. 20006 |
For more information about the Settlement, you may visit https://www.strategicclaims.net. If you have any questions, you may write the Claims Administrator or Lead Counsel at their respective addresses listed above.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: March 10, 2022
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
EASTERN DISTRICT OF PENNSYLVANIA
