SAN FRANCISCO, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that the United States District Court for the Northern District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of TerraVia Holdings, Inc. common stock (NASDAQ: TVIA):
SUMMARY NOTICE OF PROPOSED CLASS ACTION SETTLEMENT
| TO: | ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK TERRAVIA HOLDINGS, INC. (“TERRAVIA”) BETWEEN MAY 4, 2016, AND NOVEMBER 6, 2016, BOTH DATES INCLUSIVE. |
PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.
YOUR RIGHTS MAY BE AFFECTED BY PROCEEDINGS IN THIS ACTION.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of California, that a hearing will be held on June 13, 2024 at 10:00 a.m. in Courtroom 11, 19th Floor before the Honorable James Donato, United States District Judge of the Northern District of California, 450 Golden Gate Avenue, San Francisco, CA 94102 (the “Settlement Hearing”):
(1) to determine whether the Settlement, consisting of the sum of $2,500,000.00 (Two Million Five Hundred Thousand Dollars and Zero Cents) in cash should be approved as fair, reasonable, and adequate;
(2) to determine whether the Order and Judgment as provided under the Amended Stipulation of Settlement (“Stipulation”) should be entered, dismissing the Amended Complaint on the merits and with prejudice, and to determine whether the release by the Settlement Class of the Released Persons, as set forth in the Stipulation, should be ordered, along with a permanent injunction barring efforts to bring any Released Claims extinguished by the Settlement against any Released Persons;
(3) to determine whether the proposed Plan of Allocation for the distribution of the Net Settlement Fund is fair, reasonable, and adequate;
(4) to consider the application of Plaintiffs’ Counsel for an award of expenses of not more than $150,000, for a Plaintiffs’ Award to the two proposed Class Representatives not to exceed $2,500.00 each, and for a Plaintiffs’ Award to the four remaining Lead Plaintiffs not to exceed $1,000.00 each;
(5) to determine whether the Settlement Class should be certified;
(6) to consider any Settlement Class Members’ objections to the Settlement, whether submitted previously in writing or presented orally at the Settlement Hearing by Settlement Class Members (or by counsel on their behalf); and
(7) to rule upon such other matters as the Court may deem appropriate.
If you purchased common stock of TerraVia between May 4, 2016, and November 6, 2016, both dates inclusive, your rights may be affected by the Settlement of this Action. If you have not received a copy of the Notice of Proposed Class Action Settlement and a copy of the Proof of Claim Form, you may obtain copies by writing to the Claims Administrator at: TerraVia Securities Litigation, c/o Strategic Claims Services, P.O. Box 230 600 N. Jackson St., Ste. 205 Media, PA 19063, info@strategicclaims.net; by calling the Claims Administrator at (866) 274-4004; or by visiting the Claims Administrator’s website at www.terraviasettlement.com.
If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim Form to the Claims Administrator either postmarked no later than May 23, 2024 or online at www.terraviasettlement.com by 11:59 p.m. EST no later than May 23, 2024. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you submit a Proof of Claim Form.
If you desire to be excluded from the Class, you must submit a request for exclusion to the Claims Administrator, so that it is postmarked no later than May 23, 2024, in the manner and form explained in the detailed Notice of Proposed Class Action Settlement.
Any objection to the Settlement, Plan of Allocation, Plaintiffs’ Counsel’s request for an award of Expenses, or any request for Plaintiffs’ Award must be in the manner and form as described in the Notice of Proposed Class Action Settlement and received no later than May 23, 2024 by the Court at:
Clerk of the Clerk
United States District Court
Northern District of California
450 Golden Gate Avenue
San Francisco, CA 94102
If you have any questions about the Settlement, you may call or write to Plaintiffs’ Counsel:
Joshua B. Silverman, Esq.
Louis C. Ludwig, Esq.
POMERANTZ LLP
10 South LaSalle St., Ste. 3505
Chicago, IL 60603
Tel.: 312-377-1181
jbsilverman@pomlaw.com
lcludwig@pomlaw.com
PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
DATED: JANUARY 4, 2024
BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
NORTHERN DISTRICT OF CALIFORNIA
