Pomerantz LLP and The Rosen Law Firm, P.A. Announce Proposed Class Action Settlement on Behalf of Purchasers of Securities of...
June 07 2021 - 8:00AM
Pomerantz LLP and 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
class action settlement that would benefit purchasers of securities
of Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE):
SUMMARY NOTICE OF PENDENCY AND PROPOSED
SETTLEMENT OF CLASS ACTION AND FINAL APPROVAL
HEARING
TO: ALL PERSONS WHO
PURCHASED OR OTHERWISE ACQUIRED SECURITIES OF ZYNERBA
PHARMACEUTICALS, INC. BETWEEN MARCH 11, 2019 AND SEPTEMBER 17,
2019, BOTH DATES INCLUSIVE.
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 August 31, 2021, at
1:30 p.m. before the Honorable Nitza I. Quiñones Alejandro, United
States District Judge of the Eastern District of Pennsylvania, 8613
U.S. Courthouse, Courtroom 8-B, Philadelphia, PA 19106 for the
purpose of determining: (1) whether the proposed Settlement of the
claims in the above-captioned Action for payment of the gross sum
of $4,000,000 to the Settlement Class should be approved by the
Court as fair, reasonable, and adequate; (2) whether the proposed
plan to distribute the Settlement proceeds to the Settlement Class
Members is fair, reasonable, and adequate; (3) whether the
application of Co-Lead Counsel for an award of attorneys’ fees of
up to one-third of the Settlement Amount ($1,333,333.33) plus
interest, reimbursement of expenses up to $150,000, and a
Compensatory Award to Lead Plaintiffs of up to $15,000 collectively
(or $7,500 each) should be approved; and (4) whether this Action
should be dismissed with prejudice as set forth in the Stipulation
of Settlement dated April 30, 2021 (the “Settlement
Stipulation”).
If you purchased or otherwise acquired Zynerba
Pharmaceuticals, Inc. (“Zynerba”) securities between March 11, 2019
and September 17, 2019, both dates inclusive (the “Class Period”),
your rights may be affected by this Settlement, including the
release and extinguishment of claims you may possess against the
Defendants and their affiliates relating to your ownership interest
in Zynerba securities. If you have not received a detailed Notice
Of Proposed Settlement Of Class Action, Motion For Attorneys’ Fees
And Expenses, And Settlement Fairness Hearing (“Notice”) and a copy
of the Proof of Claim and Release Form, you may obtain copies of
these documents by visiting https://www.strategicclaims.net or by
contacting the Claims Administrator toll-free at (866) 274-4004 or
by email at info@strategicclaims.net. 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 and Release Form
postmarked no later than July 30, 2021, establishing that you are
entitled to recovery. 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 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 August 10, 2021, in
the manner and consistent with the requirements explained in the
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 Settlement Stipulation.
Any objection to the Settlement, Plan of
Allocation, or Co-Lead Counsel’s request for an award of attorneys’
fees and reimbursement of expenses and compensatory award to Lead
Plaintiffs must be in the manner and consistent with the
requirements explained in the Notice and received no later than
August 10, 2021, by each of the following:
Clerk of the CourtUnited States District
CourtEastern District of Pennsylvania601 Market Street, Room
2609Philadelphia, PA 19106-1797 |
Co-Lead CounselJeremy A. LiebermanTamar A.
WeinribPOMERANTZ LLP600 Third Avenue, Floor 20New York, NY
10016Jacob A. GoldbergTHE ROSEN LAW FIRM, P.A.101 Greenwood Avenue,
Suite 440Jenkintown, PA 19046 |
Counsel For Defendants David KistenbrokerDECHERT
LLP35 West Wacker Drive, Suite 3400Chicago, IL 60601Michael S.
DoluisioDECHERT LLPCira Centre, 2929 Arch StreetPhiladelphia, PA
19104 |
If you have any questions about the Settlement,
you may visit https://www.strategicclaims.net or write to Co-Lead
Counsel at the above address. PLEASE DO NOT CONTACT THE
COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.
Dated: May 12, 2021
__________________________________BY ORDER OF THE
UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF
PENNSYLVANIA
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